Sinmag Equipment: Correction on initial announcement transaction volume and unit price due to group reorganization on March 15, 2022

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Declaration

1.Name and nature of the underlying assets (if preferred shares,
 the terms and conditions of issuance shall also be indicated,
e.g., dividend yield, etc.):LBC BAKERY EQUIPMENT INC.
(hereinafter referred to as "LBC")97.33%
2.Date of occurrence of the event:2022/03/15
3.Volume, unit price, and total monetary amount of the transaction:
(1)Volume:910,682 shares(97.33% share ownership)
(2)Unit price:313.19
(3)Total monetary amount:NTD 285,220,906
4.Trading counterparty and its relationship to the Company
(if the trading counterparty is a natural person and
furthermore is not a related party of the Company, the name
of the trading counterparty is not required to be disclosed):
(1)Trading counterparty:Sinmag Equipment (China) Co.,
   Ltd.
(2)Its relationship to the Company:subsidiary
5.Where the trading counterparty is a related party,
announcement shall also be made of the reason for choosing
the related party as trading counterparty and the
identity of the previous owner, its relationship with
the Company and the trading counterparty, and the previous
date and monetary value of transfer:
The transaction involves the group reorganization of
subsidiaries, which shall not have impact on financial
business and shareholder's equity of SINMAG EQUIPMENT
CORPORATION.
6.Where an owner of the underlying assets within the past
 five years has been an related party of the Company, the
announcement shall also include the date and price of
acquisition and disposal by the related party, and its
relationship to the Company at the time of the transaction:
NA
7.Matters related to the current disposal of creditors'
 rights (including types of collaterals of the disposed
creditor's rights; if creditor's rights over a related
party, announcement shall be made of the name of the
related party and the book amount of the creditor's
rights, currently being disposed of, over such related
party:NA
8.Profit or loss from the disposal (not applicable in
cases of acquisition of securities) (where originally
deferred, the status of recognition shall be listed and
 explained):
The transaction involves the group reorganization of
subsidiaries, so there is no disposal profit or loss has
been recognized and it has no impact on the shareholders'
equity of the Company.
9.Terms of delivery or payment (including payment period
and monetary value), restrictive covenants in the contract,
 and other important terms and conditions:
Share transfer agreement
10.The manner in which the current transaction was
decided, the reference basis for the decision on price,
and the decision-making unit:
The group reorganization was approved by the audit
committee and the board of directors of the company
on March 15, 2022. The transfer price is based on the
net value of the 2021 financial statement audited by
the accountant and the accountant's opinion on the
reasonableness of the transaction price.
11.Net worth per share of the Company's underlying securities
acquired or disposed of:
NA
12.Cumulative no.of shares held (including the current
transaction), their monetary value, shareholding percentage,
 and status of any restriction of rights (e.g., pledges),
 as of the present moment:
Due to the group reorganization, LBC BAKERY EQUIPMENT
INC. held by Sinmag Equipment (China) Co., Ltd. 97.33%
shares ownership.
13.Ratio of securities investment (including the current
 transaction) to the total assets and shareholder's equity
 of the parent company on the latest financial statements,
 and the operating capital on the latest financial statements,
 as of the present moment:
Ratio of securities investment to the total assets:73%
Ratio of securities investment to the shareholder's
equity:91.45%
Operating capital on the latest financial statements:
-121,242 (thousand NTD)
14.Broker and broker's fee:NA
15.Concrete purpose or use of the acquisition or disposal:
The transaction involves the group reorganization of
subsidiaries, which shall not have impact on financial
business and shareholder's equity of SINMAG EQUIPMENT
CORPORATION.
16.Whether the directors expressed any objection to the current
 transaction:None
17.Whether the counterparty of the current transaction
is a related party:Yes
18.Date of the Board of Directors' resolution:2022/03/15
19.Date of ratification by supervisors or approval by
the Audit Committee:2022/03/15
20.Whether the CPA issued an opinion on the unreasonableness
 regarding the current transaction:No
21.Name of the CPA firm:CHI JING CERTIFIED PUBLIC
ACCOUNTANT FIRM
22.Name of the CPA:CHIH FENG CHIANG
23.License no.of the CPA:NFCPAA1060261
24.Any other matters that need to be specified:
The company holds the subsidiary 882,000 shares(94.26%)
of LBC and 28,682 shares(3.07%) of LBC through an
existing company established in a third region,
Samoa SINMAG LIMITED, which is change to be held by
Sinmag Equipment (China) Co., Ltd..
After the adjustment, Sinmag Equipment (China) Co.,
Ltd. held LBC 910,682 shares(97.33%).
Share.

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