SAS recognized debt provision of NTD4.35bn, and its GM may hit hard

SAS recognized debt provision of NTD4.35bn, and its GM may hit hard.
SAS recognized debt provision of NTD4.35bn, and its GM may hit hard.

Sino-American Silicon Products Inc. (SAS) (5483-TW) held the BOD meeting today on June 26th. Regarding the unresolved long-term contract related to polycrystalline silicon raw material, the company estimated that the total amount of debt provision will be NTD4.35bn, which will affect its 2Q19 GM. However, after closing the long-term contract, the company will have better revenue/earnings performance in its core business.

Regarding the last unresolved long-term contract related to polycrystalline silicon raw material, the company estimated that the total amount of debt provision will be NTD4.35bn. It does not involve one-time cash flow. However, it will be recognized in its 2Q19 cost of goods sold, and its GM may hit hard.

In 4Q18, the company has replaced old facilities such as precision dicing system and polycrystalline battery, and recognized loss of NTD2.267bn, leading to 4Q18 net loss of NTD577mn with LPS of NTD0.99. Nevertheless, the company stay profit in FY18. The company also agreed to amend the long-term supply contract with the raw material supplier OCI.


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