United Renewable Energy (“URE”, or “the Company”, 3576 TT), announced February 2020 revenue of NT$1,1 billion, a significant growth of 58% MoM. The increase is due to strong growth in module shipment for large project, and fewer working days in January because of the Chinese New Year. As supply chain resume production, impact from COVID-19 gradually lessen, supplies of material slowly recover, and it is expected to return to normal in second quarter 2020.

The major user of electricity articles in Renewable Energy Development Act is expected to come into effect half way through 2020, URE is assisting our customers in planning and construction of solar projects and energy storage system, in order for corporations to be socially responsible. At same time achieved government’s short term goal of cumulative installed capacity of 6.5GW in 2020, and long term goal of cumulative installed capacity of 20GW in 2025.