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Sunfun Info Co. (5278): Increase of Subsidiary by NT$1 Billion and Initiation of 10-for-1 Stock Split Plan
TAIPEI, TAIWAN - Media OutReach Newswire - 14 June 2024 - Sunfun Info Co. (Stock Code: 5278) announced on the 7th that its board of directors has resolved to initiate a significant plan mirroring global AI technology leader Nvidia (NASDAQ: NVDA) by implementing a 10-for-1 stock split. The original face value per share is NT$10, with a total of 22,248,586 issued shares. After the split, the face value per share will be NT$1, with a total of 222,485,860 shares issued.

Sunfun's CEO, Calvin Chia-Ming Chang, stated, 'Inspired by Nvidia's founder, Jensen Huang, Sunfun aims to increase stock liquidity and trading volume through this 10-for-1 stock split.' Additionally, the board recently approved and completed a capital increase plan for its subsidiary, Daiken Biomedical, amounting to NT$1 billion, which is intended to bolster Daiken's operating capital. Daiken Biomedical also plans to expand into overseas markets, such as Australia and Japan, to scale up operations. Daiken Biomedical initiated a public offering plan earlier this year, with KGI Securities as the lead underwriter, aiming for a public offering and listing on the Emerging Stock Market by the end of this year. It is estimated that Sunfun will still hold over 90% of Daiken Biomedical's shares at the time of listing.

Simultaneously, Chairman Chang also announced a partnership with WiAdvance Technology, an innovative cloud service provider under Wistron Corporation, to jointly develop diversified AI innovative services and further penetrate AI market applications. This collaboration will leverage the technological strengths of both parties, aiming to deliver more innovative and efficient AI solutions to the market.

In terms of business expansion, Sunfun's product, 'Mayfun' (www.mayfunapp.com), has attracted over 14,000 buyers and real estate agents. The company is also actively investing in and expanding into the overseas real estate market, currently negotiating with international developers in Japan and Australia. Key target cities include Tokyo and Kumamoto in Japan, as well as Brisbane and the Gold Coast in Australia. Meanwhile, Sunfun's environmentally-focused project 'KOFO', dedicated to achieving global net-zero carbon emissions by 2050, has successfully planted over 89,716 trees worldwide, demonstrating the company's strong commitment to corporate social responsibility and environmental protection.

Sunfun International continues to drive steady growth by expanding into international markets, developing AI automation applications, and focusing on green energy and technological innovation. These initiatives aim to create greater value for its shareholders and society.
Hashtag: #Sunfun #StockSplit #AI #DaikenBiomedical #MayfunApp

The issuer is solely responsible for the content of this announcement.

Sunfun Info Co., Ltd.

Founded in 2002, Sunfun Info Co., Ltd. mainly develops online dating services, including the iPair Live Dating App, the iPair dating site, the SweetRing Wedding Dating App, weTouch Fashion Dating, and many others. Sunfun Info Co., Ltd. was listed on the over-the-counter market in 2013. Currently, its product market spans Taiwan, Hong Kong, the U.S., Mexico, Singapore, Malaysia, Thailand, Indonesia, and other countries. The market for Sunfun Info Co., Ltd.'s products continues to grow steadily. In 2018, adhering to their commitment to the health of themselves and their families, they founded Daiken Bio. The company focuses on researching and developing safe, secure, and effective health food products that are renowned for their high quality. In 2022, Daiken Bio. received seven international gold awards from the World Quality Assessment.

Sunfun Info Co., Ltd.

Posted by : Media Outreach, Jenny
Posted on : Friday, June 14, 2024  11:00:00 AM UAE local time (GMT+4)
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