Home PV Manufacturing To announce the investment in China area on behalf of major subsidiary Motech (Suzhou) Renewable Energy Co., Ltd
To announce the investment in China area on behalf of major subsidiary Motech (Suzhou) Renewable Energy Co., Ltd

To announce the investment in China area on behalf of major subsidiary Motech (Suzhou) Renewable Energy Co., Ltd

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1.Date of occurrence of the event: 2017/01/20
2.Method of the present increase (decrease) in investment: The Company’s major subsidiary Motech (Suzhou) Renewable Energy Co., Ltd. resolved to invest Motech (Maanshan) Renewable Energy Co., Ltd..
3.Transaction volume, price per unit, and total monetary amount of the transaction: Amount of capital increment currently planned is RMB 200M.
4.Company name of the invested mainland Chinese company: Motech (Maanshan) Renewable Energy Co., Ltd.
5.Paid-in capital of said invested mainland Chinese company: RMB105.5M
6.Amount of new capital increment currently planned by said invested mainland Chinese company: RMB 200M
7.Main business items of said invested mainland Chinese company: Manufacturing and machining of solar cell and module products.
8.Type of CPA opinion issued for the financial statement of said invested mainland Chinese company for the most recent fiscal year: N/A
9.Net worth of said invested mainland Chinese company on the financial statement for the most recent fiscal year: N/A
10.Amount of profit/loss of said invested mainland Chinese company on the financial statement for the most recent fiscal year: N/A
11.Amount of actual investment to date in said invested mainland Chinese company: RMB 95.5M
12.Counterparty to the transaction and its relationship to the Company: N/A
13.Where the counterparty to the transaction is an actual related party, public announcement shall also be made of the reason for choosing the related party as the counterparty and the identity of the previous owner (including its relationship with the company and the trading counterpart), the date of transfer, and the price: N/A
14.Where a person who owned the subject matter of the transaction within the past five years has been an actual related party of the company, public announcement shall also be made of the dates and prices of acquisition and disposal by the related party and such party’s relationship to the company at those times: N/A
15.Gain (or loss) on disposal: N/A
16.Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important stipulations: N/A
17.The manner of deciding on this transaction, the reference basis for the decision on price and the decision-making department: Board of Directors.
18.Broker: N/A
19.Concrete purpose of the acquisition or disposal: Long-term investment
20.Do the directors have any objection to the present transaction?: None
21.Total amount of mainland China area investment (including the present investment) approved by the
Investment Commission to date: USD87,000,000
22.Ratio of the total amount of investment (including the present investment) in the mainland China area approved by the Investment Commission to date to the paid-in capital on the financial statement for the most recent period: 55.85%
23.Ratio of the total amount of investment (including the present investment) in the mainland China area approved by the Investment Commission to date to the total assets on the financial statement for the most recent period: 10.46%
24.Ratio of the total amount of investment (including the present investment) in the mainland China area approved by the Investment Commission to date to the shareholders’equity on the financial statement for the most recent period: 19.26%
25.Total amount of actual investment in the mainland China area to date: USD54,000,000
26.Ratio of the total amount of actual investment in the mainland China area to date to the paid-in capital on the financial statement for the most recent period: 35.28%
27.Ratio of the total amount of actual investment in the mainland China area to date to the total assets on the financial statement for the most recent period: 6.61%
28.Ratio of the total amount of actual investment in the mainland China area to date to the shareholders’ equity on the financial statement for the most recent period: 12.16%
29.Amount of recognized profits and losses on investment in the mainland China area for the most recent three fiscal years: 2013: NTD385,000K;2014: NTD 268,128K;2015: NTD440,116K
30.Amount of profit remitted back to Taiwan for the most recent three fiscal years: 2013: NTD 0; 2014: NTD 0 ;2015: NTD 0
31.Has the CPA issued an opinion on the unreasonableness of the price of the current transaction?: N/A
32.Any other matters that need to be specified: None

Source:motechsolar
Anand Gupta Editor - EQ Int'l Media Network

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