1.Date of disciplinary action: November 13, 2020

2.Object of disciplinary action: XX Chen as the person responsible for the act of Triocean Textile Co., Ltd. (listed company, stock code 1472).

3.Legal basis for the disciplinary action: Article 36-1 of the Securities and Exchange Act and Article 10 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.

4.Fact of law violation: On May 8, 2019, the board meeting of Triocean Textile Co., Ltd. approved a capital injection to Shanghai Lifestyle Furniture Co., Ltd. of RMB 24,000 thousand, which was equivalent to 20% of its paid-in capital; however, the fairness opinion of the transaction price by a public accountant was not sought before the date of the occurrence of the fact. This is verified to be a breach of the provisions of Article 10 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.

5.Disciplinary action imposed: A fine of NT$240,000 is imposed on the person responsible for the act of the company in accordance with sub-paragraph 11, paragraph 1, Article 178 and paragraph 1, Article 179 of the Securities and Exchange.

 

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