Neo Solar Power Corporation (“NSP”, or “the Company”, publicly listed on Taiwan Stock Exchange, Ticker: 3576 TT), a world-class leading integrated PV solution provider with expertise in high conversion efficiency products and global solar system development capabilities in Hsinchu, Taiwan, announced August 2018 revenue of NT$ 1,107 million, representing an MoM increase of 82.33% and a YoY increase of 47.84%.

The increase of NSP’s August revenue was mainly resulted from the increased shipment in solar module sector as well as the recognition of revenue from the solar power facility construction and development in the United States. The Year-to-Date cumulative revenues reached NT$ 7,074 million as of August 2018, a 21.97% increase in YoY terms as opposed to 5,800 million of year 2017.

The 3 in 1 merger between NSP, Gintech Energy Corporation and Solartech Energy Corp is targeted to be completed on October 1, 2018. After the merger, NSP will continue the downstream integration to create the winning model. In the solar system businesses. NSP has built up a capability of equity sourcing, construction loan, senior loan, tax planning and buyer acquiring. In the solar module sector, NSP is continue to construct the well-known module brand and plan the outsource capability. In the solar cell sector, cost reduction and high-efficiency products development, such as PERC and HJT solar cells, are always the target. Regarding the new business sector, the Company will put more effort on the power storage technology. Above all, NSP is transforming from a pure solar cell manufacturer to a full range solar solution provider and the comprehensive business encompasses the manufacture and sale of solar module, solar system development and construction, solar project operation, maintenance and management. Look into the future, we might gradually get rid of the OEM business model in solar industry and therefore it can be expected that the operation impact resulted from oversupply would decrease due to the effect of vertical integration and business transformation.