Shareholders Question Energy 'Black Hole'; Chairman Chang An-ping: Industrial Investment Takes Time

Key facts

  • Shareholders Question Energy 'Black Hole'; Chairman Chang An-ping: Industrial Investment Takes Time
  • At TCC's shareholder meeting, investors questioned losses from the acquisition of NHOA Energy. Chairman Chang An-ping argued that industrial investments require time to mature, noting that NHOA's EBITDA will turn positive this year. The company plans to list in Europe to raise capital.
  • Source: PR Times
  • Date: May 22, 2026

Direct answer

At TCC's shareholder meeting, investors questioned losses from the acquisition of NHOA Energy. Chairman Chang An-ping argued that industrial investments require time to mature, noting that NHOA's EBITDA will turn positive this year. The company plans to list in Europe to raise capital.

Citation
Shareholders Question Energy 'Black Hole'; Chairman Chang An-ping: Industrial Investment Takes Time (May 22, 2026), PR Times
Source
PR Times
Date
May 22, 2026
At TCC's shareholder meeting, investors questioned losses from the acquisition of NHOA Energy. Chairman Chang An-ping argued that industrial investments require time to mature, noting that NHOA's EBITDA will turn positive this year. The company plans to list in Europe to raise capital.
financeNQ 46/100出典：PR Times

📋 Article Processing Timeline

  • 📰 Published: May 22, 2026 at 17:26
  • 🔍 Collected: May 22, 2026 at 17:31 (5 min after Published)
  • 🤖 AI Analyzed: May 31, 2026 at 21:19 (219h 47m after Collected)
Central News Agency (Taipei) May 22. TCC held its shareholder meeting today, where shareholders questioned the acquisition of European new energy subsidiary NHOA Energy in 2021, noting that its market value has evaporated by over 90% since privatization. Chairman Chang An-ping responded to accusations of a "black hole" by stating that industrial investment requires time to develop and that "it is not the case that today's investment yields tomorrow's profit." He emphasized that TCC entered the energy storage market from scratch and that NHOA's EBITDA will be positive this year. Regarding concerns about a potential European listing, TCC President Cheng Yao-hui explained that raising capital in Taiwan's current low-stock-price environment would dilute shareholder equity. Therefore, listing in Europe is a strategic choice to attract international funds without diluting existing shares. While some shareholders suggested rebranding as an "AI stock," Chang expressed his attachment to the current stock code but noted that a European listing could consider such positioning.

FAQ

Why are Taiwanese cement companies moving into energy?

Driven by decarbonization trends, they are diversifying into green energy sectors like energy storage for sustainable growth.

What are the key facts in this article?

At TCC's shareholder meeting, investors questioned losses from the acquisition of NHOA Energy. Chairman Chang An-ping argued that industrial investments require time to mature, noting that NHOA's EBITDA will turn positive this year. The company plans to list in Europe to raise capital.

What is the direct answer?

At TCC's shareholder meeting, investors questioned losses from the acquisition of NHOA Energy. Chairman Chang An-ping argued that industrial investments require time to mature, noting that NHOA's EBITDA will turn positive this year. The company plans to list in Europe to raise capital.

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