(11) To establish a wholly-owned subsidiary in the mainland to lay out the panel components and modules market

Recently, according to Taiwanese media reports, the board of directors of Micro LED manufacturer Nitron Technology passed a major resolution to spend no more than US$19 million (approximately NT$610 million) to establish a wholly-owned subsidiary in mainland China, mainly engaged in the production, manufacturing and sales of panel components and modules, aiming to actively expand the mainland market. This investment is subject to approval by the competent authority.

This investment plan is in line with Nichuang’s global operation strategy that it previously mentioned at the press conference, which is to strengthen the existing advantages in Taiwan and actively explore the mainland China market. General Manager Lin Ziyang pointed out that although operations in the first quarter were disrupted by off-season factors, market demand is expected to increase significantly from the second quarter, and the full-year revenue and profits will be better than last year.

He emphasized that mainland China is an important global market. In addition to expanding operations in the United States, it will also strengthen mainland China's local manufacturing capabilities. Together with this investment, the total investment limit approved by the Ni Venture Capital Review Committee in mainland China is US$21 million.