Evergreen International Corp.: Announcement of Board of Directors' Resolution on Capital Reduction to Offset Losses and Convening a Major Information Press Conference
Evergreen International Corp. announced its Board of Directors approved a capital reduction plan to offset losses, aiming to improve its financial structure. This plan, involving a capital decrease of NT$1,343,970,560 (16.2949753%), addresses ongoing losses from its department store business and will be presented at the shareholders' meeting on June 18, 2026.
📋 Article Processing Timeline
- 📰 Published: April 28, 2026 at 09:00
- 🔍 Collected: April 29, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: April 29, 2026 at 08:16 (15 min after Collected)
1. Date of Board of Directors' resolution: 2026/04/28
2. Reason for capital reduction: To improve financial structure, a capital reduction to offset losses is planned.
3. Capital reduction amount: NT$1,343,970,560
4. Shares to be cancelled: 134,397,056 shares
5. Capital reduction ratio: 16.2949753%
6. Capital after reduction: NT$6,903,790,110
7. Scheduled date of shareholders' meeting: 2026/06/18
8. Number of listed common shares after the listing of new shares following capital reduction: 690,379,011 shares
9. Ratio of listed common shares after the listing of new shares following capital reduction to total outstanding common shares (number of listed common shares after capital reduction / total outstanding common shares after capital reduction): 100%
10. For cases where the number of listed common shares after capital reduction (in the preceding two items) is less than 60 million shares and less than 25%, please explain the countermeasures for low stock liquidity: Not applicable
11. Capital reduction record date: Not yet determined
12. Other matters that should be specified:
The company held a press conference at the stock exchange at 17:00 on April 28 to announce the Board of Directors' resolution to proceed with the capital reduction to offset losses, which will be submitted for resolution at the ordinary shareholders' meeting on June 18, 2026.
This is because the company has continuously suffered losses from its department store business for many years. As resolved by the Board of Directors in 2025, the company had successively disposed of some shares in its investee subsidiary Grand Ocean Retail Group Limited (stock code: 5907, Grand Ocean Retail Group Limited / British Cayman Islands registered Grand Ocean Commercial Group Holdings Co., Ltd.). As of December 30, 2025, certified by accountants, the company no longer had substantial control over Grand Ocean-KY, and thus adopted the equity method for recognition and delisted it from the consolidated financial statements, leading to significant changes in various assets, liabilities, and related profit/loss.
According to the financial audit report for 2025, the company's paid-in capital was NT$8,247,760,670, with a par value of NT$10 per share, issuing 824,776,067 common shares. As of December 31, 2025, the unappropriated retained earnings to cover losses amounted to NT$1,699,872,544. The company's Board of Directors resolved to proceed with the capital reduction to offset losses, aiming to improve the financial structure and enhance overall operational performance, thereby establishing a more stable foundation for long-term development. In accordance with Article 239 of the Company Act, the company plans to first use capital reserves totaling NT$355,901,984 to offset losses, and then proceed with the capital reduction. The capital reduction amount is NT$1,343,970,560, with 134,397,056 outstanding shares to be cancelled. The capital reduction ratio is approximately 16.2949753%, meaning approximately 162.949753 shares will be reduced for every thousand shares, or approximately 837.050247 shares will be exchanged for every thousand shares. After the capital reduction, the paid-in capital will be NT$6,903,790,110, with a total of 690,379,011 common shares issued.
The capital reduction plan to offset losses will be executed after its resolution by the shareholders' meeting on June 18, 2026, and approval by the competent authority.
2. Reason for capital reduction: To improve financial structure, a capital reduction to offset losses is planned.
3. Capital reduction amount: NT$1,343,970,560
4. Shares to be cancelled: 134,397,056 shares
5. Capital reduction ratio: 16.2949753%
6. Capital after reduction: NT$6,903,790,110
7. Scheduled date of shareholders' meeting: 2026/06/18
8. Number of listed common shares after the listing of new shares following capital reduction: 690,379,011 shares
9. Ratio of listed common shares after the listing of new shares following capital reduction to total outstanding common shares (number of listed common shares after capital reduction / total outstanding common shares after capital reduction): 100%
10. For cases where the number of listed common shares after capital reduction (in the preceding two items) is less than 60 million shares and less than 25%, please explain the countermeasures for low stock liquidity: Not applicable
11. Capital reduction record date: Not yet determined
12. Other matters that should be specified:
The company held a press conference at the stock exchange at 17:00 on April 28 to announce the Board of Directors' resolution to proceed with the capital reduction to offset losses, which will be submitted for resolution at the ordinary shareholders' meeting on June 18, 2026.
This is because the company has continuously suffered losses from its department store business for many years. As resolved by the Board of Directors in 2025, the company had successively disposed of some shares in its investee subsidiary Grand Ocean Retail Group Limited (stock code: 5907, Grand Ocean Retail Group Limited / British Cayman Islands registered Grand Ocean Commercial Group Holdings Co., Ltd.). As of December 30, 2025, certified by accountants, the company no longer had substantial control over Grand Ocean-KY, and thus adopted the equity method for recognition and delisted it from the consolidated financial statements, leading to significant changes in various assets, liabilities, and related profit/loss.
According to the financial audit report for 2025, the company's paid-in capital was NT$8,247,760,670, with a par value of NT$10 per share, issuing 824,776,067 common shares. As of December 31, 2025, the unappropriated retained earnings to cover losses amounted to NT$1,699,872,544. The company's Board of Directors resolved to proceed with the capital reduction to offset losses, aiming to improve the financial structure and enhance overall operational performance, thereby establishing a more stable foundation for long-term development. In accordance with Article 239 of the Company Act, the company plans to first use capital reserves totaling NT$355,901,984 to offset losses, and then proceed with the capital reduction. The capital reduction amount is NT$1,343,970,560, with 134,397,056 outstanding shares to be cancelled. The capital reduction ratio is approximately 16.2949753%, meaning approximately 162.949753 shares will be reduced for every thousand shares, or approximately 837.050247 shares will be exchanged for every thousand shares. After the capital reduction, the paid-in capital will be NT$6,903,790,110, with a total of 690,379,011 common shares issued.
The capital reduction plan to offset losses will be executed after its resolution by the shareholders' meeting on June 18, 2026, and approval by the competent authority.