Ching Feng to Dispose of Land and Buildings of Vietnam Subsidiary to Related Party

Ching Feng announced today on behalf of its Vietnamese subsidiary, Fuyue Co., Ltd., that it plans to dispose of land and buildings to a related party, Vietnam Ching Feng Co., Ltd. The case has been approved by the board of directors, and the chairman has been authorized to handle related matters at a price not lower than 70 billion Vietnamese Dong. Ching Feng stated that in order to implement the optimization of group resource allocation and support the expansion needs of the curtain business of Vietnam Ching Feng Co., Ltd., it intends to sell the land, buildings, and auxiliary equipment of Fuyue Co., Ltd. to Vietnam Ching Feng Co., Ltd. In its early stages, Ching Feng focused on the production and sale of traditional bamboo blinds. Later, it introduced production lines for faux-wood blinds, using modern technology for mass production to popularize window decoration products. It has since extended its product range to home lifestyle items, including bedding, table decor, bathroom supplies, pillows, cushions, blankets, and kitchenware, aiming to become a comprehensive supplier of home lifestyle products. Ching Feng's revenue for the first quarter was NT$1.207 billion, with a net profit attributable to the parent company of NT$89.36 million and a basic earnings per share of NT$0.51.