Fulltech Fiber Glass : Board of Directors Approved its BVI Subsidiary's Capital Injection in the China Subsidiary

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Provided by: FULLTECH FIBER GLASS CORP.
SEQ_NO	1	Date of announcement	2022/07/06	Time of announcement	15:17:37
Subject	Fulltech Board of Directors Approved its BVI Subsidiary's Capital Injection in the China Subsidiary
Date of events	2022/07/06	To which item it meets	paragraph 20
Statement	1.Date of occurrence of the event:2022/07/06 2.Method of the current increase (decrease) in investment:Increase Fulltech (Dong Guan) Fiber Glass Co., Ltd.'s working capital via the reinvestment of a subsidairy in a third area by Fulltech's BVI Subsidiary 3.Unit no., unit price, and monetary value of the transaction:@USD 8,000,000 4.Company name of the mainland Chinese investee: Fulltech(Dong Guan) Fiber Glass Co., Ltd. 5.Paid-in capital of aforementioned mainland Chinese investee: USD 65,500,000 6.Amount of capital increase currently planned for the aforementioned mainland Chinese investee:USD 8,000,000 7.Main businesses of the aforementioned mainland Chinese investee:Fiberglass fabric production and sales business 8.Type of CPA opinion in the latest annual financial statements of the aforementioned mainland Chinese investee:Unqualified Opinion 9.Total equity of the aforementioned mainland Chinese investee in the latest annual financial statements:NTD 1,832,074,000 10.Amount of profit/loss of the aforementioned mainland Chinese investee in the latest annual financial statements: NTD381,070,000 11.Amount of actual investment in the aforementioned mainland Chinese investee, up to the present moment:USD 65,500,000 12.Trading counterparty and its relationship to the Company: 100% holding subsidiary of Fulltech and Fulltech (BVI) 13.Where the trading counterparty is a related party, announcement shall also be made of the reason for choosing the related party as trading counterparty and the identity of the previous owner, its relationship with the Company and the trading counterparty, and the previous date and monetary value of transfer:NA 14.Where an owner of the underlying assets within the past five years has been an related party of the Company, the announcement shall also include the date and price of acquisition and disposal by the related party, and its relationship to the Company at the time of the transaction:NA 15.Profit (or loss) upon disposal:NA 16.Terms of delivery or payment (including payment period and monetary value), restrictive covenants in the contract, and other important terms and conditions:NA 17.The manner in which the current transaction was decided, the reference basis for the decision on price, and the decision-making unit:Board of Directors 18.Broker:NA 19.Concrete purpose of the acquisition or disposal:Long-term investment 20.Whether the directors expressed any objection to the current transaction:No 21.Whether the counterparty of the current transaction is a related party:Yes 22.Date of the Board of Directors' resolution:2022/07/06 23.Date of ratification by supervisors or approval by the Audit Committee:NA 24.Total amount of investment in mainland China (including the current investment) approved by the Investment Commission, up to the present moment:USD 75,000,000 25.Ratio of the total amount of investment in mainland China (including the current investment) approved by the Investment Commission, up to the present moment, to the paid-in capital on the latest financial statements:53.50% 26.Ratio of the total amount of investment in mainland China (including the current investment) approved by the Investment Commission, up to the present moment, to the total assets on the latest financial statements:16.84% 27.Ratio of the total amount of investment in mainland China (including the current investment) approved by the Investment Commission, up to the present moment, to the shareholders' equity of the parent company on the latest financial statements:30.32% 28.Total amount of actual investment in mainland China, up to the present moment:NTD 2,055,276,000 29.Ratio of the total amount of actual investment in mainland China, up to the present moment, to the paid-in capital on the latest financial statements:47.97% 30.Ratio of the total amount of actual investment in mainland China, up to the present moment, to the total assets on the latest financial statements:15.10% 31.Ratio of the total amount of actual investment in mainland China, up to the present moment, to the shareholders' equity of the parent company on the latest financial statements:27.18% 32.Amount of recognized profit (loss) on investment in mainland China for the last three years: 2019：NTD -242,382,000 2020：NTD -9,566,000 2021：NTD 381,537,000 33.Amount of profit remitted back to Taiwan for the last three years:NA 34.Has the CPA issued an opinion on the unreasonableness of the price of the current transaction?:NA 35.Name of the CPA firm:NA 36.Name of the certifying CPA:NA 37.The practice certificate number of the CPA:NA 38.Any other matters that need to be specified:None