SAS Group Commits to 100% Renewable Energy Usage by 2050, Reports Second Quarter 2021 Financial Results
Hsinchu, Taiwan, August 5, 2021 – Sino-American Silicon Products Inc. (SAS) board approved its financial statements for the second quarter ended on June 30, 2021 today with the consolidated revenue of NT$17.18 billion, gross profit of NT$5.85 billion, operating profit of NT$4.31 billion, profit before tax of NT$5.51 billion, net income of NT$4.05 billion, net income attributed to the parent company of NT$2.12 billion and EPS of NT$3.61, gross profit, operating profit and EPS reached the second highest in the history; net income and net income attributed to the parent company hit an all-time high! Quarter over quarter, the second quarter results of SAS represented 7.0% increase in consolidated revenue, 8.2% increase in gross profit, 8.9% increase in operating profit, 45.0% increase in net income attributable to the parent company, and NT$1.12 EPS up. SAS’ semiconductor subsidiary, GlobalWafers (GWC) also concluded its second quarter with the consolidated revenue of NT$15.21 billion, net income attributed to the parent company of NT$3.95 billion and EPS of NT$9.09, all hit the highest record, operating margin of 28%, and net profit margin of 26%.
Regarding the first half of 2021 consolidated financial results, SAS cumulative consolidated revenue of NTD$33.24 billion, up 9.6% YoY, gross profit of NT$11.25 billion, up 8.8% YoY, operating profit of NT$8.28 billion, up 6.9% YoY, EPS of NT$6.11, up NT$1.15 YoY, reaching the second highest record in the history! SAS’ semiconductor subsidiary, GlobalWafers cumulative consolidated revenue in the first half of the year exceeded NTD$30 billion with 10.3% YoY! EPS of NT$15.27 hit the third highest record, up NT$0.85 YoY. Its remarkable performance significantly boosted SAS’ operation results.
As a total solution provider of green energy, SAS actively expands green power, energy storage and green energy resale business and dedicates to supporting the net-zero transition of the world and Taiwan with practical actions, pledging all subsidiaries of SAS group to use 100% renewable energy by 2050. By means of its profound experiences in building solar power plants, together with the signing of Power Purchase Agreement (PPA) and the purchase of Renewable Energy Certificates (RECs), supplemented by the progressive growths in climate blueprint: 20% by 2030, 35% by 2035, and 50% by 2040 usage ratio of renewable energy, SAS will gradually achieve the long-term goal of 100% renewable energy usage by 2050 to reduce the carbon emissions from electricity consumption. Furthermore, SAS will give full assistance to its subsidiary, GlobalWafers, and its strategic partners to increase the weight of clean power, striving to become the cornerstone in the green economy to achieve sustainable environment and a zero-carbon society for ECO-friendly living.
Regarding prospects for the solar energy industry, with COVID-19 vaccination rollout, green energy projects postponed by numerous nations are back on track. It is estimated that the number of solar photovoltaic installations will grow further this year. As German government aims to raise the share of electricity from renewable sources to 65% by 2030, solar capacity will be three times higher than 2020. SAS will seize the opportunity with its German subsidiary, Aleo Solar GmbH, the professional solar panel manufacturer, to expand its comprehensive product offerings in Europe, and serve local customers with its advantageous location. Regarding domestic solar industry outlook, Taiwan government announced to achieve net zero emissions by 2050, with more than 55% of greenhouse gas emissions coming from electricity, transition from the traditional fossil fuel to renewable energy is crucial. Solar energy is the first choice for energy transformation due to its mature technology, and is particularly ideal for Taiwan, the tropical island with abundant sunlight. SAS will restlessly devote in next-generation monocrystalline cells development, focusing on downstream power plants operation and maintenance, seizing chances to launch new products, with expectation of further revenue growth.
Sino-American Silicon Products Inc.
Spokesman: Chung-wei Lee / Vice President, Corporate Development
TEL: 03-577-2233 ext 2291
Deputy: Jennifer Chen / Sales Vice President
TEL: 03-577-2233 ext 3862
www.saswafer.com