Mr. Michael Chang and five other executives received an acquittal for insider trading case at second instance by Taiwan High Court

  1. Parties to the legal matter: Michael Chang (Chairman); Youe-Kong Shue (Former Vice Chairman); Amy Hung (Former General Manager); Tony Yu (Former Chief Science Officer); Jon-Jin Liao (Former Medical Business Director)
  2. Name of the court or disposing agency: Taiwan High Court
  3. Reference/case numbers of relevant documents: Year 108, Jin Zhong Su No.38
  4. Date of occurrence of the event: Jan 26, 2021
  5. Background and circumstances of the matter (including the property/subject matter under dispute): Mr. Michael Chang and five other executives were charged with insider trading, which against the Securities and Exchange Act, by Taiwan Shilin District Court. On Jun 21, 2019, Taiwan Shilin District Court announced no guilty at the first instance, but prosecutor appealed against the acquittal. On Jan 26, 2021, Taiwan High Court dismissed the appeal, and stayed with the court decision from the first instance as no guilty.
  6. Course and progression of handling of the matter: Parties will cooperate with court to proceed judicial procedure.
  7. Effect on company finances and business and estimated monetary amount of the effect: Company is under regular operation and the event does not have any significant impact on company’s financial status.
  8. Countermeasures and status of amelioration: No
  9. Any other matters that need to be specified: New drug development is a long process associated with high cost. It is not a guaranteed success, which may increase the risk of investment. Investors shall make prudent judgments and investments.