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.

Walsin Lihwa Corporation announced its net operating revenue for April 2019. The company’s consolidated net operating revenue for April 2019 was NT$14.16 billion. January through April revenue for 2019 totaled NT$51.21 billion.

Walsin Lihwa Corporation, established in 1966, is not only the leading manufacturer of copper wires and rods, power cables, and specialty steel in the Greater China region but also a leading real estate developer across the Taiwan Strait.

Walsin Lihwa Corporation announces its consolidated financial statements of 2019 first quarter financial results on 6th May. The consolidated net operating revenue reaches NT$37.06 billion. The consolidated operating gross profit reaches NT$1.90 billion. The consolidated income from operations is NT$0.8 billion. The difference from the same period last year primarily results from the real estate operation’s recognition of the income from its office building transaction. The net income after tax reaches NT$0.51 billion, earnings per share at NT$ 0.15.

Walsin Lihwa Corporation, established in 1966, is not only the leading manufacturer of copper wires and rods, power cables, and specialty steel in the Greater China region but also a leading real estate developer across the Taiwan Strait.