Xiang Yao Industry Corporation Decides to Sell Tainan Factory Land and Buildings through Public Auction

Release Date: 1150707 Announcement Date: 1150706 Announcement Time: 16:26:14 Company Code: 2438 Company Name: Xiang Yao Subject: Announcement of Important Board of Directors' Resolution Applicable Clause: Clause 51 Date of Fact: 1150706 Explanation: 1. Date of Fact: 115/07/06 2. Company Name: Xiang Yao Industry Corporation 3. Company Relationship (Please enter the parent company or subsidiary): Parent Company 4. Cross-Holding Ratio: Not Applicable 5. Reason for Occurrence: The parent company held a board of directors meeting on July 6, 2015, and decided to sell the land and buildings of the Tainan factory owned by its important subsidiary, Jinyun Technology Corporation, through a public auction. 6. Response Measures: This case will be handled by Jinyun Technology Corporation in accordance with the Company Act, asset acquisition or disposal procedures, and relevant legal regulations. It will be submitted to its shareholders' meeting for approval and will handle the subsequent public auction and related announcement and reporting matters. 7. Other Matters to be Stated (If the subject of the event or resolution is a company with public issuance above, this major information also meets the items that have a significant impact on shareholders' rights or securities prices as stipulated in Article 7, Paragraph 9 of the Securities Exchange Act Enforcement Rules): The reserve price for this case is tentatively set at NT$820,000,000. The actual transaction counterparty, transaction price, transaction conditions, and financial impact shall be determined based on the subsequent public auction results, actual transaction conditions, and the results of the accountant's review or audit.