Taiwan Paiho : The Company announced Boards resolved that Hon Shin Corp. sells its 100% equity of Vietnam Paihong Limited Company to Hong Kong Best Expectation Company.

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Provided by: Taiwan Paiho Limited
SEQ_NO	7	Date of announcement	2022/06/30	Time of announcement	20:21:03
Subject	The Company announced Boards resolved that Hon Shin Corp. sells its 100% equity of Vietnam Paihong Limited Company to Hong Kong Best Expectation Company.
Date of events	2022/06/30	To which item it meets	paragraph 20
Statement	1.Name and nature of the underlying assets (if preferred shares, the terms and conditions of issuance shall also be indicated, e.g., dividend yield, etc.): Hon Shin Corp. sells its 100% equity of Vietnam Paihong Limited Company to Hong Kong Best Expectation International Trading Limited . 2.Date of occurrence of the event:2022/06/30 3.Amount, unit price, and total monetary amount of the transaction: (1)Amount and unit price of the transaction：Not applicable. (2)Total monetary amount of the transaction：US$133 million. 4.Trading counterparty and its relationship with the Company (if the trading counterparty is a natural person and furthermore is not a related party of the Company, the name of the trading counterparty is not required to be disclosed): The related parties of the Group. 5.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 amount of transfer: (1)The reason for choosing the related party as trading counterparty: In conjunction with the restructuring of the Group's investment structure. (2)The identity of the previous owner, its relationship with the Company and the trading counterparty, and the previous date and monetary amount of transfer: Not applicable. 6.Where an owner of the underlying assets within the past five years has been a 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 with the Company at the time of the transaction: Not applicable. 7.Matters related to the current disposal of creditors' rights (including types of collaterals of the disposed creditor's rights; if creditor's rights over a related party, announcement shall be made of the name of the related party and the book amount of the creditor's rights, currently being disposed of, over such related party): Not applicable. 8.Profit or loss from the disposal (not applicable in cases of acquisition of securities) (those with deferral should provide a table explaining recognition): Not applicable. 9.Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important terms and conditions: (1)Terms of delivery or payment: In accordance with the contract and payment in cash. (2)Restrictive covenants in the contract, and other important terms and conditions: None. 10.The manner of deciding on this transaction (such as invitation to tender, price comparison, or price negotiation), the reference basis for the decision on price, and the decision-making unit: (1)The manner of deciding on this transaction: It shall be negotiated by both parties. (2)The reference basis for the decision on price： Refer to the equity valuation report issued by Li-Li Wong, a certified public accountant of PricewaterhouseCoopers, Taiwan, and the independent expert opinion issued by Hsiang-Ning Hu, a certified public accountant of Yangtze CPAs and Co. on the price rationality. (3)The decision-making unit：Board of directors. 11.Net worth per share of the Company's underlying securities acquired or disposed of: Not applicable. 12.Cumulative no.of shares held (including the current transaction), their monetary amount, shareholding percentage, and status of any restriction of rights (e.g., pledges), as of the present moment: (1)Cumulative no.of shares held：130,000,000 equities. (2)Cumulative monetary amount held：US$133 million. (3)Shareholding percentage：100%. (4)Status of anyrestriction of rights (e.g., pledges)：None. 13.Current ratio of securities investment (including the current trade, as listed in article 3 of Regulations Governing the Acquisition and Disposal of Assets by Public Companies) to the total assets and equity attributable to owners of the parent as shown in the most recent financial statement and working capital as shown in the most recent financial statement as of the present: (1)Ratio to the total assets：25.39% (2)Ratio to the equity attributable to TAIWAN PAIHO LIMITED：37.76% (3)Working capital：NT$-987,599 thousand. (Hong Kong Best Expectation International Trading Limited, that acquired the assets,has no shortage of working capital.) 14.Broker and broker's fee: None. 15.Concrete purpose or use of the acquisition or disposal: In conjunction with the restructuring of the Group's investment structure. 16.Any dissenting opinions of directors to the present transaction: None. 17.Whether the counterparty of the current transaction is a related party: Yes. 18.Date of the board of directors resolution: 2022/06/30 19.Date of ratification by supervisors or approval by the Audit Committee: 2022/06/30 20.Whether the CPA issued an unreasonable opinion regarding the current transaction: No. 21.Name of the CPA firm: Yangtze CPAs and Co. 22.Name of the CPA: Hsiang-Ning Hu 23.Practice certificate number of the CPA: 59385 24.Whether the transaction involved in change of business model: No. 25.Details on change of business model: Not applicable. 26.Details on transactions with the counterparty for the past year and the expected coming year: Not applicable. 27.Source of funds: The self-owned capital and long-term bank loan etc. 28.Any other matters that need to be specified: Hon Shin Corp. is required to pay income tax (capital gains tax) in accordance with Vietnam investment laws and regulations, which is estimated to be about VND 20,932,000 thousand (equivalent to USD$883 thousand). (Deduction from equity account in accounting book according to the shareholding ratio, but the actual amount of tax paid shall be subject to the amount approved by the local tax bureau.)