Hsinchu, Taiwan, November 8, 2016 – SAS board meeting today (Nov. 8) passed the financial results of the third quarter 2016. Consolidated revenue reached NT$7.18 billion. Gross profit came to NT$0.22 billion and operating loss, NT$0.4 billion while net loss attributed to the parent company was NT$1.3 billion with earnings per share of minus NT$2.27. Unaudited consolidated revenues of the solar unit came to NT$2.91 billion. Operating loss was NT$0.69 billion with the accumulated unaudited revenues of the previous three quarters totaled NT$10 billion, which was higher than NT$9.47 billion by 5.6% on the comparative period of 2015. SAS group’s consolidate revenues of the first three quarters totaled NT$21.82 billion, which was up by 2.6% on NT$21.27 billion in the corresponding period of 2015. Gross profit came to NT$2.7 billion and operating profit, NT$0.94 billion. Net loss attributed to the parent company was NT$0.8 billion with EPS of minus NT$1.4. Consolidate revenue of its subsidiary GWC for the previous three quarters came to NT$11.81 billion and operating profit was NT$1.62 billion. Net income attributed to the parent company totaled NT$1.1 billion with EPS of NT$3.

Weak solar market demand, irrational price drop plus one-off impairment loss of long term investment were accounted SAS loss in the third quarter.

Looking ahead to the fourth quarter, we’ve seen a price rebound in solar silicon wafers and cells. SAS has substantially received orders from customers for high efficiency wafers and cells from October. The circumstance of price rebound and demand recovery will surely help SAS to boost the profitability in the fourth quarter.