Board of Directors of EPISTAR passed the resolution on June 25, 2018 that the NT$1 billion business value will be transferred to the newly established subsidiary in exchange for total 100 million shares of Jingcheng Semiconductor whose newly issued common share will be traded at NT$10 per share. At the same time, Dr. Ming-Jiunn Jou, the President of EPISTAR, resigned and will become the President of Jingcheng Semiconductor. Mr. Chin-Yung Fan will succeed as the President of EPISTAR. The appointment will be effective upon July 16, 2018.

The task of the spin-off is to commit itself to the professional services and a better resource allocation. Dr. Ming-Jiunn Jou will make good use of Epistar Group’s core technologies to concentrate on the development of semiconductor foundry business such as VCSEL and GaN on Si power electronics to increase the aggregate revenue, profitability and return on equity (ROE) and to maximize the value of Epistar Group for shareholders, customers, suppliers, and employees.

Epistar 1.0 has accomplished by two Presidents, Dr. Biing-Jye Lee and Dr. Ming-Jiunn Jou. Dr. Biing-Jye Lee had taken the lead for the first 10 years and is the Chairman of Epistar now. Then, Dr. Ming-Jiunn Jou has been managing the company's operations for the following 10 years. We has undergone several mergers in LED industry and become the global LED leading company in the past 20 years.

For Epistar 2.0, Mr. Chin-Yung Fan will take the role to be the President of EPISTAR. Mr. Chin-Yung Fan is the Vice President of the Sales and Marketing Center and has been working in EPISTAR for 20 years. He has been in charge of AlGaInP and InGaN production, quality management, and marketing. With his extensive leadership and deep industry experience, he will establish and execute a clear vision for the company moving forward and will create a new page. In the coming 20 years, we will extend to different businesses based on Epistar Group’s core technologies and will evolve from“Actualize LED Potential” to“Actualize III-V Semiconductor Potential”.