Price Adjustment Announcement

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By: Ted Cheng/MEAN WELL Group CEO of Overseas 
ted@meanwell.com

Dear Partners,

Thank you for your support and promotion of MEAN WELL brand and products!
 
During the epidemic period, MEAN WELL has managed to maintain a stable balance between production and sales based on the concept of “having good intentions, caring about our partners, providing the power of stability and assisting industry recovery”, and to continue providing on-time delivery to customer. However, with the recent rebound in the economy, the prices of materials and parts have risen, the market has been filled with panic buying atmosphere, and panic orders have increased irrationally. With the support of long-term supply chain partners, the vast majority of MEAN WELL model can still be stably supplied to meet the demand of customer’s orders.
 
In the past 10 months, MEAN WELL has experienced 2-3 waves of continuous price increasing from various suppliers, with an average price increase of more than 12%. In order to support our long-term loyal customers, MEAN WELL has maintained same price to support our partners to overcome the difficulties of drastic changes in market conditions and cost risen of everything under covid-19!
 
However, at present, the rising trend of components is not stopping, and the shortage of materials continues to be severe. After careful evaluation, MEAN WELL has decided to increase the selling price of new customers who have not been traded by 10% from November 1, 2021; For old customers, the sales manager may apply for a buffer period, which will take effect according to the new price list from January 1, 2022. Old customers can still place orders according to the current quotation, but must cooperate with MEAN WELL capacity regulation and arrange shipment during Q2 in 2022 (2022/4/1 ~ 2022/6/30). During this period, MEAN WELL will reserve the right to adjust the delivery date, deliver in separate batches, or in stock items can be delivered in advance. MEAN WELL also reserves the right not to accept any orders with an abnormally large quantity exceeding the previous average order quantity.
 
Thank you for your understanding and cooperation. If you have any questions, please contact your sales window.


MEAN WELL Enterprises Co., Ltd.
CEO of Greater China:    Alex Tsai
CEO of Overseas:           Ted Cheng