August 27, 2014 12:44 PM ET

Semiconductors and Semiconductor Equipment

Company Overview of United Photovoltaics Group Limited

Company Overview

United Photovoltaics Group Limited, an investment holding company, manufactures and sells polysilicon solar cells to customers worldwide. It operates in two segments, Solar Power Plants and Solar Cells. The Solar Power Plants segment is involved in the development, investment, operation, and management of solar power plants. The Solar Cells segment manufactures and sells solar silicon cells and solar modules. The company also manufactures electronic components and related products. As of December 31, 2013, it operated 4 solar power plants with a total installed capacity of 132.9 MW in Guangdong, Fujian, Gansu, and Qinghai. The company is headquartered in Central, Hong Kong.

West Tower

Unit 1012, 10th Floor

Shun Tak Centre

168–200 Connaught Road

Central,  

Hong Kong

291 Employees

Phone:

852 3112 8461

Fax:

852 3112 8410

Key Executives for United Photovoltaics Group Limited

Chairman
Age: 46
Total Annual Compensation: $1.3M
Executive Director and Member of Risk Control Committee
Age: 43
Vice President
Age: 55
Total Annual Compensation: $185.0K
Compensation as of Fiscal Year 2013.

United Photovoltaics Group Limited Key Developments

United Photovoltaics And Huabei Expressway Are In Talks To Acquire Stake In Guodian Kezuohouqi Photovoltaics

United Photovoltaics Group Limited (SEHK:686) (United PV) and Huabei Expressway Co., Ltd. (SZSE:000916) are holding talks to acquire an entity that owns a 40-MW solar plant in China. United Photovoltaics said in a statement on August 19, 2014 it is negotiating the terms of a deal that would give it a 9.37% stake in Guodian Kezuohouqi Photovoltaics Co Ltd in exchange for a payment of CNY 7.5 million. At the same time, Huabei Expressway wants to buy an 84.31% interest in Guodian Kezuohouqi Photovoltaics for about CNY 67.4 million. If the transaction goes through, Huabei Expressway will inject nearly CNY 298 million into Guodian Kezuohouqi Photovoltaics while a unit of United PV will infuse a further CNY 33 million. This move would increase their stakes to 88.89% and 9.88%, respectively. Guodian Naiman Windpower Co Ltd will hold the remaining shares in Guodian Kezuohouqi Photovoltaics. The United PV subsidiary will also have the chance to buy a portion of Huabei Expressway’s interest in Guodian Kezuohouqi Photovoltaics over a period of three years following completion.

United Photovoltaics Group Limited Announces Earnings Guidance for the Six Months Ended June 30, 2014

The board of directors of the United Photovoltaics Group Limited announced that the group is expected to record a profit after income tax of not less than HKD 360 million for the six months ended June 30, 2014 as compared to the restated loss for the corresponding period in 2013 of approximately HKD 1,012 million. The improvement in the group's results was mainly attributable to the increase in the generation of electricity and the gains from revaluation of certain financial instruments which are non-cash in nature.

United Photovoltaics Group Limited Announces Operating Results for the Second Quarter and Six Months Ended June 30, 2014

United Photovoltaics Group Limited announced operating results for the second quarter and six months ended June 30, 2014. For the quarter, the company the aggregate volume of electricity generation of the solar power plants has amounted to approximately 145,373 MWh. The aggregate volume of electricity generation for the six months ended 30 June 2014 has amounted to approximately 242,024 MWh.

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