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HTC chairperson invests in solar cell maker Solartech

Nuying Huang, Taipei; Adam Hwang, DIGITIMES [Friday 5 February 2010]

Cher Wang, chairperson of Taiwan-based HTC (High Tech Computer) and VIA Technologies, has subscribed to over 50% of 28 million new preferred shares issued by Taiwan-based crystalline silicon solar cell maker Solartech Energy through a private placement, according to industry sources.

Wang acquired the stake in Solartech through a few Taiwan-based companies of which she is a majority shareholder or chairperson, the sources pointed out.

In response to the question of whether Wang's investment will lead to future cooperation between Solartech and Wang, the company said it will not rule out any possibility. Solartech hit record revenues of NT$533 million (US$16.7 million) in January 2010 and is expanding its annual production capacity aiming at 252MWp by the end of 2010, the sources pointed out.

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China Development unit to purchase Solartech shares
By Joyce Huang
STAFF REPORTER
Saturday, Feb 06, 2010, Page 12

A venture capital arm under China Development Financial Holding Co’s (中華開發金控) banking subsidiary plans to subscribe for up to 2.74 million preferred shares of Solartech Energy Corp (昇陽科技) via a private placement, a parent company executive said yesterday.

The shares would be subscribed at NT$36.5 per share for a total of up to NT$100.01 million (US$3.1 million), Simon Dzeng (曾垂紀), executive vice president of China Development Financial, said by telephone.

“We see a lot of potential in the company, which outperforms its peers in supply, channels and gross margins,” he said.

CDIB Knowledged-based Economy Capital Co (中華開發知識經濟創投) expects to earn an interest rate of 3 percent per year with a less than 1.65 percent stake in the solar battery maker, the company said in an exchange filing yesterday.

After reaching maturity in three years, each of Solartech Energy’s preferred shares will be converted into one of its common shares, the filing said, adding that the NT$100 million investment will account for 6.59 percent of the venture capital firm’s total assets.

Dzeng said the 3 percent interest rate was “reasonable,” adding the amount of preferred shares the venture capital arm would acquire would depend on the amount of oversubscription Solartech Energy would accept in its private placement.

Local media reports said that Solartech Energy had completed its release of 28 million new shares, or a combined 17 percent stake in the company, via a private placement on Wednesday, raising NT$10.22 billion.

Cher Wang (王雪紅), chairwoman of Via Technologies Inc (威盛電子) and HTC Corp (宏達電), was the biggest buyer, acquiring NT$429.93 million worth of shares, reports said.

Solartech Energy president Chang Chin-lung (張錦龍) invested NT$9.125 million while fashion designer Tsai Mong-hsia (蔡孟夏), wife of Solartech Energy’s chairman, bought NT$33.58 million in shares, reports said.

Shares of Solartech Energy dropped by NT$0.6, or 1 percent, yesterday to close at NT$58.4.

In a separate exchange filing yesterday, Solartech Energy said it reported NT$165.7 million in net income for last year, or NT$1.25 per share.
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Solartech to further raise 2010 capacity to 500MWp


Nuying Huang, Taipei; Willie Teng, DIGITIMES [Thursday 15 April 2010]

Crystalline silicon solar cell maker Solartech Energy will further raise 2010 capacity to 500MWp in line with the latest adjustments to its expansion plan, according to sources with the Taiwan-based company.

In addition to shipments for the US and Europe, which have Solartech running at full capacity at the moment, demand from Japanese customers should increase in the coming months, the sources said, adding the company's current capacity is already reserved for the rest of the year.

Solartech's first-quarter profits should reach approximately NT$150 million (US$4.78 million), the same as its profits for the entire 2009, according to market watchers.

Solartech's annual capacity at the end of 2009 was 132MWp, according to the company sources. Capacity for 2010 initially was set at 232-250MWp, but the company has since raised the number to 360MWp in the first quarter and now again to 500MWp. Stronger-than-expected demand is the result of anticipation for Germany's subsidy cuts in the second half and 2011.

In separate news, fellow Taiwan-based solar cell maker, Gintech Energy has announced NT$1 billion or NT$3.26 per share in first-quarter net income. The company expects similar results in the second quarter and order visibility has reached the third quarter. Gintech said it produced 55MWp monthly in the last quarter.