to-the-point: Neo Solar's Q1 revenue falls by 63%

Taiwanese photovoltaics (PV) maker Neo Solar Power Corp (TPE:3576), or NSP, reported on Monday first-quarter 2017 revenue of TWD 2.16 billion (USD 71m/EUR 66.5m), marking a year-on-year drop of 63.37%.

Revenue in March declined by 68.16% from a year ago, and by 10.02% from February, to TWD 661 million. The company explained that the fall is due to its decision to reduce its multicrystalline solar cell manufacturing capacity and expand its production of the higher-margin monocrystalline PERC (passivated emitter rear contact) products.

Neo Solar in March posted a 2016 net loss of TWD 6.31 billion due to falling selling prices, idled capacity and changes in its structure, and announced the change of direction.

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