PRC's Anti-Monopoly Bureau Lifts Restrictive Conditions On ASE and SPIL for Forming Holding Company
Taipei, Taiwan, R.O.C., March 25, 2020 – ASE Technology Holding Co., Ltd. (NYSE: ASX, TAIEX: 3711, “ASEH” or the “Company”), today announced the Company was notified by the Anti-Monopoly Bureau under the State Administration for Market Regulation of People's Republic of China (“Anti-Monopoly Bureau”; formerly known as the Anti-Monopoly Bureau under the Ministry of Commerce) that the Anti-Monopoly Bureau has lifted the restrictive conditions on the joint establishment of ASEH by Advanced Semiconductor Engineering, Inc. (“ASE”) and Siliconware Precision Industries Co., Ltd. (“SPIL”).
ASE and SPIL jointly announced on June 30, 2016 that both companies plan to establish ASEH, and this transaction was conditionally approved by the Anti-Monopoly Bureau on November 24, 2017. As part of the restrictive conditions imposed by the Anti-Monopoly Bureau, ASE and SPIL had to adopt measures such as maintaining operational independence for matters including corporate management, finance, human resources, pricing, sales, capacity and procurement in order to ensure ASE and SPIL operated as independent entities for a specified period of time. ASE and SPIL will be able to cooperate more closely after the aforementioned restrictive conditions have been lifted and this is expected to strengthen ASEH’s operational synergy and R&D capacity, which will enable ASEH to provide higher quality and more customized services to its clients and generate greater returns for its shareholders. ASEH is looking forward to providing superior technical support and services for the advancement of the next-generation digital age.
Safe Harbor Notice:
This press release contains "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Although these forward-looking statements, which may include statements regarding our future results of operations, financial condition or business prospects, are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan” and similar expressions, as they relate to us, are intended to identify these forward-looking statements in this press release. These forward-looking statements are necessarily estimates reflecting the best judgment of our senior management and our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied by the forward-looking statements for reasons including, among others, risks associated with cyclicality and market conditions in the semiconductor or electronic industry; changes in our regulatory environment, including our ability to comply with new or stricter environmental regulations and to resolve environmental liabilities; demand for the outsourced semiconductor packaging, testing and electronic manufacturing services we offer and for such outsourced services generally; the highly competitive semiconductor or manufacturing industry we are involved in; our ability to introduce new technologies in order to remain competitive; international business activities; our business strategy; our future expansion plans and capital expenditures; the strained relationship between the Republic of China and the People’s Republic of China; general economic and political conditions; the recent shift in United States trade policies; possible disruptions in commercial activities caused by natural or human-induced disasters; fluctuations in foreign currency exchange rates; and other factors. For a discussion of these risks and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including the 2018 Annual Report on Form 20-F filed on April 26, 2019.
About ASE Technology Holding Co., Ltd.
ASE Technology Holding Co., Ltd. is among the leading providers of independent semiconductor manufacturing services in assembly, test, materials and design manufacturing. As a global leader geared towards meeting the industry’s ever growing needs for faster, smaller and higher performance chips, ASE Technology Holding develops and offers a wide portfolio of technology and solutions including IC test program design, front-end engineering test, wafer probe, wafer bump, substrate design and supply, wafer level package, flip chip, system-in-package, final test and electronic manufacturing services. For more information about ASE Technology Holding, visit www.aseglobal.com or twitter @asegroup_global