Interim Results for Six Months Ended 30 June 2026

Gowin New Energy Group Limited  

("GNE" or the "Group")

(AQSE: GWIN)

Interim Results for the Six Months Ended 30 June 2026

London: Tuesday, 29^th September 2026: Gowin New Energy Group Limited, engaged in the sale and investment of LED related products, tea trading and agarwood trading businesses, today announces its unaudited financial results for the six months ended 30 June 2026.

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

The directors of Gowin New Energy Group Limited accept responsibility for this announcement.

For further information please visit company's website at www.gowingrp.com or contact the following:

Gowin New Energy Group Limited 

Garry Willinge

Tel: +852 9100 9972

AlbR Capital Limited

Aquis Corporate Adviser

David Coffman / Daniel Harris

Tel: +44 (0)20 7469 0930

2026 Interim Report Chairman's Statement

Gowin New Energy Group Limited (the "Group" or "Gowin") is pleased to present its 2026 Interim Report for the six months ended 30 June 2026 (the "Period" or "H1 2026").

The Group's principal new energy holding remains its minority investment in Taiwan-based Taiwan Thick-Film Industries Corp ("TTFI"), listed on the Taipei Exchange (TPEx). TTFI manufactures and supplies LED backlight modules and components, with its main production base in mainland China.. Its customers supply backlight modules to Chinese mainland automobile factories and electric vehicle assembly plants. TTFI reported revenues of NT$3.4million for the six months ended 30 June 2026. As previously disclosed, and consistent with prior periods, the Board continues to monitor this investment closely but has no current plans for further investment or development within the LED sector, given the ongoing structural challenges facing the industry.

Turning to the Group's tea business, our engagement with the Pu'er Tea Association ("the PTA") in Taiwan has continued during the Period as we work towards a more substantive and sustainable partnership framework. Gowin has established cooperative partnerships with the PTA and several Taiwanese tea manufacturers. Currently, the tea products are being distributed through petrol station sales channels and are sourced from Taiwan. Trading activity with Ruilong Gas Station ("Ruilong") - in which Mr. Chen Chih-Lung, a substantial shareholder of Gowin and former director, holds a 40% interest - together with our continuing relationship with Junlin Tea Company, remained at a modest level during the Period. In the first half of 2026, the Group completed a small tea product transaction with Ruilong Petrol Station. The Board remains committed to building a more robust and diversified foundation for this part of the Group's business over time.

The Group's review of its agarwood product initiatives has continued throughout the Period, with the Board continuing to seek credible international partners and viable routes to market for any future commitment in this area.

Significant Event After the Reporting Period

On 15 July 2026, the Group announced the launch of a real world asset ("RWA") tokenisation project for premium tea assets, a digital marketing and distribution initiative intended to capitalise on the Group's existing tea operations first launched in 2018. Under the proposed structure, tea will be purchased by a wholly owned Taiwanese subsidiary and held in a Taiwan warehouse under a trust arrangement governed by Taiwan's Trust Act, with token holders as beneficiaries. Following purchase, the tea will be tokenised for distribution to investors by Bitfinex Securities El Salvador SA de CV, an unconnected third party and licensed Digital Asset Service Provider, with an initial pilot issuance capped at a maximum of US$2.5 million and a minimum operational threshold of US$1.0 million.

The Company is in advanced discussions with TTFI to provide warehouse and blockchain infrastructure services for the project. The Board is hopeful that, if the necessary approvals and agreements are concluded and executed to plan, this project will in due course deliver a meaningful new revenue stream for the tea business, while recognising that it remains at an early stage and is subject to a number of conditions.

Strategic Outlook and Capital Management

As in previous periods, the Board continues to dedicate time and resources to evaluating new business growth opportunities that could be effectively integrated into the Group and would leverage its status as a UK-listed company. The Board's primary focus remains unchanged: to establish sustainable cash flows and a clear path to profitability for the Group, while continuing to assess options to reduce debt and restructure the balance sheet.

We remain mindful of the headwinds presented by the turbulent global geopolitical and trade environment but are encouraged by the ongoing support of our stakeholders and the new business introductions that continue to come to us, including the tea tokenisation initiative described above. The Group will, as always, update the market promptly and in accordance with its continuing disclosure obligations as and when there are material developments to report.

The commitment of our leadership team and key stakeholders to the Group's stability remains steadfast. Mr. Chen Chih-Lung, a substantial shareholder of Gowin, continued to provide short-term funding to support the Group's working capital requirements during the six months to 30 June 2026, underlining his ongoing commitment to the Group.

On behalf of the Board, I would like to thank our shareholders and lenders for their continued support, and all members of staff for their dedication and contribution to the Group throughout the first half of the year.

Garry Willinge

Non-Executive Chairman

Date: 29 September 2026

INDEPENDENT AUDITOR'S REVIEW REPORT TO GOWIN NEW ENERGY GROUP LIMITED

Conclusion

We have been engaged by the Group to review the condensed set of financial statements in the half-yearly financial report for the six months ended 30 June 2026 which comprise the Condensed Consolidated Statement of Comprehensive Income, the Condensed Consolidated Statement of Financial Position, the Condensed Consolidated Statement of Changes in Equity, the Condensed Consolidated Statement of Cash Flows and related notes. We have read the other information contained in the half-yearly financial report and considered whether it contains any apparent misstatements or material inconsistencies with the information in the condensed set of financial statements.

Based on our review, nothing has come to our attention that causes us to believe that the accompanying set of condensed financial statements in the half-yearly financial report for the six months ended 30 June 2026 is not prepared, in all material respects, in accordance with International Accounting Standard 34 and the AQSE Rules for Issuers.

Basis of Conclusion

We conducted our review in accordance with International Standard on Review Engagements 2410(UK), "Review of Interim financial Information Performed by the Independent Auditor of the Entity". A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures.  A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing, and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit.  Accordingly, we do not express an audit opinion.

As disclosed in note 2, the condensed set of financial statements included in this half-yearly financial report has been prepared in accordance with International Accounting Standard 34, "Interim Financial Reporting".

Material Uncertainty Related to Going Concern

We draw attention to note 3 in the condensed set of financial statements of the half-yearly report, which identifies conditions that may cast material uncertainty to the Group's ability to continue as a going concern. The Group reported a net profit after tax of RMB 568,000 for the six months ended 30 June 2026 and has net current liabilities as at 30 June 2026 of RMB 40,852,000. The Group's financial projection carries uncertainty as to its revenue, profit and cashflows in the 12 months from the date of the approval of this interim financial information.

The Group's financial statements have been prepared on the going concern basis. The ability of the Group to meet its expenditure requirements is dependent on its ability to raise additional funds and the continued financial support from directors and shareholders regarding non-repayment of existing liabilities. As stated in note 3, these events or conditions, along with the other matters as set forth in note 3, indicate that a material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern. Our conclusion is not modified in respect of this matter.

Based on our review procedures, which are less extensive than those performed in an audit as described in the Basis for conclusion section of this report, nothing has come to our attention to suggest that management have inappropriately adopted the going concern basis of accounting.

Responsibilities of directors

The directors are responsible for preparing the half-yearly financial report in accordance with International Accounting Standard 34 and the AQSE Rules for Issuers.

In preparing the half-yearly financial report, the directors are responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the review of the financial information

In reviewing the half-yearly financial report, we are responsible for expressing to the Group a conclusion on the condensed set of financial statements in the half-yearly financial report. Our conclusion, including those within the Material uncertainty related to going concern paragraph, are based on procedures that are less extensive than audit procedures, as described in the Basis for Conclusion paragraph of this report.

Use of our report

This report is made solely to the company's directors, as a body, in accordance with the terms of our engagement letter dated 2 September 2026. Our review has been undertaken so that we might state to the company's directors those matters we have agreed to state to them in a reviewer's report and for no other purpose.  To the fullest extent permitted by law, we do not accept or assume responsibility to anyone, other than the company and the company's directors as a body, for our work, for this report, or for the conclusions we have formed.

PKF Littlejohn LLP                                                                                                       30 Churchill Place

Statutory Auditor                                                                                                                         London

                                                                                                                                                      E14 5RE

 29 September 2026

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Gowin New Energy Group Limited

Condensed consolidated statement of comprehensive income

For the six months ended 30 June 2026

Gowin New Energy Group Limited

Condensed consolidated statement of financial position

As at 30 June 2026

Gowin New Energy Group Limited

Condensed consolidated statement of changes in equity

For the six months ended 30 June 2026

Gowin New Energy Group Limited

Condensed consolidated statement of cash flows

For the six months ended 30 June 2026

Non-cash transactions:

The fair value gain on financial assets was RMB 506,000 (six months ended 30 June 2025: fair value loss on financial assets: RMB 472,000)

During the period, finance costs of RMB 231,000 (six months ended 30 June 2025: RMB 226,000) incurred was credited to loans from equity holders.

Gowin New Energy Group Limited

Notes to the condensed consolidated financial statements

For the six months ended 30 June 2026

1.       General information

Gowin New Energy Group Limited ("the Company") was incorporated in the Cayman Islands. The registered office of the Company is located at Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman, KY1-1111, Cayman Islands and the main business office is located at 4F., No. 5, Ln. 332, Siyuan Rd., Xinzhuang Dist., New Taipei City, Taiwan (R.O.C.).

The principal activity of Gowin New Energy Group Limited and its subsidiaries ("the Group'') has historically been research and development and sales of LED lighting products. During the period, the Group was engaged in the trading of tea. The Group will continue to invest in businesses in related or different fields.

During the period the shareholder , Mr. Chen Chih-Lung and certain shareholders have supported the Group financially by way of loans and guarantees.

The Company's shares are listed on the AQUIS Stock Exchange (AQSE) Growth Market.

The condensed interim consolidated financial statements are presented in Renminbi ("RMB"), which is the presentational and functional currency of the Group, and all values are rounded to the nearest thousand except where indicated otherwise.

2.       Basis of Preparation

The non-statutory condensed interim consolidated financial statements have been prepared in accordance with the valuation and measurement principles under International Accounting Standard 34.

The condensed interim consolidated financial statements have been prepared under the historical cost convention, except for equity investments held at fair value through profit or loss.

The preparation of the condensed interim consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires Management to exercise its judgement in the process of applying the Group's accounting policies.  The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the condensed interim consolidated financial statements, are disclosed in Note 5.

-New/revised IFRSs adopted by the Group

The adoption of these new/revised IFRSs did not result in material changes to the Group's accounting policies and/or amounts reported for the current and prior periods.

3.       Going Concern

The non-statutory condensed interim consolidated financial statements have been prepared on a going concern basis.

The Group reported a net profit after tax of RMB 568,000 for the six months ended 30 June 2026 (six months ended 30 June 2025: loss of RMB 3,256,000) and has net current liabilities as at 30 June 2026 of RMB 40,852,000. Management's assessment of the ability of the Group to continue as a going concern has considered cashflow forecasts, including assumptions regarding the Group's activities, funds raising from existing shareholders and the open market, and the Group's ability to settle liabilities as and when they fall due.

Mr. Chen Chih-Lung, the shareholder of the Group, has recommitted his personal financial support to provide loans for business operations as and when required for a period of no less than 12 months from the date of the approval of the condensed interim consolidated financial statements.

Management has also taken certain measures including negotiation with certain directors and equity holders to obtain their undertaking not to demand repayment of amounts owed to them until there are sufficient funds available for repayments and securing new funding from existing shareholders and/or new investors.

Based on the above, the Group will be required to rely on the financial supports from the equity holders and the directors. The directors consider there are reasonable grounds to believe that the Group will be able to fund the Group's future operating expenses, yet the directors also consider that there are no obligations for the directors to provide their financial support to the Group. It is therefore assessed by the directors that there is a material uncertainty over the going concern.  Should the Group not be able to continue as going concern, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for further liabilities which might arise and to re-classify non-currents assets and liabilities as current. These non-statutory condensed interim consolidated financial statements do not include any adjustments that may be required should the Group be unable to continue as a going concern.

4.       Risks and uncertainties

The activities planned for the Group would post new challenges, risks and uncertainties. The Board is actively reviewing the impact of its plans but does not immediately see any variations in the key financial risks other than the valuation of investments.

5.       Critical accounting estimates and judgements

The preparation of these condensed consolidated interim financial statements requires Management to make estimates and assumptions which would affect the reported amounts of assets and liabilities and/or disclosure of contingent assets and liabilities at the end of the reporting period. Significant items subject to such estimates are set out in Note 5 of the Group's 2025 Annual Financial Statements. The nature in respect of such estimates has not changed significantly during the interim period.

6.       Significant accounting policies

The condensed interim consolidated financial statements have been prepared under the historical cost convention as modified by the valuation of financial assets at fair value through profit or loss.

The accounting policies and methods of computation used in the preparation of these condensed interim consolidated financial statements are consistent with those used in the Group's 2025 Annual Financial Statements, except as described below and as required for the preparation of the condensed interim consolidated financial statements:

Electronic equipment

Electronic equipment are stated at cost less accumulated depreciation and impairment. Cost includes the original purchase price and any costs directly attributable to bringing the asset to its working condition for its intended use, including delivery and installation costs, together with dismantling and restoration costs.

Depreciation is calculated on the straight-line basis to write off the cost of each item of property, plant and equipment to its residual value over its estimated useful lives. The estimated useful lives applied to the class of asset held by the Company are as follows:

7.       Segment information

The business of the Group is primarily focused on the sales of goods (i.e. sales of tea and/or LED lighting products) for the current and prior period. All of the Group's income is primarily derived from Taiwan. For the purpose of IFRS 8, the chief operating decision makers are the Group's executive directors. Internal and external reporting is on a consolidated basis, with transactions between Group companies eliminated on consolidation. Therefore, the CODM considers the financial information of the single segment is the same as that set out in the condensed consolidated statement of comprehensive income, the condensed consolidated statement of financial position, the condensed consolidated statement of changes in equity and the condensed consolidated statement of cash flows.

8.       Financial assets

All financial assets are recognised and de-recognised on a trade date basis where the purchase or sale of an investment is under a contract whose terms require delivery of the investment within the timeframe established by the market concerned, and are initially measured at fair value plus transaction costs, except for those financial assets classified as at fair value through profit or loss which are initially measured at fair value.

Investments classified as fair value through profit or loss are measured at fair value at each reporting date. Changes in fair value, including any realised gains or losses on disposal, are recognised in profit or loss in the period in which they arise.  

No provision for Taiwan profits tax has been made as the Group did not generate any assessable profits arising in Taiwan.

12.     Profit/(Loss) per share

Profit per share for the six months ended 30 June 2026 is calculated by dividing profit of RMB 568,000 (six months ended 30 June 2025: Loss of RMB 3,256,000) for the period attributable to the equity holders of the Company by the average number of shares, of 290,000,533.

There were no potential dilutive ordinary shares outstanding during the six months ended 30 June 2026 and 2025.

13.     Dividend

No dividends were proposed/paid during the reporting period (six months ended 30 June 2025: Nil) and the Directors do not recommend interim dividends during the six months ended 30 June 2026 (six months ended 30 June 2025: Nil).

14.     Investments at fair value through profit or loss

As at 30 June 2026 and 31 December 2025, the Company holds 1,103,232 shares in TAIWAN THICK-FILM INDUSTRIES CORP. ("TTFI"), a company listed on Taipei Stock Exchange.

15.       Electronic equipment

The amount due from related party is unsecured, interest free and has no fixed repayment term. The related party is controlled by a shareholder of the Group.

The amount due to key management personnel is unsecured, interest free and has no fixed repayment term.

The loans from equity holders are unsecured with 2% p.a. interest charge. All equity holders have confirmed their undertakings not to demand repayment of amounts owed to them until there are funds available for repayment.

19.     Share capital

20.     Related party transactions

The ultimate controlling party of the Group is Mr. Chen Chih-Lung.

Refer to Note 18 for the remuneration due to the key management personnel.

Mr. Chen Chih-Lung

Mr. Chien Chih-Peng

Fonyu

瑞龍加油站股份有限公司

Ruilong Gas Station Co., Ltd.*

*The English names of the company represent the best effort made by the directors of the Company to translate the Chinese names as the company have not been registered with any official English names

21.     Events occurring after the reporting date

On 3 July 2026, the Group announced that it had entered into a loan agreement with Mr. Chen Chih-Lung, the shareholder. The amount of the loan is GBP 27,000 and is used to fund operations and working capital.

On 15 July 2026, the Group announced the launch of a real world asset ("RWA") tokenisation project for premium tea assets

On 27 August 2026, the Group announced that it had entered into a loan agreement with Mr. Chen Chih-Lung, the shareholder. The amount of the loan is GBP 23,000 and is used to fund operations and working capital.

On 4 September 2026, the Group announced that it had entered into a loan agreement with Mr. Chen Chih-Lung, the shareholder. The amount of the loan is NTD 200,000 and is used to fund operations and working capital.

22.     Approval of interim financial information

The condensed consolidated interim financial statements are approved by the Board of Directors on 29 September 2026.