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Nanqiao Oils & Fats Co., Ltd.'s Statement in Response to Taishan Company's Press Release

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Statement from Nanqiao Oils & Fats Co., Ltd.

I. Our company learned today that Taishan Enterprises issued a press release stating that "Zhonglian, Fuma Oil, Fushou, and Nanqiao had already..." 5 Starting in [month], Nanqiao Group received warnings of exceeding standards and repeatedly detected abnormalities in the oil three times. Based on this, they sought compensation in New Taiwan Dollars from our company, Zhonglian, Fumao, and Fushou companies. 10 The company deeply regrets and cannot understand the amount involved, which is hundreds of millions of yuan.

Second, as a reputable company, we have always valued consumer rights and practiced independent product management and inspection. When purchasing oil raw materials from Fu Shou Company, we discovered that the benzopyrene level exceeded the standard. We immediately notified Fu Shou Company that the oil was not produced by us. As for Fu Shou Company's failure to report the problem of its products to the competent authority in accordance with the Food Safety and Sanitation Management Act, it is the obligation and responsibility of Fu Shou Company and Zhonglian Oils Company, etc. How could our company have concealed anything?

Third, our company is not the manufacturer of the problematic oil, but rather the first to discover it in the supply chain. According to the indictment issued by the Taichung District Prosecutors Office in Taiwan, Chung Lien Oils was the instigator of this problematic oil production. Taishan Enterprise, as one of the major shareholders and a director of Chung Lien Oils, failed to fulfill its responsibilities as a shareholder and director in accordance with the law, and failed to control the safety of the oil products produced by Chung Lien Oils, and sold the problematic oil products. However, after the incident, it shirked its responsibility and abused its power by suing the downstream customers, namely our company, who purchased oil products from Fu Shou Company and were harmed. In order to protect our corporate image and reputation, our company has appointed lawyers Li Yongran and Huang Feimin from Yung Ran United Law Firm to respond and explain to the court in accordance with the law.

IV. Regarding the fact that all of our company's actions were legal and that we are not a criminal defendant in this problematic oil case, as stated in the indictment issued by the Taichung District Prosecutors Office in Taiwan, our company also... 115 7 29 Japan published a statement in five major newspapers, hoping that Taishan Enterprise would stop shirking its responsibilities, engaging in frivolous lawsuits, and spreading false information, so as to avoid legal liability for infringing on the company's reputation and other legitimate rights and interests.

 

Nanqiao Oils and Fats Co., Ltd.

Spokesperson's Room (02) 6619-3688

Republic of China 115 9 8

appendix:

1150908 - Statement - Nanqiao Oils