PFC

The Group manufactures and sells discrete power semiconductors and enters the markets of China, Taiwan and other Asian regions under its "PFC" brand. The Group's research and development team is located in Taiwan and focuses on improving product performance and developing new products and technologies. The Group's discrete power semiconductors use proprietary patented component structures and manufacturing methods developed by the Group's internal research and development team. As of the Latest Practicable Date, the Group holds 46 patents registered in the United States, Taiwan and China for the component structures and/or manufacturing methods of its discrete power semiconductors. The Group manufactures most of its products at its Shunde Production Plant located in Shunde, Guangdong, the PRC. In the discrete power semiconductor manufacturing process, the Group performs the packaging and testing processes in the manufacturing process at the Shunde Production Plant and outsources the wafer processing process to an outsourced wafer processing factory. The Group also outsources the packaging process of certain package types of discrete power semiconductors to an outsourced packaging company. As of the Latest Practicable Date, the Group had a total of 94 employees at the Shunde Production Plant. The Group operates sales offices in Taiwan and Hong Kong, the PRC, and a sales logistics office in Shenzhen, the PRC. The Taiwan Sales Office oversees the Group's sales and marketing operations. Most of the Group's discrete power semiconductors are sold to distributors, who in turn resell to direct users of the Group's products, namely, mainly power supply manufacturers, which are then used in a variety of electronic devices.