Advanced SolTech Sweden AB (publ), (ASAB) reports for the period January – March 2019. ASAB is owned 51 percent by SolTech’s Energy Sweden AB (publ) (“SolTech”) and 49 percent by Advanced Solar Power Hong Kong (ASP )
ASAB’s function within the SolTech Group is to finance the operations in China conducted by the sister company Advanced SolTech Renewable Energy Hangzhou Co. Ltd. (Asre).For the period, a profit after tax of SEK 6.12 (2.276) million is reported. The result is positively affected by a strong exchange rate, EUR / SEK. The balance sheet total as of March 31, 2011 amounts to SEK 611 million, of which SEK 589 million is loans and investments in the Chinese sister company ASRE.
The next report will be submitted in conjunction with SolTech’s Q2, 2019 quarterly report on August 22, 2019.
Profit for the period and the company’s position:
Advanced SolTech Sweden AB (publ), ”ASAB” will submit the following quarterly report for the period January 1 to March 31, 2019.
- Profit after tax of SEK 6.12 (2.276) million is reported for the period. The result is positively affected by a strong exchange rate, EUR / SEK.
- Another direct investment in the Chinese sister company ASRE of EUR 6 million.
- The balance sheet total as of March 31, 2011 amounts to SEK 611 million, of which SEK 589 million is loans and investments in the Chinese sister company ASRE.
- During the period, an institutional green bond corresponding to SEK 170 million, SOLT 5, was issued under ASAB’s green bond framework of SEK 1,500 million. Organizer was JOOL Markets. The capital has been used to partly finance the acquisition of a 21.4 MW solar energy portfolio in China.
- SOLT5 was listed on First North Sustainable Bond Market on March 21, 2019.
For more information, please contact: Frederic Telander, CEO of Advanced SolTech Sweden AB (publ) Tel: +46 8 441 88 46. E-mail: email@example.com
or Stefan Ölander, CEO SolTech Energy Sweden AB (publ) Tel: +46 70 739 80 00. E post: firstname.lastname@example.org
The information in this press release is such that SolTech Energy Sweden AB (publ) must publish in accordance with EU Regulation No. 596/2014 on Market Abuse. The information was submitted through the above contact person’s agency for publication on April 25, 2019, at. 8.45 CET.
Advanced SolTech Sweden AB (publ) – ASAB
In order to continuously finance the investments in China, the SolTech Group’s parent company and its partners in China, Advanced Solar Power Hangzhou Inc., have formed ASAB. ASAB’s business is to finance solar energy plants in China which are owned and maintained by ASRE or its wholly-owned subsidiaries through lending to Group companies. As collateral for borrowed funds, collateral is obtained in underlying assets (solar power plants and accounts receivable). The company’s Certified Adviser at First North Bond market is Mangold Fondkommission AB, telephone +46 8 5030 1550. Email: email@example.com. More info at www.advancedsoltech.com
About SolTech Energy Sweden AB (publ)
SolTech Energy develops and sells aesthetic and building-integrated solar energy products for all types of real estate – commercial, public and residential. The products are part of a building’s outer shell in the form of a roof or a wall with integrated solar cells for the production of electricity. The Group also conducts operations in China where the business model consists of financing, owning and operating solar power plants on customers’ roofs and selling all the electricity that is produced. The Group also includes the subsidiaries Nyedal Solenergi, the NP Group and Swede Energy, as well as the jointly owned companies ASAB in Sweden and ASRE in China. SolTech Energy Sweden AB (publ), traded on First North at Nasdaq Stockholm under the short name SOLT and has approximately 15,000 shareholders. The company’s Certified Adviser Erik Penser Bank Telephone: +46 8 463 83 00. Email: firstname.lastname@example.org. More info at: www.soltechenergy.com
About the Chinese initiative
SolTech Energy’s investment in China is conducted in partnership with our partner, Advanced Solar Power Hangzhou Inc joint venture, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd. (ASRE). The business model consists of ASRE financing, installing, owning and running solar energy installations on customers’ roofs. The customer does not pay for the facility, but instead undertakes to buy all electricity produced by each plant under a 20–25 year contract. ASRE’s current income comes from the sale of electricity to the customers and from various forms of grants per kWh produced. The focus now is on building an order backlog for 2019 and onwards with the goal of having an installed capacity of 605 megawatts (MW) in 2021.