Business
Final Results
Final Results.
About this update from Gowin New Energy Group Ltd.
[{"type":"text","content":"\n\nGowin New Energy Group Limited\n(\"Gowin\" or the \"Company\")\nAudited Annual Results for the year ended 31 December 2024\nGowin New Energy Group Limited is delighted to report its audited annual results for the twelve months ended 31 December 2024.\nChairman's Statement\n \nGowin New Energy Group Limited (the \"Group\" or \"Gowin\") is pleased to release its 2024 Annual Report, for the twelve months to 31 December 2024.\nThe Group is a minority investor in Taiwan-based company, Taiwan Thick-Film Industries Corp (TTFI), listed on the Taipei Exchange (TPEx), which is principally engaged in the manufacture and sales of LED backlight modules and components distributed primarily in the Asia market.\nTTFI's main production base is in mainland China, where it owns two investment companies there. Its customers supply the backlight modules to Chinese mainland automobile factories and electric vehicle assembly plants, with annual revenues of more than NT$1.6 billion in 2023.\nDuring the year, the Group also bought and sold a small number of LED lamps, through its Gowin Taiwan Branch. These were purchased from its long-term supplier \"Huayu Engineering Company\" and from Auric Technology Energy Co. Ltd.\nAs previously disclosed, given the decline of the LED industry, the Group has no other plans for LED business development or investment currently.\nIn relation to the tea business, Gowin had commenced cooperation with the Pu'er Tea Association (\"the PTA\") in Taiwan, but as previously explained, several factors, including the Covid-19 pandemic, led to declining sales and trading opportunities. With the situation now improving, discussions are proceeding as to how to reinvigorate the partnership with the PTA.\nThere were two commodity tea trade transactions in the first half of 2024 and one in the second half of 2024, all with Ruilong Gas Station (\"Ruilong\"), involving the purchase and sale of Taiwanese high mountain tea. Gowin's CEO, Mr. Chen Chih-Lung, holds a 40% interest in Ruilong. Gowin has a long-standing agreement with the manufacturer \"Junlin Tea Company\" to cooperate with the Group.\nRegarding its agarwood product initiatives, the Group is currently reviewing potential new partnerships and strategies for international sales development.\nAs for new business development, the Group is actively exploring new opportuni...