E-Ton Solar Tech’s 1Q19 loss increased to NTD500mn with LPS of NTD1.57

E-Ton Solar Tech will end its solar cell production business.
E-Ton Solar Tech will end its solar cell production business.

Crystalline silicon solar cell maker E-Ton Solar Tech (3452-TW) announced its 1Q19 earnings report today on May 13rd. Its consolidated revenue was NTD120mn (-9.09% QoQ, -80.68% YoY). Its 1Q19 GM was -100%, higher than its 4Q18 GM of -118% but lower than its 1Q18 GM of -32%.

E-Ton Solar Tech told that as the production cost continued to increase, and the company continued to suffer losses, the board of directors decided to recognize asset impairment losses of NTD313mn in 1Q19. Therefore, E-Ton Solar Tech 's 1Q19 loss increased YoY to NTD500mn with LPS of NTD1.57.

E-Ton Solar Tech told that the company is planning to end the production of solar cell in Honda plant and sell related assets and recognize asset impairment losses on property, plant and equipment. The board of directors has approved the asset impairment loss of NTD313mn in 1Q19. Its 1Q19 loss reached NTD500mn accordingly.


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