Hsinchu, Taiwan, June 27, 2019 – Sino-American Silicon Products Inc. (SAS) today held its 2019 Annual General Meeting (AGM) at Science Park Life Hub and acknowledged the 2018 business report, financial statements as well as a dividend distribution of NT$3 from retained earnings and capital surplus. The record date is scheduled for July 29 and the cash dividend payment is scheduled to be paid on August 16.
SAS AGM today passed the 2018 financial statements. Consolidated revenue totaled NT$69.23 billion and net income attributable to the parent company was NT$1.95 billion with an EPS of NT$3.36. SAS endeavored with positive acceleration of enterprise transformation and cautious production strategy to cope with the severe condition of global solar market last year. Additionally benefitting from its semiconductor subsidiary company GWC’ revenue contribution, SAS successfully hit another new all-time high in annual revenue.
SAS business performance for Q1 2019: consolidated revenue of NT$17.5 billion, net income attributable to the parent company of NT$1.84 billion and EPS of NT$3.15. From GWC, consolidated revenue was NT$15.59 billion and net income attributable to the parent company came to NT$3.86 billion with a high EPS of NT$8.88, which remarkably boosted a quarterly new high for SAS in gross profit and EPS among all peers. SAS’ accumulative revenue from January as of May totaled NT$28.4 billion, almost the same level on the comparative period of 2018 with nearly 90% of revenue injection from GWC.
Resulting from trade tensions between the US and China and impact on solar policies of various countries, the visibility of the global economic environment is still unclear. Looking to the future, SAS will continue to devote itself to the improvement of high efficiency solar cells and modules, further developing the blue ocean strategy with new innovative products such as N-type CelcoN high efficiency cells and so forth.
In the fifth corporate governance evaluation results, SAS once again was ranked as one of the top 5% corporates in Taiwan for five consecutive years. Furthermore, according to CommonWealth Magazine’s Survey of Taiwan’s Top 2000 Enterprises of 2018, SAS also was ranked the 59th in Taiwan manufacturing industry.