Walsin Lihwa Corporation Announced the Sale of its U.S. Solar Development Business to ECP for restructuring its business strategy of green energy

Walsin Lihwa Corporation announced today that it agreed to spin off and sell the development business of its U.S. subsidiary, Borrego Solar Systems, Inc., to ECP, a leading energy transition-focused investor with an almost two decades-long reputation in the electricity, renewable and sustainable solutions sector. The total transaction amount is estimated to reach USD 567 million and the gain on disposal for Walsin will be USD 288 million.

Walsin Lihwa has expanded its business scope into renewable industry since 2008 and invested in Borrego Solar Systems, Inc. in order to offer a broad range of renewable energy services. Borrego accelerates the development and delivery of large commercial, community solar, utility-scale solar and energy storage projects in the United States. It has a track record of superior performance across the hundreds of large solar and energy storage projects it has designed, built and maintains throughout the United States. The motivation behind the sale of Borrego’s development business to ECP is to break through the bottleneck of national expansion of the business with the aid of ECP’s impressive team and its expertise in renewable energy investing. Walsin Lihwa will invest continuously in its engineering, procurement and construction (EPC) and operations and maintenance (O&M) business units in order to capitalize on the rapidly expanding opportunity set in renewable energy creation and storage.

Walsin Lihwa Announces 2022 First Quarter Financial Results

Walsin Lihwa Corporation announces its consolidated financial statements of 2022 first quarter financial results on 6th May. The consolidated net operating revenue reaches NT$42.56 billion. The consolidated operating gross profit reaches NT$5.49 billion. The net income after tax reaches NT$3.83 billion, earnings per share at NT$ 1.12.

Walsin Lihwa Corporation, established in 1966, is not only the leading manufacturer of wire & cable, stainless steel, and resources business in the Greater China region but also a leading real estate developer across the Taiwan Strait.

Unveiling of Walsin Lihwa-NTU R&D Innovation Center as a New Paradigm of Academia Industry Cooperation

An R&D innovation center established by Walsin Lihwa and the National Taiwan University (NTU) was unveiled at the College of Engineering, NTU. NTU President C.M. Kuan and the faculty from individual departments of the college attended the unveiling ceremony. The R&D innovation center is intended for academia industry cooperation for metal material research, investment in green circular technologies, development of wastes applications green metal supply chain, green energies, energy saving and carbon reduction technologies, and cultivation of talents in relevant disciplines. The office of the R&D innovation center opened at the same time will be available for academia industry seminars, project presentations, product application demos, and cultivation of talents.

The results of a competition of academic poster design on the first ever technology exchange between Walsin Lihwa and the NTU starting 2022 were also announced at the same time, and scholarships were awarded to eighteen outstanding students. After the unveiling ceremony, there was an keynote session between Walsin Lihwa and the faculty of the College of Engineering, NTU as an effort to have academic resources more closely combined with industry applications to contribute to environmental sustainability and green energy industry development.

Walsin Lihwa’s Investment in Nickel for Batteries Provides Momentum to a New Phase of Growth

Walsin Lihaw’s board meeting today passed a resolution to acquire 50.1% equity of PT. Sunny Metal Industry respectively from Ever Rising Limited and Berg Holding Limited under Tsingshan Holding Group. The acquisition amounting to US$200 million are intended to invest in nickel matte production and a power generation plant in PT. Indonesia Weda Bay Industrial Park.

As Walsin Lihwa will increase investment in its nickel matte and nickel pig iron production capacities, the newly acquired PT. Sunny Metal Industry is setting up four rotary kiln electric furnace lines for nickel matte production as well as an inhouse power generation plant of 380,000 KWH. In mid-2021 PT. Sunny Metal Industry commenced setting up its furnace production lines, which are scheduled for completion by the end of 2022, and construction of the inhouse power generation plant is scheduled for completion in the second quarter of 2023. Before that, Walsin Lihwa will base on the ratio of its shareholding in PT. Sunny Metal Industry to further provide approximately US$180 million to finance the furnace production line and power plant construction. In 2023 PT. Sunny Metal Industry will be capable of independent production and sales, and its annual capacity of 55,000 tones pure nickel will amount to a significant step for Walsin Lihwa’s expansion into new energy industries.

To secure the stable supply of raw materials for stainless steel production, Walsin Lihwa established Walsin Nickel Industrial Indonesia at the end of 2019 to set up nickel pig iron and power plants in cooperation with Tsingshan Holding Group in PT. Indonesia Morowali Industrial Park. Walsin Nickel Industrial Indonesia’s plant construction for production of nickel pig iron as the upstream raw material for stainless steel was completed as scheduled despite pandemic impacts. Four production lines became operational one by one in the second half of 2021 to commence mass production and help boost the earnings of Walsin Lihwa. The acquisition of 50.1% equity of PT. Sunny Metal Industry this time to invest in nickel matte production and power generation is expected to increase Walsin Lihwa’s total production of nickel by 70% to approximately 68,000 tons for the production of stainless steel as well as manufacturers of electric vehicles and energy storage facilities.

Walsin Lihwa Announced March 2022 Sales Report

Walsin Lihwa Corporation announced its net operating revenue for March 2022. The company’s consolidated net operating revenue for March 2022 was NT$16.04 billion. January through March revenue for 2022 totaled NT$42.57 billion.

Walsin Lihwa Corporation, established in 1966, is not only the leading manufacturer of wire & cable, stainless steel, and resources business in the Greater China region but also a leading real estate developer across the Taiwan Strait.

Walsin Lihwa Announced February 2022 Sales Report

Walsin Lihwa Corporation announced its net operating revenue for February 2022. The company’s consolidated net operating revenue for February 2022 was NT$13.03 billion. January through February revenue for 2022 totaled NT$26.53 billion.

Walsin Lihwa Corporation, established in 1966, is not only the leading manufacturer of wire & cable, stainless steel, and resources business in the Greater China region but also a leading real estate developer across the Taiwan Strait.

Board Meeting of Walsin Lihwa Approves 2021 Financial Satements

Taipei, February 22– A board meeting of Walsin Lihwa today approved the company’s 2021 financial statements. The meeting also decided to hold the 2022 general shareholders’ meeting at 09:00 a.m. on May 13 (Fri.), 2022, at multifunctional hall, 1st Floor, No. 15, 168 Lane, Xingshan Road, Neihu District, Taipei City.

Because of good sales and earnings of the company’s Wire and Cable, Stainless Steel, and Resources Business Groups, as well as recognized earnings from the company’s solar power business in the US and equity investments in 2021, the 2021 consolidated operating revenue is approx. NT$156.66 billion, with a consolidated gross profit of NT19.81 billion. The net income after tax is approx. NT$14.64 billion with EPS of NT$4.27 and a cash dividend of NT$1.6 per share is planned.

Walsin Lihwa Corporation, established in 1966, is not only the leading manufacturer of wire & cable, stainless steel, and resources business in the Greater China region but also a leading real estate developer across the Taiwan Strait.

Walsin Lihwa Announced January 2022 Sales Report

Walsin Lihwa Corporation announced its net operating revenue for January 2022. The company’s consolidated net operating revenue for January 2022 was NT$ 13.50 billion.

Walsin Lihwa Corporation, established in 1966, is not only the leading manufacturer of wire & cable, stainless steel, and resources business in the Greater China region but also a leading real estate developer across the Taiwan Strait.

Walsin Lihwa Announced December 2021 Sales Report

Walsin Lihwa Corporation announced its net operating revenue for December 2021. The company’s consolidated net operating revenue for December 2021 was NT$17.48 billion. January through December revenue for 2021 totaled NT$156.12 billion.

Walsin Lihwa Corporation, established in 1966, is not only the leading manufacturer of wire & cable, stainless steel, and resources business in the Greater China region but also a leading real estate developer across the Taiwan Strait.

Walsin Lihwa Announced November 2021 Sales Report

Walsin Lihwa Corporation announced its net operating revenue for November 2021. The company’s consolidated net operating revenue for November 2021 was NT$14.61 billion. January through November revenue for 2021 totaled NT$138.64 billion.

Walsin Lihwa Corporation, established in 1966, is not only the leading manufacturer of wire & cable, stainless steel, and resources business in the Greater China region but also a leading real estate developer across the Taiwan Strait.