SMA Taps Fast-Growing Chinese Photovoltaic Market through Majority Shareholding in Zeversolar

SMA Solar Technology AG / Key word(s): Joint Venture

20.12.2012 18:28

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Ad hoc notification from SMA Solar Technology AG

SMA Taps Fast-Growing Chinese Photovoltaic Market through Majority
Shareholding in Zeversolar

Niestetal/Shanghai, December 20, 2012 - Today SMA Solar Technology AG
(SMA/FWB: S92) concluded a contract in Shanghai about the acquisition of a
majority stake of 72.5 percent in Jiangsu Zeversolar New Energy Co., Ltd.,
a leading inverter manufacturer in China. The economic start of the joint
venture is planned for January 1, 2013. The transaction is still subject to
approval by Chinese government authorities and the responsible anti-trust

Zeversolar offers products specially tailored to the requirements of the
Chinese photovoltaic market. With this joint venture, SMA is securing
access to the growing Chinese market and is strategically consolidating its
position as global market leader.

SMA plans to use the joint venture primarily to aid comprehensive operation
in the Chinese market. Through this transaction, SMA can open up the
procurement channels in China more quickly than planned and, thus, advance
ongoing cost-reduction measures at a faster rate. As the leading
manufacturer in China, Zeversolar is also in contact with the prevailing
customers and decision-makers in the energy industry. SMA will be serving
the Chinese market via the modern production site in Yangzhong and is also
in a position to quickly increase capacity through already established

Zeversolar's enterprise value based on SMA's stake of 72,5 percent is CNY
319 million (approx. EUR40 million) from which net liabilities are deducted
in order to determine the purchase price. The purchase is financed with
cash on hand.

End of ad hoc notification

About SMA
The SMA Group generated sales of EUR1.7 billion in 2011 and is the global
market leader for solar inverters, a key component of all PV plants and, as
an energy management group, offers innovative key technologies for future
power supply structures. It is headquartered in Niestetal, near Kassel,
Germany, and is represented in 21 countries on six continents. The Group
employs more than 5,500 people worldwide, plus a number of temporary
employees that varies on a seasonal basis. SMA's broad product portfolio
includes a compatible inverter for every type of module on the market and
for all plant sizes, as well as monitoring and energy management systems.
The product range includes both inverters for photovoltaic plants connected
to the grid as well as inverters for off-grid systems. SMA is therefore
able to provide ideal technical inverter solutions for all plant sizes and
types. Since 2008, the Group's parent company, SMA Solar Technology AG, has
been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) and
also in the TecDAX index. In recent years, SMA has received numerous awards
for excellence as an employer and achieved first place in the nationwide
'Great Place to Work(R)' competition in 2011 and 2012.

About Zeversolar
Jiangsu Zeversolar New Energy Co., Ltd. emerged in 2011 as the result of a
merger between 'Jiangsu Eversolar New Energy Co., Ltd.' and 'Jiangsu ZOF
New Energy Co., Ltd.' The company, located in Suzhou (Jiangsu province),
develops, produces and sells PV inverters. It offers a range of products
from residential PV systems all the way to PV power plants in the
megawatts. The ISO 9001:2008 certified company carries out production in
Yangzhong (Jiangsu province), has research and development facilities in
Suzhou and Shanghai and also has six sales and service branches in China.
Zeversolar also has subsidiaries in Australia and Germany. Zeversolar
currently employs more than 450 employees worldwide, including about 150
working in development. In 2011, Zeversolar achieved sales of CNY approx.
250 million and sold 215 MW of inverter power, making them one of the
leading PV inverter manufacturers in China.

SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal

Head of Corporate Communications:
Anja Jasper
Tel.: +49 561 9522-2805

Press contact:
Susanne Henkel
Manager Corporate Press
Tel.: +49 561 9522-1124
Fax +49 561 9522-421400

Investor Relations contact:
Julia Damm
Manager Investor Relations
Tel. +49 561 9522-2222
Fax +49 561 9522-2223

This ad hoc notification release serves only as information and does not
constitute an offer or invitation to subscribe for, acquire, hold or sell
any securities of SMA Solar Technology AG (the 'Company') or any present or
future subsidiary of the Company (together with the Company, the 'SMA
Group') nor should it form the basis of, or be relied upon in connection
with, any contract to purchase or subscribe for any securities in the
Company or any member of the SMA Group or commitment whatsoever. Securities
may not be offered or sold in the United States of America absent
registration or an exemption from registration under the U.S. Securities
Act of 1933, as amended.

This ad hoc notification can contain future-oriented statements.
Future-oriented statements are statements which do not describe facts of
the past. They also include statements about our assumptions and
expectations. These statements are based on plans, estimations and
forecasts which the Managing Board of SMA Solar Technology AG (SMA or
company) has available at this time. Future-oriented statements are
therefore only valid on the day on which they are made. Future-oriented
statements by nature contain risks and elements of uncertainty. Various
known and unknown risks, uncertainties and other factors can lead to
considerable differences between the actual results, the financial
position, the development or the performance of the corporation and the
estimates given here. These factors include those which SMA has discussed
in published reports. These reports are available on the SMA website at The company accepts no obligation whatsoever to update these
future-oriented statements or to adjust them to future events or

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Language: English
Company: SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Phone: +49 (0)561 / 9522 - 0
Fax: +49 (0)561 / 9522 - 100
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart

End of Announcement DGAP News-Service