The board of directors of ShinFox Energy has approved the investment in the equity of SECO Joint Stock Company in Vietnam

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Date: September 25, 2023

Company Name: Senwei Energy (6806)

Subject: Senwei Energy Board of Directors Approves Investment in Equity of SECO Joint Stock Company in Vietnam

Spokesperson: Tsai Meizhi

Explanation:

1.The name and nature of the subject matter (including preference shares, the specified issuance conditions such as dividend yield, etc. should be specified): SECO Joint Stock Company

Here’s a translation of the provided text:

2. Date: September 25, 2023

3. Transaction quantity, unit price, and total transaction amount: Total transaction amount: USD 5,060,000

4. Counterparty and their relationship with the company (if the counterparty is a natural person and not a related party of the company, their name may be omitted): BB Power Holdings JSC

5. If the counterparty is a related party, the reason for selecting a related party as the transaction counterparty and the previous owner of the transferred assets, their relationship with the company and the counterparty, the previous transfer date, and the transfer amount should be disclosed: Not applicable

6. If the owner of the transaction subject matter in this transaction has been a related party of the company within the last five years, the acquisition and disposal date, price, and the relationship between the related party and the company at the time of the transaction should be disclosed: Not applicable

7. Relevant information regarding the disposal of claims (including the type of collateral for the disposed claims, if the disposed claims belong to related parties, the name of the related party and the book value of the claims disposed to the related party): Not applicable

8. Proceeds (or losses) from the disposal (if applicable) (if deferred, provide details of the recognition): Not applicable

9. Delivery or payment conditions (including payment period and amount), contractual restrictions, and other significant terms and conditions: To be conducted based on capital requirements and may be invested in stages

10. Method of decision for this transaction, reference basis for pricing determination, and decision-making unit: Approved by the Board of Directors of the company

11. Net asset value per share of the company whose securities are the subject of the transaction: NT$153.94

12. Accumulated quantity, amount, ownership percentage, and restrictions on rights (if any, such as pledges) of the company’s holdings of the traded securities (including this transaction) as of now: The company’s accumulated holdings of the traded securities (including this transaction) are as follows:

  • Quantity: 1,225,000 shares
  • Amount: USD 5,060,000
  • Ownership percentage: 35%
  • Restrictions on rights: None

13. As of now, the percentage of the company’s investments in securities (including this transaction) listed in Article 3 of the “Regulations Governing the Acquisition or Disposal of Assets by Public Issuers” in the company’s most recent financial statements as a proportion of total assets and equity attributable to the owners of the parent company and the amount of working capital in the most recent financial statements (Note 2):

  • Percentage of total assets in the company’s most recent financial statements: 96.84%
  • Percentage of equity attributable to the owners of the parent company in the company’s most recent financial statements: 110.37%
  • Working capital: NT$216,912,000

14. Broker and brokerage fees: Not applicable

15. Specific purpose or use of the acquisition or disposal: Long-term investment

16. Dissenting opinions of directors for this transaction: None

17. Is this transaction a related-party transaction? No

18. Date of approval by the board of directors: September 25, 2023

19. Date of acknowledgment by the supervisor or approval by the audit committee: September 25, 2023

20. Does this transaction involve an auditor issuing an adverse opinion? Not applicable

21. Name of the accounting firm: Lixun Joint Certified Public Accountants Office

22. Name of the accountant: Gan Yiwei

23. Accountant’s license number: Allianz No. 09800149

24. Does it involve a change in the business model? No

25. Explanation of the change in the business model: Not applicable

26. Transactions with the counterparty in the past year and expected transactions with the counterparty in the next year: Not applicable

27. Source of funds: Not applicable

28. Other disclosures: The USD exchange rate is 32.

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