TECO and Walsin Lihwa (20th) held a major news press conference on the Stock Exchange. The two parties will form a strategic alliance through a resolution of the board of directors to deepen the long-term partnership through share exchanges and combine each other's strengths to enhance the competitiveness of both parties. Layout the next generation of smart grid, smart manufacturing and new energy industry applications for strategic cooperation. The two parties are based on mutual benefit, integrate existing customer resources, accelerate business development, and share the synergies produced by mutual business cooperation.

The two parties announced the exchange of shares by way of capital increase and issuance of new shares. Walsin Lihwa will exchange 205,332,690 shares for 171,103,730 TECO shares. The share conversion ratio is approximately 0.83 shares of TECO for every 1 share of Walsin Lihwa. It is expected that after the completion of the share swap transaction, Walsin Lihwa will hold approximately 8% of TECO Electric and TECO will hold approximately 6% of Walsin Lihwa.

TECO has strong technology and is one of the top five motor manufacturers in the world. It also has an excellent reputation in the fields of green energy industry, energy management and smart factories. Walsin Lihwa has been deeply involved in the field of basic materials for a long time, and is a leading manufacturer of wire and cable industry in Taiwan. In recent years, it has been actively developing products for industrial applications such as smart grid, solar and wind energy. Based on industry trends and market commonalities, this cooperation will combine the advantages of both parties, based on mutual benefit and win-win results, to jointly develop a new industry situation.

TECO and Walsin Lihwa have a long-standing relationship. They have a solid foundation of mutual trust and a long-term business relationship. This cooperation project focuses on each other's development vision and can complement each other. Therefore, both parties are optimistic about this strategic alliance. , Is confident to bring growth momentum to the two listed companies and create long-term benefits for all shareholders.

TECO Electric Co., Ltd.
TECO was founded in 1956, and has since entered the fields of heavy power, home appliances, information and communications, and catering services, and its business scope spans more than forty countries. TECO is a member of the Dow Jones Sustainability Index, and with the vision of "energy saving, emission reduction, intelligence, and automation", it is committed to building a world-class brand.

Walsin Lihwa Co., Ltd.
Walsin Lihwa Co., Ltd. was established in 1966. It is committed to the fields of wire and cable, stainless steel, resource business and commercial real estate. It is one of the leading manufacturers of wire and cable and stainless steel industries in Greater China, and is also a professional real estate developer on both sides of the strait.