Neo Solar Power Corporation (3576 TT) (“NSP”, or “the Company”), a world-class leading producer of high quality solar cells in Hsinchu, Taiwan, today announced that July revenue reached NT$ 2,052 million, with a MoM growth rate of -7.08% and a YoY growth rate of 2.13%. Year-to-Date cumulative revenues reached NT$16,716 million as of July 2014, a +92.65% jump in YoY terms as compared with NT$8,677 million last year.

NSP has been taking market diversification strategies since the release of preliminary ruling of United States Anti-Dumping duty against Taiwan (“US AD issue”) in June and therefore, the impact from the US AD issue has been initially mitigated in July. In the future, NSP will continue to transfer orders to other regions and in the meantime, also aggressively evaluate the feasibility of constructing factories abroad to respond to the US market barrier.

Look into the future, the due diligence will be conducted before the final ruling released in mid December, and the tariffs will have chance to be revised. In addition, in 2014, solar market grows with strong momentum not only in China, Japan, and the United States, but also in the United Kingdom and some emerging markets such as India and South Africa. In the long term, some research institutes estimate that the global demand for solar market will increase to 80GW in 2017 which indicates an optimistic future for solar industry.