TAOYUAN, Taiwan, December 2nd – Danen Technology (TWSE: 3686) announced unaudited revenue of November 2011 with NT$95.34 million, dropped 18.04% from the previous month. Accumulated revenue from January to November 2011 was NT$3,795.54 million, up 20.70% YoY. Due to sluggish demand of the end market and high-level inventory of the channel, price of the supply chain fell continuously, Danen takes certain actions in response to the market situation for reducing further loss, accepting preferred orders only, and depleting old material inventory.
Market demand shows few signs to pick up in the short term. As we keep lower inventory level and don’t have any pressure from high contract price poly-silicon, materials can be purchased at preferable price with flexibility for production. On the premise of loss control, Danen will adjust utilization with caution, improve product quality, and reduce material costs continuously. Up to Q3 2011, Danen has superior financial index and situation to our competitors, and will be the most sustainable and reliable partner of our customers.