SINBON 2011 Audited Financial Report and Dividends Distribution
SINBON Board of Directors meeting was held on March 21st, 2012, and has released the 2011 audited financial reports which show the net profit after tax of NT$447 millions and EPS of NT$2.49. Furthermore, NT$1.70 per share of cash dividends will be paid per share, which is 7% of the share price on March 21st 2012.
The audited consolidation sales revenue in 2011 is NT$8.922 billions which has grown by 6.89% over previous year. The consolidation gross profit rate is 21.30% which is similar to previous year. The sales revenue of parent company is NT$1.962 billions, which decreased by 17.05%; gross profit rate is 24.94% which is decreased by 0.34% than previous year of 25.28%; the net profit after tax is NT$447 millions which grew by 10.96% than year 2010 of NT$402 millions.
SINBON has been aggressively targeting solar energy strategies and its’ BOD is pleased to announce a joint venture with capital of US$5 million with Westinghouse Solar from USA and Yueda Group from Mainland China. The new company will target at rooftop solar power systems for manufacturing plants in Mainland China. The joint venture is a collaboration of patented technologies from Westinghouse Solar, market penetration ability from Yueda Group and supplies of connectors, junction box and cables for solar power generating system from SINBON. It targets at potential business opportunities of annual installation of 400MWP. In addition to the 12th-five year plan of Mainland China, both Government subsidiaries in installation of rooftop solar power generating system and solar cell in its low cost, have stimulated the demand so sales revenue and profit are expected to increase.