{"id":4547,"date":"2018-05-04T05:00:00","date_gmt":"2018-05-04T05:00:00","guid":{"rendered":"https:\/\/new-stage.soltechenergy.com\/mfn_news\/delayed-publication-of-soltech-energys-2017-annual-report\/"},"modified":"2024-07-23T17:05:25","modified_gmt":"2024-07-23T15:05:25","slug":"delayed-publication-of-soltech-energys-2017-annual-report","status":"publish","type":"mfn_news","link":"https:\/\/soltechenergy.com\/en\/mfn_news\/delayed-publication-of-soltech-energys-2017-annual-report\/","title":{"rendered":"Delayed publication of SolTech Energy\u2019s 2017 annual report"},"content":{"rendered":"
SolTech Energy Sweden AB (publ.) intends to publish the Company\u2019s annual financial statements for 2017 on Monday, the 14th of May 2018, rather than in the previously notified last week of April (18th week of 2018). The reason for this change is that providing the financial statements of the Chinese company, Advanced SolTech Renewable Energy Hangzhou Co. Ltd, has taken a longer time than expected, due to the strong expansion of the company\u2019s operation.<\/strong><\/div>\n

For more information, please contact:<\/strong>\u00a0Frederic Telander, CEO SolTech Energy Tel; 08-441 88 46. email:\u00a0frederic.telander@soltechenergy.com<\/a><\/p>\n

SolTech Energy in brief:<\/strong><\/em>
\nSolTech Energy develops and sells building-integrated solar energy products for all forms of building structures \u2013 commercial, public and residential. The products are a part of a building\u2019s outer shell, as a roof, wall or window, containing semi-transparent solar cells for the production of electricity that simultaneously shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol \u201cSOLT\u201d with over 14,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China \u2013 more info on ASRE appears below. The company\u2019s Certified Advisor is G&W Fondkommission (securities broker). For more information see:\u00a0<\/em>www.soltechenergy.com<\/em><\/a><\/p>\n

Investment in China<\/strong><\/em>
\nSolTech\u2019s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), where SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE\u2019s current income comes from the sale of electricity to customers, along with various forms of subsidies per produced kWh. Focus is now concentrated on building a backlog of orders for 2018 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (100 MEUR).<\/em><\/p>\n

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