According to it’s latest quarterly statement, Neo Solar Power Corporation (NSP)’s net revenues closed at NT$2,514 million ($84.2 million), a 16% year on year (YoY) increase. The company also reported that turnover fell compared to the last quarter of 2017, citing the end of China’s 2017 end of year installation rush, traditional seasonal downwards impact and a slump in average selling price (ASP).
Gross loss was reported at NT$183 million, the same level as the previous quarter, according to the company. Furthermore, NSP reports that its operational expenses have been going down both quarter on quarter (QoQ) and YoY, closing at NT$345 million, calling it “under reasonable control”.
While the company reported operating and net losses of NT$531 million and NT$643 million respectively, it also stresses that net losses have fallen by 51% YoY. Shareholders though, still see their earnings per share at NT$ -0.63.
NSP states that frequent global solar disputes, an imbalance in supply and demand affecting ASP and a rapidly changing market are to blame for the financial reports.
The company does not provide a financial outlook for the upcoming quarter, though it does imply that penetrating the emerging Taiwanese market and making a transition into becoming a provider of downstream tech in the solar business will stabilize the numbers further into the future.
Finally, the solar module manufacturer points at the pending merger between NSP, Gintech and Solartech which is reportedly moving along as planned, after the companies have obtained approval of the merger from the German Federal Cartel Office, China’s Ministry of Commerce and Taiwan’s Fair-Trade Commission.