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Material Information - 2021 - 2021Q4

2021/12/01 17:00:57
  • SEQ_NO
  • 1
  • Date of announcement
  • 2021/12/01
  • Time of announcement
  • 17:00:57
  • Speaker
  • YU.CHIN-PAO
  • Spokesperson Title
  • VP
  • Speaker phone
  • 28810721
  • Subject
  •  On behalf of Inventec Solar Energy Corporation announces that the board of directors apply to the court for pronouncement of its bankruptcy.
  • To which item it meets
  • 5
  • Date of events
  • 2021/12/01

Statement

1.Date of the petition or receipt of the court notice document:2021/12/01
2.Name of the court:Taiwan Taoyuan District Court
3.Issue date:NA
4.Document number:NA
5.Company name:Inventec Solar Energy Corporation
6.Relationship with the Company (please enter: the company itself, parent
company, or subsidiary):subsidiary
7.If a parent company or subsidiary company is entered, the mutual
shareholding percentages thereof:47.65%
8.Petitioner(s) or reorganizer(s):Inventec Solar Energy Corporation(ISEC)
9.Content of the petition or notice:The assets are insufficient to
set off its liabilities, the board of directors apply to the court for
pronouncement of its bankruptcy.
10.Total amount of liabilities:NTD$2,212,467,526
11.Handling procedure:
ISEC was established in 2010.It mainly engaged in the Solar energy business.
Affected by the rapid changes in the global solar energy industry
environment,low price competition from foreign competitors,tariff barriers
in Europe and the United States,trade protection etc.,it has led to a
slump in the demand for global solar energy industry.Although ISEC
has reduced the size of the organization,due to the recently severe outbreak
of Severe Pneumonia with Novel Pathogens and the solar energy industrial
depression,ISEC is unable to bear the continuous operating losses.
Its assets are still insufficient to set off its liabilities.The board of
directors apply to the court for pronouncement of its bankruptcy according
to the Company Act Article 211.
12.Any other matters that need to be specified:The accumulated losses of ISEC
have been recognized in the Inventec's consolidated financial statements and
the matter has no material impact on Inventec's financial and business
operations.
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