MEAN WELL BRANCH OFFICE ANNOUNCEMENT FOR COVID-19 (2022/06/27)

Editor: Kevin Chen  Chief Operating Officer    

Dear Partners,

Up to this week, there have been more than 542 million confirmed cases of Covid-19 in the world, with more than 6.32 million deaths. The death rate has continued to drop to 1.17%. Week-on-week number of newly diagnosed cases was 120.82% (up 20.82%). The group maintained normal epidemic prevention measures, adhered to local government regulations, kept social distance and wore masks, and the vaccination rate of the group increased to 99.2%.

US Federal Reserve Chairman Jerome Powell said at a hearing in the US Congress that the Federal Reserve is firmly committed to reducing inflation, tightening monetary policy will be an effective tool to fight inflation, and will continue to raise interest rates.

The G7 and NATO meetings will be held in Munich, Germany from 6/26-6/28 and Madrid, Spain from 6/29-6/30. Senior US officials revealed that the leaders of the participating countries will focus on the impact of the Ukraine-Russia war. Continuing to put pressure on Russia, NATO plans to expand the deployment of troops in Eastern Europe, and discuss China's "coercive economic" measures that have continued to intensify in recent years, focusing on addressing the threats posed by China and Russia.

SDG Group (MEAN WELL+ Powernex + SHARE WELL) continues to promote the concept of "industrial value network". SHARE WELL has successively completed the signing of agreements on automation/placement technology/magnetic parts/precision stamping with partners, as well as the registration of joint venture companies, and planning for entry. Powernex started cooperation projects such as Powernex Institution and Powernex Consultancy. Since this month, orders in the global market have slowly declined. The imbalance between supply and demand in the terminal market and the impact of material shortage have led to a surge in inventories and changes in orders. The new price list of MEAN WELL standard power supply is expected to be officially released on 6/30. Customers and distributor partners should continue to pay attention to market changes, order normally according to market demand.

Taiwan Headquarters (General Manager : Kevin Chen)

    company Risk level PESE Risk situation(Politics Economy Society Enterprise)
    06/05 06/12 06/19 06/26
    MWTW 3.4 3.4 3.4 3.4 P: The issue of "Jinxia Bridge" caused a fierce confrontation between blue, green and white. Kinmen County Mayor said that the construction of the Jinxia Bridge is the common wish of most Kinmen people.
    E: The General Accounting Office announced that the unemployment rate in May was 3.68%, an increase of 0.06 percentage points from April and a new high in nearly seven months.
    S: The Tourism Bureau of the Ministry of Transportation announced the cancellation of the requirement to take 3 doses of vaccines for group tours. Passengers who have not taken 3 doses can replace them with a negative certificate of quick screening within 48 hours.
    E: Stable production, gradually shorten the construction period, and pay attention to the impact of long and short material effects on orders and supply chains.

Guangzhou MEAN WELL (General Manager: Aden Wang)

    company Risk level PESE Risk situation(Politics Economy Society Enterprise)
    06/05 06/12 06/19 06/26
    GZMW 3.2 3.4 3.4 3.4 P: The revision of the Anti-Monopoly Law, focusing on fair competition and strict enforcement, has been completed, and it will be implemented from 8/1.
    E: The LPR interest rate remained unchanged in June, and there is still room for downside and possibility in the future.
    S: National Influenza Center: In June, some southern provinces entered a period of high influenza incidence.
    E: The Guangzhou factory promotes KA/KAM and supply guarantee projects, maintains production and sales level and stable supply, and pays attention to the industrial situation of the domestic demand market in the third quarter.

Suzhou MEAN WELL (General Manager: Alan Liu)

    company Risk level PESE Risk situation(Politics Economy Society Enterprise)
    06/05 06/12 06/19 06/26
    SZMW 3.4 3.4 3.4 3.4 P: On June 22, Xi Jinping attended the opening ceremony of the BRICS Business Forum..
    E: 6/21 RMB against the yen exchange rate 20.40; a 24-year high.
    S: The first Metaverse International Standards Alliance was established.
    E: Promote automation to expand production capacity, and it is expected that Q4 will return to normal delivery time.

MEAN WELL Europe (General Manager: Coleman)

    company Risk level PESE Risk situation(Politics Economy Society Enterprise)
    06/05 06/12 06/19 06/26
    EUMW 3.3 3.4 3.4 3.4 P: EU passed Ukraine’s candidate status. Putin expressed joining EU economy is not concern of Russia.
    E: EU systems projection of 2022 inflation is 6.8% and expect rate increase of 0.25%.
    S: EU Nitrogen directive limits the growth of agriculture and construction of new homes. This has made social unsatisfaction.
    E: Increase leadtime guarantee orders and supporting new energy related focused market. Monitor customer credit control as we have seen signs of instable order.

MEAN WELL USA (General Manager: Leo)

    company Risk level PESE Risk situation(Politics Economy Society Enterprise)
    06/05 06/12 06/19 06/26
    USMW 3.2 3.2 3.4 3.4 P: President Biden is visiting Europe, but not Ukraine.
    E: Goldman Economist Sees US Inflation Ebbing as Recession Risk Rises.
    S: Congress passed the most significant federal gun restrictions in decades.
    E: Market demand slows down. Weekly orders decrease. Continue to promote LTG to stable orders intake.

ASIA (ASIAN Regional Manager: Leo Wu)

    company Risk level PESE Risk situation(Politics Economy Society Enterprise)
    06/05 06/12 06/19 06/26
    INMW 3.2 3.2 3.3 3.3 P: Indian PM Narendra Modi participates in BRICS video summit.
    E: India plans to spend $30 billion to reform tech industry and build chip supply chain.
    S: At least 26 killed in India's monsoon floods and lightning strikes.
    E: Continue to promote the supply guarantee plan and promote KAM.
    SGMW 3.2 3.2 3.3 3.3 P: The two armies conducted an integrated urban combat exercise during the annual joint exercise between the United States and Singapore.
    E: Singapore and Indonesia have discussions on chicken exports, hoping to reach an agreement soon to import chicken in a few weeks.
    S: Singapore has more than 7,000 confirmed daily cases due to border opening BA.4 and BA.5 cases.
    E: On 6/23, the ASEAN dealer meeting will be held in Singapore to exchange market and trend industry information and maintain a reasonable inventory level.
    Japan 3.2 3.2 3.3 3.3 P: The leaders of the United States, Japan and South Korea will attend a NATO meeting at the end of June to discuss North Korea's development of a nuclear bomb.
    E: Japan's consumer price index rose 2.1% compared with last May.
    S: New infections of new coronary pneumonia decreased to 15,381 people on June 23.
    E: Promote the guarantee program and continue to track the status of Q4 orders.

MEAN WELL Group vaccination rate (2022.06.27)

company employees first dose second dose vaccination rate Third dose vaccination rate
GP 2822 2803 2796 99.2% 84.7%
TWMW 345 345 345 100.0% 91.6%
GZMW 1247 1236 1231 98.9% 95.3%
SZMW 1111 1105 1103 99.4% 74.6%
USMW 36 35 35 97.2% 66.7%
EUMW 32 31 31 96.9% 68.8%
INMW 40 40 40 100.0% 2.5%
Representative 11 11 11 100.0% 81.8%

Have good intentions, care our partners, provide the power of stability and assist industry to recover.

SDG Prevention Team 2022/06/27