Settlement of litigation with United Renewable Energy Co.,
Ltd.
Date of events
2022/08/18
To which item it meets
paragraph 2
Statement
1.Parties to the legal matter:Wafer Works Corporation and
United Renewable Energy Co., Ltd.
2.Name of the court or punishing agency of the legal matter:
Taiwan High Court
3.Reference/Case number of relevant documents of the legal matter:
110 nian du zhong shang geng yi tzu No. 208
4.Date of occurrence of the event:2022/08/18
5.Details of occurrence (including the matter under dispute):
The Company and United Renewable Energy Co., Ltd. have reached
a settlement on the long term supply agreement of solar product.
6.Handling procedure:
1.The Company and United Renewable Energy Co., Ltd.
terminate the litigation via mediation at Taiwan High Court on
Aug. 18, 2022.
2.The Company and an upstream supplier signed a termination agreement
of solar grade polysilicon on the same day (Aug. 18, 2022).
The rights and obligations of the original contracts for both
parties have since been released simultaneously.
7.Impact on the Company's finance and business and projected amount:
The customer advance forfeited from United Renewable Energy Co., Ltd.
offsets the prepayment paid to the upstream supplier. Therefore,
the case brings no significant impact on the Company's financial
standing and business operation.
8.Countermeasures and improvement status:None.
9.Any other matters that need to be specified:None.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Wafer Works Corporation published this content on 18 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 August 2022 10:43:02 UTC.
WAFER WORKS CORPORATION is a Taiwan-based company principally engaged in the development, design, manufacture and distribution of semiconductor products. The Company mainly operates through two business segments. The Operation of Semiconductor Products segment is mainly engaged in the manufacture and sales of semiconductor wafers. The Operation of Optoelectronic Products segment is mainly engaged in the manufacture and sales of optoelectronic products. The Companyâs primary products include silicon wafers, silicon rods, single-side polish wafers, double-side polish wafers, epitaxial wafers, sapphire wafers and substrates. The Company mainly distributes its products in domestic market and overseas markets, including the Mainland China, Hong Kong, the United States of America (the USA) and others.
WAFER WORKS CORPORATION 
