Taipower Pays Additional NT$5.5 Billion; Cheng Uei to Recover Approx. NT$1.4 Billion Loss
Taipower has agreed to pay an additional NT$55.57 billion to Foxwell Energy, a subsidiary of Cheng Uei Precision, for an offshore wind power project. This is expected to allow Cheng Uei to recognize a loss recovery of nearly NT$1.4 billion, boosting its stock price.
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- 📰 Published: April 20, 2026 at 15:55
- 🔍 Collected: April 20, 2026 at 16:01 (6 min after Published)
- 🤖 AI Analyzed: April 20, 2026 at 16:04 (2 min after Collected)
(Central News Agency) Cheng Uei Precision subsidiary Foxwell Energy announced last Friday that Taipower has agreed to pay additional funds of approximately NT$55.57 billion. With Cheng Uei holding nearly 25% of Foxwell Energy, it is expected to recognize a loss recovery of approximately NT$1.4 billion proportionally, boosting Cheng Uei's stock price to the daily limit today.
Foxwell Energy, a subsidiary of Cheng Uei, undertook Taipower's Phase 2 offshore wind power project. Due to factors such as the pandemic, the Russia-Ukraine war, and global shipping shortages, construction costs surged. After negotiations with Taipower failed, the company advanced the project costs and recognized the losses. This resulted in a massive loss of NT$15.942 billion for Foxwell Energy last year, with a net loss per share of NT$60.
As Cheng Uei holds nearly 25% of Foxwell Energy, it recognized proportional losses, leading to Cheng Uei's consolidated net loss attributable to the parent company of NT$3.065 billion in 2025, marking its largest annual loss and a net loss per share of NT$6.62. Consequently, Cheng Uei's stock price fell to a more than three-year low. After negotiations, Foxwell Energy announced last Friday that Taipower had agreed to pay additional funds of approximately NT$55.57 billion, bringing relief to Cheng Uei's stock price today.
Furthermore, Cheng Uei continues to consolidate its investments and group structure. Last week, its subsidiary Power Channel Limited announced its decision to dispose of no more than 10.38 million shares of Chixing Data Technology Company, intending to conduct the transaction through a tender offer via a securities firm, aiming to improve its financial structure. Chixing Data is headquartered in Shenzhen, China, and is listed on the Shenzhen Stock Exchange's ChiNext board, primarily operating IoT smart terminals and data storage devices.
Additionally, based on its overall operations and investment planning, Cheng Uei has decided to acquire 50% of its subsidiary Zhongwei Energy's equity from Foxwell Energy for NT$800 million. (Editor: Huang Guolun) 1150420
Foxwell Energy, a subsidiary of Cheng Uei, undertook Taipower's Phase 2 offshore wind power project. Due to factors such as the pandemic, the Russia-Ukraine war, and global shipping shortages, construction costs surged. After negotiations with Taipower failed, the company advanced the project costs and recognized the losses. This resulted in a massive loss of NT$15.942 billion for Foxwell Energy last year, with a net loss per share of NT$60.
As Cheng Uei holds nearly 25% of Foxwell Energy, it recognized proportional losses, leading to Cheng Uei's consolidated net loss attributable to the parent company of NT$3.065 billion in 2025, marking its largest annual loss and a net loss per share of NT$6.62. Consequently, Cheng Uei's stock price fell to a more than three-year low. After negotiations, Foxwell Energy announced last Friday that Taipower had agreed to pay additional funds of approximately NT$55.57 billion, bringing relief to Cheng Uei's stock price today.
Furthermore, Cheng Uei continues to consolidate its investments and group structure. Last week, its subsidiary Power Channel Limited announced its decision to dispose of no more than 10.38 million shares of Chixing Data Technology Company, intending to conduct the transaction through a tender offer via a securities firm, aiming to improve its financial structure. Chixing Data is headquartered in Shenzhen, China, and is listed on the Shenzhen Stock Exchange's ChiNext board, primarily operating IoT smart terminals and data storage devices.
Additionally, based on its overall operations and investment planning, Cheng Uei has decided to acquire 50% of its subsidiary Zhongwei Energy's equity from Foxwell Energy for NT$800 million. (Editor: Huang Guolun) 1150420