Disclosure of Counterparty Change for Taiwan Offshore Wind Cable Trenching Contract
Counterparty changed from Shinfox Far East Company Pte. Ltd. (SFE) to its parent company FOXWELL ENERGY CORPORATION LTD., with no changes to contract terms (amount, period, etc.).
Total contract amount: KRW 17,515,111,737 (US$12,209,056 at initial exchange rate of 1,434.60 KRW/USD).
Contract amount accounts for 13.4% of the company's latest annual revenue (2024 consolidated: KRW 130,279,123,723).
Contract period: 2025-05-04 to 2026-05-19, for TPC Offshore Wind Power Generation Phase 2 Project (Submarine Cables Trenching & Burial Scope) offshore Changhua County, Taiwan.
Payment terms: 20% down payment, balance paid in cash within 45 days of invoice receipt.
New counterparty FOXWELL ENERGY CORPORATION LTD. reported 2024 consolidated revenue of KRW 757,000,000,000 (TWD 16.7B at exchange rate of 46.81 KRW/TWD).
KOSDAQ Filing Information
Filing: [Correction of Description] Conclusion of Single Sale and Supply Contract