Green Energy Technology Inc (綠能科技), the nation’s largest supplier of solar wafers, has signed a contract with three large companies in Europe, a company’s stock exchange filing showed.
The Taiwanese company said it would start providing thin-film solar modules, with a total value of 39 million euros (NT$1.85 billion) next year to its German and Spanish customers, the filing said.
Green Energy’s announcement came before the local stock market closed. Its shares rose NT$7, or 3.37 percent, to close at NT$215 on the Taiwan Stock Exchange yesterday.
On Aug. 18, Green Energy said it would begin making its amorphous silicon thin-film solar panels by the end of the year to tap the market for larger and more environmentally friendly products.
One customer has signed a three-year contract for the panels, with orders in the first year worth 21.3 million euros, while the other two clients will buy around 9 million euros each, the Bloomberg reported, citing Christine Chen (陳婷婷), an official with the company’s public relations division. The capacity of the orders is around 20 megawatts, she said.
The company is an investment of Tatung Co (大同), a leading home appliance maker in Taiwan, through its subsidiary San Chih Semiconductor Co (尚志半導體).
Last week, the company reported its revenue surged 154.73 percent year-on-year to NT$4.26 billion in the first half of this year. Net income skyrocketed 549.2 percent to NT$714 million from a year earlier.
Earnings per share (EPS) was NT$6.78, up from NT$1.35 from a year earlier, while gross margin was 27.4 percent during the first six months, up from 12.33 percent a year earlier, the company’s tallies showed.
An analyst at Yuanta Investment Consulting (元大投顧) said the growth was boosted by the company’s newly increased production capacity in the first half of this year, compared with the lower production capacity a year ago as a result of a factory fire.
However, the analyst, who wished to remain anonymous, said the firm’s gross margin was still lower than the industry average of between 35 percent and 40 percent.
“With the shortage of upstream materials, as long as Green Energy is able to secure stable supply, its growth momentum will continue,” he said by telephone yesterday.
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