Neo Solar Power Corp (新日光), the nation’s largest solar cell maker, yesterday posted its first quarterly loss in a year for last quarter, primarily due to the adverse impact of the US’ anti-dumping and anti-subsidy probes into Chinese and Taiwanese solar power firms.
The company swung into losses of NT$153 million (US$5 million) in the quarter ending in September, compared with net profits of NT$385 million the previous quarter. Gross margin fell to 4 percent last quarter from 9 percent a quarter ago.
Cumulative profit for the first three quarters of the year totaled NT$617 million, more than three times the company’s net profit of NT$202.75 million in the same period last year, the company said.
“Demand is recovering this quarter as the impact of the anti-dumping probes is easing,” Neo Solar said in a statement.
As Beijing has launched new policies to boost the installation of solar systems in the country, Neo Solar expects further improvement in its factory utilization and business this quarter, citing the second straight month of growth in the company’s revenue last month.
Revenue climbed 4.76 percent to NT$2.06 billion last month from September’s NT$1.96 billion, hitting its highest level since May, it said in a separate statement.
Separately, Green Energy Technology Inc (綠能科技), the nation’s top solar wafer maker, said revenue jumped 18.32 percent to NT$1.55 billion last month, from NT$1.31 billion in September, and 25 percent higher from NT$1.24 billion a year ago.
The company’s factory usage was 95 percent last month, fueled by growing demand for high-end wafers, it said.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
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