Sino-American Silicon Products (SAS) today (3/19) held the Board meeting and approved 2019 financial results. SAS 2019 consolidated revenue totaled NT$ 65.51 billion with YoY -5.4%; gross profit NT$19.26 billion with YoY +3.4%; operating income NT$13.51 billion with YoY +2.6%; net profit before tax NT$13.92 billion with YoY +4.5%; net income after tax NT$8.89 billion with YoY +3%; net income after tax attributed to the parent company NT$2.24 billion with YoY +15.3%; 2019 EPS after tax reached NT$3.86, increasing NT$0.5 per share from NT$3.36 in 2018. Though the onerous contract provision on the solar polysilicon LTA totaled NT$4.35 billion loss SAS made in 2019 Q2 has impact its earning, with the contribution by its semiconductor subsidiary, GlobalWafers (GWC), SAS’ financial performance is enhanced. GWC 2019 consolidated revenue achieved NT$58.09 billion, net income attributed to the parent company was NT$13.64 billion and EPS reached NT$31.35!
Impacted by the trade tension and geopolitical conflicts, same as semiconductor industry and automotive industry, solar market has been through severe downturn as well. Nevertheless, SAS mitigated risks and overcame the challenges by dedication in niche products and flexibly regulating capacity, as well as accelerating business transformation to create better operating performance. Moreover, GWC’ solid contribution helped to underpin SAS’ business. In 2019, GWC reached the second highest revenue and the operating profit, gross profit, net income and EPS were all BEST-EVER! SAS also brought out the best gross profit and net income in all times!
Today’s board meeting also approved 2019 cash dividend distribution of NT$5 per share via earning and capital surplus to shareholders, the highest dividend since 2011 demonstrates SAS’ commitment to share its earning with shareholders by maintaining the steady dividend policy. Besides, 2020 Annual General Shareholder Meeting will be convened at 9:00 a.m. on June 24 in HsinChu Science Park Life Hub, Taiwan.
Since the discovery in Lunar New Year in 2020, it is predictable that the wide-spreading of COVID-19 would affect transportations, material supply etc in the near future. SAS will closely and continuously monitors how COVID-19 impacts the industry globally.
The widening climate change urges the green energy to be the future power. With Taiwanese government’s strong advocate on clean energy policy, the solar PV installation is assumed to keep increasing this year. At the same time, SAS will keep aggressively researching and developing smart grid and solar power station to grasp better opportunity of obtaining profit.