Taiwan Tyre Plans to Invest NT$250 Million in Nankang Tyre Shares to Generate Non-Operating Income

According to CNA reporter Pan Zhiyi in Taipei on the 13th, Lv Xinyi, spokesperson for Taiwan Tyre, announced today that the company plans to invest idle funds effectively to generate non-operating income and increase corporate profits. The investment will be in common shares of its affiliate, Nankang Tyre, executed through large-volume, in-market block trades priced within 10% of the previous day's closing price. The planned transaction amount is NT$250 million, bringing the year-to-date cumulative investment in Nankang Tyre to NT$300 million.

Speaking at a video press conference hosted by the Taiwan Stock Exchange, Lv Xinyi stated that the company is optimistic about Nankang Tyre's stable core business and the profitability generated from its real estate project 'World Pearl,' which will benefit Nankang Tyre. This investment is expected to positively contribute to Taiwan Tyre's earnings.

Lv noted that Nankang Tyre holds approximately 31.43% of Taiwan Tyre's shares, while Taiwan Tyre holds less than 2% of Nankang Tyre's shares.