[Shinfox Energy] Announcement of Board Approval to Dispose of Equity in Subsidiary Starwell Energy Corp.
Key facts
- [Shinfox Energy] Announcement of Board Approval to Dispose of Equity in Subsidiary Starwell Energy Corp.
- Shinfox Energy's board approved the sale of 80 million shares of its subsidiary Starwell Energy to its ultimate parent company, Cheng Uei Precision Industry, for NTD 800 million to replenish working capital.
- Source: PR Times
- Date: April 17, 2026
Direct answer
Shinfox Energy's board approved the sale of 80 million shares of its subsidiary Starwell Energy to its ultimate parent company, Cheng Uei Precision Industry, for NTD 800 million to replenish working capital.
- Citation
- [Shinfox Energy] Announcement of Board Approval to Dispose of Equity in Subsidiary Starwell Energy Corp. (April 17, 2026), PR Times
- Source
- PR Times
- Date
- April 17, 2026
Shinfox Energy's board approved the sale of 80 million shares of its subsidiary Starwell Energy to its ultimate parent company, Cheng Uei Precision Industry, for NTD 800 million to replenish working capital.
📋 Article Processing Timeline
- 📰 Published: April 17, 2026 at 09:00
- 🔍 Collected: April 18, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: April 18, 2026 at 21:50 (13h 50m after Collected)
1. Name and nature of underlying asset: Equity in Starwell Energy Corp.
2. Date of occurrence: April 17, 2026
3. Date of board resolution: April 17, 2026
4. Other approval dates: Not applicable
5. Transaction volume, unit price, and total amount: 80,001 thousand shares; Total amount: NTD 800,010 thousand.
6. Counterparty and relationship: Cheng Uei Precision Industry Co., Ltd., the Company's ultimate parent company.
7. Reason for selecting related party: Operational planning. Previous transfer: The Board approved participation in Starwell's capital increase on Nov 8, 2024, acquiring a 50% stake for NTD 800,010 thousand.
8-10. Not applicable.
11. Delivery/payment conditions: Handled according to contract terms.
12. Decision method: Approved by the Company's Board of Directors based on CPA's fairness opinion.
13. Net worth per share: NTD 9.94.
14. Cumulative holdings: None.
15. Ratio of securities investment to total assets: 25.45%; Ratio to equity: 335.98%; Working capital: NTD -2,722,777 thousand.
16. Broker fees: Not applicable.
17. Purpose: To optimize overall resource allocation and replenish working capital.
18. Dissenting directors: None.
19. Related party transaction: Yes.
20. Audit committee approval date: April 17, 2026.
21-30. None / Not applicable. This is an intra-group transaction; thus, no estimated disposal gain/loss will be recognized.
2. Date of occurrence: April 17, 2026
3. Date of board resolution: April 17, 2026
4. Other approval dates: Not applicable
5. Transaction volume, unit price, and total amount: 80,001 thousand shares; Total amount: NTD 800,010 thousand.
6. Counterparty and relationship: Cheng Uei Precision Industry Co., Ltd., the Company's ultimate parent company.
7. Reason for selecting related party: Operational planning. Previous transfer: The Board approved participation in Starwell's capital increase on Nov 8, 2024, acquiring a 50% stake for NTD 800,010 thousand.
8-10. Not applicable.
11. Delivery/payment conditions: Handled according to contract terms.
12. Decision method: Approved by the Company's Board of Directors based on CPA's fairness opinion.
13. Net worth per share: NTD 9.94.
14. Cumulative holdings: None.
15. Ratio of securities investment to total assets: 25.45%; Ratio to equity: 335.98%; Working capital: NTD -2,722,777 thousand.
16. Broker fees: Not applicable.
17. Purpose: To optimize overall resource allocation and replenish working capital.
18. Dissenting directors: None.
19. Related party transaction: Yes.
20. Audit committee approval date: April 17, 2026.
21-30. None / Not applicable. This is an intra-group transaction; thus, no estimated disposal gain/loss will be recognized.
FAQ
What is the name of the underlying asset being disposed of in this transaction?
The underlying asset being disposed of is the equity in Starwell Energy Corp.
Who is the counterparty in this transaction and what is their relationship to the company?
The counterparty is Cheng Uei Precision Industry Co., Ltd., which is the company's ultimate parent company.
What is the total transaction volume and the total amount for the disposal of the equity?
The transaction volume is 80,001 thousand shares for a total amount of NTD 800,010 thousand.
What is the primary purpose of disposing of the equity in Starwell Energy Corp.?
The purpose is to optimize overall resource allocation and to replenish the company's working capital.
Why will there be no estimated disposal gain or loss recognized from this transaction?
No gain or loss will be recognized because this transaction is an intra-group transaction.