A Board Meeting Convened to Discuss and Approve Q3 Report for 2015

On 29 October, DEC Ltd. convened the 4th Board Meeting to discuss and approve the Third Quarterly Report for 2015. Presided by Mr. Si Zefu, Chairman of DEC Ltd., 9 directors of the board attended the meeting in person or in proxy, with supervisors, representatives from the Board Office, Department of Finance and Department of Legal Affairs attending as nonvoting delegates. The said report was unanimously approved.

The meeting in the report unveiled a substantial downfall upon profit indicators due to the drop in sales revenues and gross profit under severe market competition. The total output capacity in the first three quarters of the company reached 24.27GW, down 14.1% compared to the same period of last year; the total revenue in the same period amounted to RMB 26 Billion, down 8.68% YoY; the net profit attributable to the shareholders of the company amounted to RMB 246 Million, down 77.41% YoY; earnings per share counts RMB 0.11 and with new orders intake values RMB 31.5 Billion. The Board thoroughly discussed the tough questions facing ahead in regards to the performance downfall and requires the company to explore market in and out of China in full swing; constantly upgrade the technical level and strengthen product competitiveness; further enhance the internal management, reinforce cost control and risk control, so as to realize ultimately steady development of the company.

The meeting also deliberates and approves the Proposal upon Utilization of Part of Unused Funding Raised from Convertible Bonds as a Supplement of Working Capital, etc.

The company disclosed its Q3 Report simultaneously in mainland China and Hong Kong on 30 October 2015. Meanwhile, a teleconference was held on the same day for extensive communications with investors home and abroad.

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