Neo Solar Power Corporation (“NSP”, or “the Company”, publicly listed on Taiwan Stock Exchange, Ticker: 3576 TT), a world-class leading producer of high quality solar cells and Modules in Hsinchu, Taiwan, announced June 2016 revenue of NT$1,257 million, representing a MoM decrease of 26.11%.

The decrease of NSP’s June revenue mainly resulted from decreased shipment volume due to capacity relocation. Year-to-Date cumulative revenues reached NT$ 10,410 million as of June 2016, a +8.23% growth in YoY terms as compared with 9,618 million last year.

Looking forward the second half of this year, the market expects that the ASP declining situation and conservative order visibility will be bottomed-up after China releasing its 2016 annual installation target of 18.1 GW earlier. The industry is expected to gain its growth momentum in fourth quarter. In addition, the in-progress NSP relocation capacity will be joined into production line no later than the end of third quarter and therefore it can contribute to the shipment volume, which is positive for the coming traditional industry peak season.