Billion Electric Co., Ltd. (“Billion Electric,” TSE: 3027) today announced that its Board of Directors and the Board of Directors of its 61.98%-owned subsidiary, Billion Watts Technologies Co., Ltd. (“Billion Watts”), have approved a share conversion plan. Under the resolution, Billion Electric will issue new shares to all existing shareholders of Billion Watts other than Billion Electric. Following the approval of Billion Watts’ Extraordinary General Meeting scheduled for October 8, 2025, and Billion Electric’s filing with regulatory authorities, the conversion is expected to be completed on February 2, 2026. Upon completion, Billion Watts will become a wholly owned subsidiary of Billion Electric.

This transaction represents a key strategic initiative by Billion Electric to respond to industry transformation and optimize its group structure. Going forward, the Company will position renewable energy as its core business, supported by complementary power management and networking operations.

Expected Benefits of the Share Conversion

• Enhancing leverage and shareholder value：Billion Watts’ full earnings contribution will be consolidated into Billion Electric’s financial statements, more accurately reflecting investment value. With complete financial backing, Billion Electric will strengthen operating leverage and improve overall shareholder returns.
• Sharpening focus on renewable energy：Billion Electric’s asset-heavy strength in renewable energy equipment development and manufacturing will be combined with Billion Watts’ asset-light, flexible operating model. This dual advantage will improve capital allocation, project execution, and system integration, reinforcing the Company’s leadership in renewable and smart energy management.
• Optimizing governance and efficiency：Following the conversion, Billion Watts will become a wholly owned subsidiary, streamlining governance and organizational efficiency. This will reduce operating costs, increase decision-making agility, and further strengthen Billion Electric’s long-term financial position.
  

Industry Trends and Opportunities

The renewable energy sector is rapidly evolving, presenting both challenges and opportunities：

• Front-of-the-meter stabilizing, behind-the-meter accelerating：Front-of-the-meter energy storage is entering a demand adjustment phase, signaling industry maturity. Meanwhile, behind-the-meter storage is at an early stage of rapid growth. Leveraging its proven expertise, Billion Watts is well-positioned to capture first-mover advantages.
• Expanding into high-potential international markets：Billion Electric has been actively deploying in Australia and Japan. As projects advance, the Company expects accelerated outcomes and increased international influence.
  

Growth and Positioning of Billion Watts

As a key subsidiary of Billion Electric, Billion Watts has successfully transformed into a leading provider of integrated solar-plus-storage solutions and professional energy asset management services, offering one-stop “design–construction–operation–asset management” capabilities. It is currently Taiwan’s largest builder of energy storage projects, with a cumulative 210 MW of storage installed, over NT$15.8 billion in assets under management, 532 MW of inverters deployed, and more than 550 MW monitored through its proprietary Pixel View platform.

In 2025, Billion Watts formed a joint venture, Renew Billion Energy, with Sino-American Silicon’s subsidiary to focus on behind-the-meter storage, targeting semiconductor, heavy electricity users, and RE100-committed enterprises.

Internationally, Billion Watts is expanding across Australia and Japan. In Victoria, the Anakie Solar-Storage Plant is under development and expected to begin operation in 2026. Across Victoria and New South Wales, six sub-5MW solar-storage projects are underway, benefitting from simplified approvals and faster construction timelines. In Japan, Billion Watts has secured multiple high-voltage storage development rights and signed acquisition intents for three projects in the front-of-the-meter market, while also working with a certified Resource Aggregator to deploy behind-the-meter storage systems for virtual power plant applications.

Billion Electric’s Fully Integrated Energy Chain

Through investments in Billion Watts and collaboration with strategic partners, Billion Electric has established a vertically integrated value chain covering：

• Core equipment including commercial and industrial storage systems, solar inverters, and EV chargers
• System integration design, equipment procurement, and EPC services
• After-sales services, aggregation, and O&M solutions
• Cloud monitoring, AI-based energy management, and SCADA platforms

This comprehensive ecosystem supports enterprises, factories, communities, and utility-scale projects in improving energy efficiency and safeguarding asset value, underscoring Billion Electric’s pivotal role in the energy transition.

Outlook

Guided by its core values of Innovation, Integrity, Professionalism, and Quality, Billion Electric is committed to advancing the global green energy transition. By continuing to expand its renewable energy value chain and pursuing growth with an international perspective, the Company aims to deliver long-term value to customers, shareholders, and society.