Century Wind Energy to Acquire Century Hsinxin Wind Energy and Rename to 'Century Energy Equipment Co., Ltd.'

Century Wind Energy (stock code: 2072) held a press conference with Century Hsinxin Wind Energy Co., Ltd. (hereinafter referred to as 'Century Hsinxin', stock code: 7752) on June 25, 2024, announcing that Century Wind Energy will acquire 100% of Century Hsinxin's shares through new share issuance. Simultaneously, the board of directors of Century Wind Energy decided to amend the company's articles of incorporation and change the company name to 'Century Energy Equipment Co., Ltd.', declaring a transformation from a single offshore wind energy to comprehensive energy development.

This share conversion plan will be implemented by Century Wind Energy issuing new shares as consideration, with an exchange ratio of 0.22 ordinary shares of Century Wind Energy for 1 ordinary share of Century Hsinxin. Century Wind Energy plans to issue a total of 44,000 thousand new shares, accounting for approximately 18.64% of the total issued shares. Both parties plan to hold an extraordinary general meeting of shareholders on August 12, 2024, to discuss this share conversion plan and the company name change plan. After the shareholders' meetings of both parties pass the resolution and obtain the approval of the relevant authorities, the tentative share conversion base date is set as December 31, 2024. After the share conversion is completed, Century Hsinxin will become a wholly-owned subsidiary of the company, and according to relevant laws and regulations of the OTC market, the listing will be terminated and public issuance will be suspended on the share conversion base date.

Century Wind Energy is the core manufacturer and delivery platform for offshore wind power substructures, with a large heavy-duty wharf in Taipei Port and a self-developed heavy lifting equipment called 'Century Sky Tower'. Century Hsinxin specializes in the manufacture of key underwater foundation components, base piles, and wind turbine towers, based in Taichung Port. This upstream and downstream integration will fully leverage the dual-base advantages of Taipei Port and Taichung Port, aiming to improve the acquisition and execution efficiency of future offshore wind projects. The goal is to enhance international competitiveness and lay a solid foundation for entering the Asia-Pacific market.

Focusing on the enormous power demand driven by the booming development of AI infrastructure, Century Wind Energy's future business positioning will not be limited to offshore wind energy. The company plans to change its name to 'Century Energy Equipment Co., Ltd.'. The company will leverage its expertise in heavy-duty steel structures for maritime use and the advantages of deep-water wharves, combined with its core precision welding technology, to gradually extend its business reach into diverse energy equipment sectors, aiming to become a leading comprehensive energy equipment supplier in the Asia-Pacific region.

Looking ahead, in response to the opportunity of energy transformation driven by the AI wave, Century Wind Energy will actively lay out three growth engines: First, deepening the Taiwan market: Leveraging the production capacity and vertical integration advantages after integration, aiming to gain more order shares in the Taiwan offshore wind energy supply chain. Second, expanding overseas business opportunities: Continuously improving operational efficiency and international competitiveness, targeting offshore wind energy opportunities in the Asia-Pacific region. Third, laying out comprehensive energy: Starting from existing core advantages, aiming at diverse energy infrastructure opportunities, targeting to transform into a global leading 'comprehensive energy equipment manufacturer' by 2035.