Taipei, May 27, 2019 — A board meeting at Walsin Lihwa on May 24 resolved to sell 94.3% of the company’s shareholdings in Nanjing Walsin Metal Co. Ltd. to Gree Electric Appliances Inc. of Zhuhai. The divestment will be made through its subsidiaries Renowned International Limited and Walsin China Investment Co., Ltd. Walsin Lihwa has 83.97% shareholdings in Renowned International Limited, and Walsin China Investment Co., Ltd. is a wholly owned subsidiary of Walsin Lihwa. 

Nanjing Walsin Metal Co., Ltd. makes copper bars and wires as quality copper conductors for communication and power cables, construction wires, enameled wires, and electronics wires.

The transaction will be made based on the audited net asset value per share of Nanjing Walsin Metal Co., Ltd. on May 31 multiplied by 94.3% of Walsin Lihwa’s shareholdings in Nanjing Walsin Metal Co. Ltd. plus a premium of RMB$500 million.