Wu Zongxian clarified rumors of selling houses and repaying debts and reiterated the stability of LED business

Wu Zongxian invested in the LED business and repeatedly passed the financial crisis. A few days ago, the company failed to pay the health insurance premiums, which led to the employee’s application for family member’s death benefit being rejected. The debt was worth NT$600 million. Recently, Wu Zongxian announced that he has sold 10 houses for repayment of loans.

On June 11, Wu Zongxian reiterated that "the LED business is stable and zero-debt", but also admitted that "there have been 10 houses sold for repayment of loans and a profit of NT$700 million."

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