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2021-09-24
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The Announcement of the Company's BOD's resolution of its subsidiary's capital increase by cash into another subsidiary, Jiu Xin Estate (Wuxi) Limited
Subject： The Announcement of the Company's BOD's resolution of its subsidiary's capital increase by cash into another subsidiary, Jiu Xin Estate (Wuxi) Limited
To which item it meets： paragraph 20
Date of events：2021/09/24
1.Name and nature of the underlying assets (if preferred shares, the terms and conditions of issuance shall also be indicated, e.g., dividend yield, etc.):Sinyi Real Estate (Shanghai) Ltd. will obtain common shares newly issued by increase capital of Jiu Xin Estate (Wuxi) Limited.
2.Date of occurrence of the event:2021/09/24
3.Amount, unit price, and total monetary amount of the transaction:
Amount: 25.14% of shares
Unit price:Not applicable
Total monetary amount: RMB 450,000 thousand
4.Trading counterparty and its relationship with the Company (if the trading counterparty is a natural person and furthermore is not a related party of the Company, the name of the trading counterparty is not required to be
disclosed):
Counterpart: Jiu Xin Estate (Wuxi) Limited
relationship to the Company: Both of them are the Company's 100% owned subsidiaries.
5.Where the trading counterparty is a related party, announcement shall also be made of the reason for choosing the related party as trading counterparty and the identity of the previous owner, its relationship with the Company
and the trading counterparty, and the previous date and monetary amount of transfer: The Company's subsidiary's capital increase plan by cash.
6.Where an owner of the underlying assets within the past five years has been a related party of the Company, the announcement shall also include the date and price of acquisition and disposal by the related party, and its
relationship with the Company at the time of the transaction: Not applicable
7.Matters related to the current disposal of creditors' rights (including types of collaterals of the disposed creditor’s rights; if creditor's rights over a related party, announcement shall be made of the name of the related party and the book amount of the creditor's rights, currently being disposed of, over such related party): Not applicable
8.Profit or loss from the disposal (not applicable in cases of acquisition of securities) (those with deferral should provide a table explaining recognition): Not applicable
9.Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important terms and conditions: Cash according to capital increase plan.
restrictive covenants in the contract: none
other important stipulations: none
10.The manner of deciding on this transaction (such as invitation to tender, price comparison, or price negotiation), the reference basis for the decision on price, and the decision-making unit: The manner in which the current transaction was decided: Referring to capital increase plan by cash.
The reference basis for the decision on price: Referring to capital increase plan by cash.
The decision-making department: The board of directors of the Company.
11.Net worth per share of the Company's underlying securities acquired or disposed of: Not applicable
12.Cumulative no.of shares held (including the current transaction), their monetary amount, shareholding percentage, and status of any restriction of rights (e.g., pledges), as of the present moment:
a.Sinyi Real Estate(Shanghai) Ltd.
cumulative no.of shares held and monetary amount: USD 69,500 thousand
(approximately RMB 450,000 thousand or NT$ 1,935,000 thousand)
shareholding percentage: 25.14%
status of any restriction of rights: none
b.Sinyi Estate (Hong Kong) Limited
cumulative no.of shares held and monetary amount: USD 207,000 thousand
(approximately RMB 1,361,056 thousand or NT$ 5,758,947 thousand)
shareholding percentage: 74.86%
status of any restriction of rights: none
13.Current ratio of securities investment (including the current trade, as listed in article 3 of Regulations Governing the Acquisition and Disposal of Assets by Public Companies) to the total assets and equity attributable to owners of the parent as shown in the most recent financial statement and working capital as shown in the most recent financial statement as of the present:
Current ratio of securities investment to the total assets:18.64%
Current ratio of securities investment to the equity attributable to owners of the parent: 45.54%
Working capital:-NTD 3,353,373 thounsand
Reasons why the working capital is negtive, we still increase capital by cash: Sinyi Real Estate(Shanghai) Co., Ltd.'s capital increase is to participate in future real estate auction to acquire lands to propel the need of real estate development.
14.Broker and broker's fee: Not applicable
15.Concrete purpose or use of the acquisition or disposal: To support the demand of Jiu Xin Estate (Wuxi) Limited's operation.
16.Any dissenting opinions of directors to the present transaction:none
17.Whether the counterparty of the current transaction is a related party: Yes
18.Date of the board of directors resolution:2021/09/24
19.Date of ratification by supervisors or approval by the Audit Committee:2021/09/24
20.Whether the CPA issued an unreasonable opinion regarding the current transaction: Not applicable
21.Name of the CPA firm: Not applicable
22.Name of the CPA: Not applicable
23.Practice certificate number of the CPA: Not applicable
24.Whether the transaction involved in change of business model: No
25.Details on change of business model: Not applicable
26.Details on transactions with the counterparty for the past year and the expected coming year: Not applicable
27.Source of funds: Working capital of Sinyi Real Estate(Shanghai) Ltd.
28.Any other matters that need to be specified:
Working capital of Sinyi Real Estate(Shanghai) Ltd is used to support the participation in future real estate auction to acquire lands to propel the need of real estate development.
To which item it meets： paragraph 20
Date of events：2021/09/24
1.Name and nature of the underlying assets (if preferred shares, the terms and conditions of issuance shall also be indicated, e.g., dividend yield, etc.):Sinyi Real Estate (Shanghai) Ltd. will obtain common shares newly issued by increase capital of Jiu Xin Estate (Wuxi) Limited.
2.Date of occurrence of the event:2021/09/24
3.Amount, unit price, and total monetary amount of the transaction:
Amount: 25.14% of shares
Unit price:Not applicable
Total monetary amount: RMB 450,000 thousand
4.Trading counterparty and its relationship with the Company (if the trading counterparty is a natural person and furthermore is not a related party of the Company, the name of the trading counterparty is not required to be
disclosed):
Counterpart: Jiu Xin Estate (Wuxi) Limited
relationship to the Company: Both of them are the Company's 100% owned subsidiaries.
5.Where the trading counterparty is a related party, announcement shall also be made of the reason for choosing the related party as trading counterparty and the identity of the previous owner, its relationship with the Company
and the trading counterparty, and the previous date and monetary amount of transfer: The Company's subsidiary's capital increase plan by cash.
6.Where an owner of the underlying assets within the past five years has been a related party of the Company, the announcement shall also include the date and price of acquisition and disposal by the related party, and its
relationship with the Company at the time of the transaction: Not applicable
7.Matters related to the current disposal of creditors' rights (including types of collaterals of the disposed creditor’s rights; if creditor's rights over a related party, announcement shall be made of the name of the related party and the book amount of the creditor's rights, currently being disposed of, over such related party): Not applicable
8.Profit or loss from the disposal (not applicable in cases of acquisition of securities) (those with deferral should provide a table explaining recognition): Not applicable
9.Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important terms and conditions: Cash according to capital increase plan.
restrictive covenants in the contract: none
other important stipulations: none
10.The manner of deciding on this transaction (such as invitation to tender, price comparison, or price negotiation), the reference basis for the decision on price, and the decision-making unit: The manner in which the current transaction was decided: Referring to capital increase plan by cash.
The reference basis for the decision on price: Referring to capital increase plan by cash.
The decision-making department: The board of directors of the Company.
11.Net worth per share of the Company's underlying securities acquired or disposed of: Not applicable
12.Cumulative no.of shares held (including the current transaction), their monetary amount, shareholding percentage, and status of any restriction of rights (e.g., pledges), as of the present moment:
a.Sinyi Real Estate(Shanghai) Ltd.
cumulative no.of shares held and monetary amount: USD 69,500 thousand
(approximately RMB 450,000 thousand or NT$ 1,935,000 thousand)
shareholding percentage: 25.14%
status of any restriction of rights: none
b.Sinyi Estate (Hong Kong) Limited
cumulative no.of shares held and monetary amount: USD 207,000 thousand
(approximately RMB 1,361,056 thousand or NT$ 5,758,947 thousand)
shareholding percentage: 74.86%
status of any restriction of rights: none
13.Current ratio of securities investment (including the current trade, as listed in article 3 of Regulations Governing the Acquisition and Disposal of Assets by Public Companies) to the total assets and equity attributable to owners of the parent as shown in the most recent financial statement and working capital as shown in the most recent financial statement as of the present:
Current ratio of securities investment to the total assets:18.64%
Current ratio of securities investment to the equity attributable to owners of the parent: 45.54%
Working capital:-NTD 3,353,373 thounsand
Reasons why the working capital is negtive, we still increase capital by cash: Sinyi Real Estate(Shanghai) Co., Ltd.'s capital increase is to participate in future real estate auction to acquire lands to propel the need of real estate development.
14.Broker and broker's fee: Not applicable
15.Concrete purpose or use of the acquisition or disposal: To support the demand of Jiu Xin Estate (Wuxi) Limited's operation.
16.Any dissenting opinions of directors to the present transaction:none
17.Whether the counterparty of the current transaction is a related party: Yes
18.Date of the board of directors resolution:2021/09/24
19.Date of ratification by supervisors or approval by the Audit Committee:2021/09/24
20.Whether the CPA issued an unreasonable opinion regarding the current transaction: Not applicable
21.Name of the CPA firm: Not applicable
22.Name of the CPA: Not applicable
23.Practice certificate number of the CPA: Not applicable
24.Whether the transaction involved in change of business model: No
25.Details on change of business model: Not applicable
26.Details on transactions with the counterparty for the past year and the expected coming year: Not applicable
27.Source of funds: Working capital of Sinyi Real Estate(Shanghai) Ltd.
28.Any other matters that need to be specified:
Working capital of Sinyi Real Estate(Shanghai) Ltd is used to support the participation in future real estate auction to acquire lands to propel the need of real estate development.