The Implementation of 3% Stimulation Plan to Reboot Industry Recovery Announcement

Dear Partners,
Since the beginning of 2020 affected by the COVID-19 epidemic, the global economy has experienced a huge recession. In order to boost the industries of many countries affected by the epidemic, MEAN WELL, based on its concept of “having good intentions, caring about our partners, providing the power of stability and assisting industry recovery”, has been asking global partners to jointly promote the “3% Stimulation Plan”  since September 2020, which has received many positive responses. With the strong support of upstream and downstream of supply chain, logistic partners, and global customers, this event has successfully ended.
Thanks to the active participation, not only boosted industry recovery, it also helped MEAN WELL to achieve a record high in revenue in the Q4 of 2020 (USD299.568M), and a total sales revenue of a record high of USD1015.249M in 2020. According to this number, MEAN WELL will donate 3% (USD8.987M) of the group's turnover in the Q4 of 2020 as industry reward fund and charity fund in accordance as promised. After settlement, a total amount of USD6.346M (70.6%) has been directly given back to distributors and end customers to support recovery and development of various industries; the remaining amount of USD2.641M (29.4%) will be spent by branches as local public welfare funds to assist local charity organizations in need. The settlement status and public welfare fund quota of each district are shown in Appendix 1.
MEAN WELL has initially drafted plans for the use of public welfare funds in various regions, which will be widely used for donation to charities, setting up scholarships, supporting partner rehabilitation and other purposes. It is expected the actual implementation status and recipient information will be announced again by the end of February 2021.
Thank you again for your support. We can only resume back to normal operation and life when the whole industry recovers. MEAN WELL is ready, and MEAN WELL can help!!