Spokesperson - everest.com.tw
Transcript of Spokesperson - everest.com.tw
Spokesperson Name: Wengui Hsiang Title: Vice President Tel: 886-6-578-2561 E-mail: [email protected]
Stock Transfer Agent Oriental Securities Co., Ltd. Address: 13 14F, NO 16, Xinzhan Rd., Banqiao Dist., New Taipei City Taiwan Tel: 886-02-7753-1699 Website: http://www.osc.com.tw
Auditors Deloitte & Touche Auditors: Jiz-hen Li & Li-yuan Guo. Address: 13F, 189 Yongfu Road, Sec. 1, Tainan, 70051, Taiwan Tel.: 886-6-213-9988 Website: www.deloitte.com.tw
Corporate Website http://www.everest.com.tw
Headquarters Everest Textile Co., Ltd Address: No.256 Minghe Vil., Shanshang Dist., Tainan City 74342, Taiwan (R.O.C.) Tel: 886-6-5782561
Contents
I. Letter to Shareholders............................................................................................ 1
II. Company Profile
2.1 Date of Incorporation.............................................................................................. 6
2.2 Company History ………....................................................................................... 6
III. Corporate Governance Report
3.1 Organization..........................................................................................................10
3.2 Directors, Supervisors and Management Team…………………………………12
3.3 Implementation of Corporate Governance ........................................................... 29
3.4 Information Regarding the Company’s Audit Fee and Independence.................. 75
3.5 Changes in Shareholding of Directors, Supervisors, Managers and Major
Shareholders……………………………………………………………………..76
3.6 Relationship among the Top Ten Shareholders………..……....………...………77
3.7 Ownership of Shares in Affiliated Enterprises…………………………………77
IV. Capital Overview
4.1 Capital and Shares………………………………………………………….……78
4.2 Bonds…………….………………………………………………………….……81
4.3 Global Depository Receipts ….…………………………………………….……81
4.4 Employee Stock Options…………………………………………………………81
4.5 Status of New Shares Issuance in Connection with Mergers and Acquisitions….81
4.6 Financing Plans and Implementation……………………………………...……..81
V. Operational Highlights
5.1 Business Activities……………………………………………………………….82
5.2 Market and Sales Overview…………………………………….………..………83
5.3 Human Resources……….………………………………………………………92
5.4 Environmental Protection Expenditure………….…………………………….92
5.5 Labor Relations………………………………………………………………93
5.6 Important Contracts……………………………………………………………96
VI. Financial Information
6.1 Five-Year Financial Summary………………………………………….……….97
6.2 Five-Year Financial Analysis…………………………………………….……101
6.3 Supervisors’ or Audit Committee’s Report in the Most Recent Year…………102
6.4 Financial Statements for the Years Ended December 31, 2019 and 2018, and
Independent Auditors’ Report………………………………..…………………102
6.5 Consolidated Financial Statements for the Years Ended December 31, 2019 and
2018, and Independent Auditors’ Report………………………………….…….102
VII. Review of Financial Conditions, Operating Results, and Risk Management
7.1 Analysis of Financial Status…………………………………………………….103
7.2 Analysis of Operation Results……………………………………………..……104
7.3 Analysis of Cash Flow………………………………………..………………105
7.4 Major Capital Expenditure Items……………………………………………106
7.5 Investment Policy in Last Year, Main Causes for Profits or Losses,
Improvement Plans and the Investment Plans for the Coming Year……….…106
7.6 Analysis of Risk Management…………………………………………….…….107
VIII. Special Disclosure
8.1 Summary of Affiliated Companies……………………………………..….…110
8.2 Private Placement Securities in the Most Recent Years………………………113
8.3 The Shares in the Company Held or Disposed of by Subsidiaries in the Most Recent
Years....................................................................................... ........113
I. Letter to Shareholders
Dear Shareholders,
A Foreword
Global economic growth in 2019 stayed in a low situation, mainly due to the slowdown in economic growth in the United States and China, weak economic performance in emerging markets, the continued continuation of the US-China trade war; But the Fed in response to the global economic slowdown, not only to stop the original start of the interest rate hike cycle, in early March 2020 in response to the global spread of the new coronavirus pneumonia epidemic(COVID-19), the financial markets of various countries experienced intense shocks, prompting the Federal Reserve on March 16 to cut interest rates by another 4 yards to 0% to 0.25%, the market forecast of zero interest rates in the United States, which is showing the Fed's economic prospects deepening doubts. In the domestic boom part, although benefiting from the US-China trade turnover effect, Taiwan has so far been barred from entering two neighboring regional trade agreements: CPTPP and RCEP. Taiwan enterprises are highly dependent on the U.S. and European markets, will be highly challenged by china, Japan and South Korea and other rivals. Everest Textile looks into the future will strengthen vertical integration of upstream and downstream supply chain. In the face of the COVID-19 outbreak, it has a major impact on the world's major industrial supply chains. It affects February start rate of Everest Textile Shanghai plant due to work start date deferred and personnel self-isolation and other policies. Since the whole plant appropriate plan on resuming work, in March Shanghai plant was back in fully normalized production. However, due to the rapid spread of COVID-19 from China to Italy, Iran, and even Europe, Americas etc., the main brand customer markets have been affected, resulting in the stagnation of the consumer market, the global economy has a huge impact. Everest Textile in Asia, the Americas, Africa, respectively set up fabric factory and garment factory, has been through the brand customer inspection plant, with a large number of orders. Ethiopia and Haiti have zero tariff advantages, can quickly elastic in response to the scheduling of production areas and production capacity supply, short-chain decentralized production, will be the best partner of global brand customers. In response to major changes in the global economy, Everest Textile will invest prudently and conservatively, expand refined production and increase productivity to reduce operating costs and focus on cash flow in response to the challenges of global deflation;
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B Operating Results Everest Textile consolidated revenue in 2019 was TWD 8.86 billion, down 5.76% from 2018. Net loss was TWD272 million, and EPS was -0.56, mainly from profit to loss Department in the face of low-cost competition in Southeast Asia, the decline in revenue led to a decrease in gross margin, operating expenses rate also due to support the expansion of overseas three factories increased operations, and overseas three new plants in the initial stage of operation, the marketing system is still weak, orders are insufficient, capacity efficiency has yet to be improved, so the overall operating performance did not meet the target. However, with the overseas new three factories have entered the production operation stage, the company to develop a human development strategy, the use of multi-leap ingress, expand sales and research and development related personnel, actively develop and receive orders, expand new market development, and establish a new operating model of e-commerce platform, in response to this wave of global economic crisis.
C 2019 Goals and Future Prospects Looking ahead to 2020, the increasing conflict of US-China trade war, oil war caused by Saudi Arabia and Russia, as well as the spread of the COVID-19 around the world, will affect the uncertainty and direction of the global economic. Countries of the world locked economy, has caused the decline of GDP and consumer market stagnation, governments reducing interest rates, tax cuts and subsidies. How quickly the outbreak of COVID-19 can be controlled, there is still a great deal of uncertainty. Global economic growth is expected to remain weak in 2020. Everest Textile is in the face of this wave of outbreaks caused by highly uncertain market and competition. Only in the spirit of focus on the innovative energy of research and development, strengthen the production of the industry, reduce the strength of the operating costs, and maintain the strength and cash. We need to be very cautious in the face of this severe global financial crisis. By the U.S.-China trade war and COVID-19 transfer effect, government industrial transformation policy, smart and efficient computing and other emerging technology continued to spread, Everest Textile uphold the spirit of "Smart Everest and Sustainable Innovation", with "Humanities x Science" research and development strategy, combined with trends and cooperation with brand customers, with the global layout of one-stop full-value innovation services, and constantly provide multi-functional, sustainable environmental protection fabrics and related garment innovative products and integration services. Make good use of existing core technology alliances with different industries, transition to industrial textiles, choose to match different materials and Everest Textile long fiber, short fiber,
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knitting elasticity and special finishing fit technology, and increase the use of cross-industry market fabrics. In 2020, we will expand its production, combining with the Global Apparel Research Center to provide ODM creative design services from fabric to garment, and inject new growth momentum into the six factories around the world.
Growth Momentum One: From Athleisure (Sports Leisure) Products To Lifestyle Products Based on market trends as the main axis, Everest Textile extends from functional fabrics to life-oriented product design, understanding the needs of consumers "clothing", and then develop more about work, leisure, yoga, jogging ... such as multi-functional products. Its product plan is as follows: 1. Ever Dura-Fila:Emphasize the same level of wear-resistant features as CORDURA products, and withelastic functions, not only wear comfortable and environmentally friendly non-fluorine water-dial function, but also be suitable for all-weather wear, protectinghuman safety and protecting the earth's sustainability.2. Ever E-2000 (Eco-made):With environmentally friendly materials for the idea, coupled with the macro-far falsetechnology, emphasizing the T-400 mechanical bullet has excellent elastic responserate, and has soft imitation cotton feel of the touch, and also be suitable for the fourseasons to wear. Its imitation fur special feel, suitable for the upper body and lowerbody fabric, which is Everest’s popular commodity.3. Ever woven fleece-long pile :By Everest Textile yarn dyeing technology, redefine soft shell products, which havefashionable and popular appearance, four-sided elastic design, and tissue plush warmon back side. It is suitable for autumn and winter season, different from the existingfit cloth species. It attracts the eyes of consumers, which is the main innovationproducts of Everest Textile.
Growth Momentum II: Transforming to Industrials Textiles In 2016-2020, the consumption of fiber for industrial textiles (including vehicles, marine, construction, medical and health and sports) will exceed the consumption of clothing textiles. Industrial textiles have become high-tech and many intellectual property rights as the main competitive industry. Everest Textile uses technology platforms to import smart and flame retardant materials, integrating existing fabric design and post-processing core technologies, jumping into new areas of knowledge to enter the market, and develop products such as Ever FR Work, MED wear, Ever Film and more items. The plan will be based on expanding partnerships with
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ecosystems, jointly developing new product services and new business models, and actively participating in the promotion.
Growth Momentum III: Garment production in Ethiopian Plant and Haiti Plant is gradually in mass production orders In the face of the US-China trade war and the outbreak of COVID-19, resulting in the reconstruction of global supply chain. The regional economy will temporarily replace the global mechanism of the situation. Everest Textile & Apparel integration of the global six factories geographical and its regional economic advantages can work together with third parties, to localize the regional supply chain to break the impact of COVID-19; Everest Textile with high-functional series of environmental protection products, integrated global layout advantages, can provide global customers to respond quickly to market demand, turn the crisis into a turning point, and create irreplaceable value: 1.Increase capacity efficiency and expand cost advantages: Create smart garmentfactories, by using automated production lines, de-skills to multiply efficiency, expandthe production capacity of the cable plant and the Haitian plant to reduce productioncosts, and provide customer advantage costs and services.
2.Combined with the expansion of fabric business to garment services and orders, theperiod to make self-use cloth to more than 50%, the integration of the main sub-material development and design of the printing team, the development of a series ofsample clothing and masks, protective clothing, to provide customers with highervalue, increase the profits of garments.3.Making good use of zero-tariff advantages, expanding the European, AmericanJapanese, and Thailand market: In the post-globalization time, we have layout of theworld close to the market. By using of North Carolina and three Asian fabric factories,with Haiti and Ethiopia garment factories to Europe, USA and Japan zero tariffadvantage, expanding the fabric and garment market.
D In conclusion
In 2019, after a turbulent global political and economic situation, the operating performance failed to meet the targets, coupled with the high investment and operating costs of the new three plants: US dyeing plant, Ethiopian garment factory, and Haitian garment factory. In the beginning of 2020 we are facing the situation of COVID-19 spreading around the world, oil war between Saudi Arabia and Russia, causing the 2020 global economic and financial prospects are unclear. The global climate is not optimistic. Everest Textile in line with its consistent mission and values,
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careful assessment, positive to face the challenges of this global change. The six global factories develop various contingency strategies, in addition to the past few years completed the “Moon Shooting 5+5 Global Layout Plan”, the construction of industrial 4.0 smart factory, AI to improve the efficiency and quality of the process, and began to implement the global talent leap strategy, emphasizing the talent cultivation and expansion of sales and research and development team, the future of the foundation of competitive revenue. In addition to continuing to enhance self-competitiveness with four forces, such as "innovation, wisdom, sustainability, and fine strength", we also actively communicate with professionals in the same industry, actively recruit talents, and build the foundation of Everest Group's sustainable growth with high-quality talent.
In 2020 based on the forward-looking global layout and continuous self-breakthrough of the leaping thinking, in addition to reducing operational risks and more implementation of sustainable management, Everest global six plants will strengthen the joint during the time in the US-China trade war and COVID-19 caused by the international large plant transfer effect. Global customers will be more understanding of Everest global layout of the integration advantages. The use of the Group's high-quality human and global resources, continue to refine product research and development and customer service, so that the Group leaps and bounds, sustainable operation and growth, and always with "2020 Everest to win the year" as the idea, Everest not only becomes a customer priority for long-term partners but also a shareholders, the national community appreciate the benchmark enterprise.
Chairman CEO & President Johnny Hih Ching-Lai Yeh
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II. Company Profile
2.1 Date of Incorporation: 0208, 1977
The company was established on February 8, 1988, with a registered capital of NT$1 billion. The first issue was NT$250 million. In order to construction of the factory, the capital was increased by NT$200 million in May. In August, the capital increased to NT$600 million, and it officially operated in October 1988.
2.2 Company History
1989A.D.: In June 1989, the factory was expanded, and the capital increased by NT$ 400 million. The paid-in capital was NT$1 billion. In the second year after the plant was opened, it was ranked 232nd in the import and export performance of the International Trade Bureau of the Ministry of Economic Affairs.
1990A.D: In October of 1990, in order to improve the financial structure, the capital was increased by NT$ 400 million, the total capital was NT$ 1400 million, and the registered capital was changed to NT$ 2 billion.
1992A.D.: In October 1992, the surplus was increased by NT$ 210 million and the capital reserve was increased by 140 million. The total capital amount was NT$1750 million. Dyeing three plants purchased three setting machines, one reduction machine, eighteen dyeing machines and other machines, and another printing plant added a plate printing machine. The Ministry of Economic Affairs and International Trade Bureau ranked 202nd in import-export performance, and was awarded the second prize, and was one of the manufacturers of the water pollution prevention demonstration of the Environmental Protection Department of the Executive Yuan for its outstanding environmental protection performance.
1993A.D.: In July 1993, the surplus was transferred to capital increase of NT$ 236,250,000, and the capital surplus was transferred to capital increase of NT$26,250,000. After the capital increase, the paid-in share capital is NT$2,012,500,000. In order to expand business and grasp global trade opportunities, Everest (Hong Kong) Co., Ltd. was reinvested and our company held 99% equity.
1994A.D.: In May 1994, the third re-elected meeting includes nine directors and two supervisors. In November 1994, the surplus was transferred to a capital increase of
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NT$211,312,500. After the capital increase, the paid-in share capital is NT$2,223,812,500.In October 1994, the Dyeing and Printing Division passed the ISO-9002 International Quality Assurance Standard Certification on March 18.
1995A.D.: In June 1995, the surplus was transferred to capital increase of $266,857,500, and the paid-up share capital was NT$2,490,670,000. On April 28, 1995, it was listed as the first class of stocks on the Taiwan Stock Exchange centralized market.
1996A.D.: Passed the ISO-9001 international quality assurance standard certification. In May 1996, the factory was expanded, and the surplus was changed to increase the capital by NT$249,067,000, and the capital was increased by 500 million. The total capital was NT$239,737,000.
1997A.D.: In May 1997, nine directors and two supervisors were re-elected. In order to expand the equipment and handle the surplus and capital surplus transfer to increase capital, the total capital amount is NT$323,973,700. For indirect investment in Asia, Bermuda Everest (Holdings) Co., Ltd. was established on July 10, 1997.
1998A.D.: In April 1998, for the expansion of equipment and the repayment of loans, the financial structure was strengthened, the surplus was changed, and the capital was increased to NT$605,830,820. The capital reserve was transferred to NT$106,911,320. The investment was increased to NT$356,400,000., and the total capital is NT$ 4632852840. Expand the new staple fiber fabric factory, integrate the long and short fiber technology research and development capabilities, and establish the company's core competitive advantage. Everest Factory in Thailand was established, with paid-in capital of 300 million baht.
1999A.D.: Passed ISO-14001 environmental management system certification in March of 1999.In August 1999, the surplus was transferred to increase capital with NT$555,942,340,the total capital amount was NT$5,188,795,180.Obtained Oeko-Tex standard 100 environmental certification in October 1999.
2000A.D.: In May 2000, re-elected nine directors and two supervisors of the fifth term meeting.In August 1989, the capital surplus was transferred to capital increase, and the totalcapital amount was NT$259,439,760, and the total capital was NT$5,448,234,940. Andapply for R & D technology projects and electronic funds, so that the companycontinues to enhance R & D strength and expand marketing competitiveness.
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2001A.D.: In 2001, the treasury stocks were reduced by NT$796,980,000. After the capital reduction, the capital amount was NT$ 4,651,254,940.
2002A.D.: In September 2002, the capital reserve was transferred to increase capital for NT$136,039,340, after the capital increase, the capital amount was NT$4,670,684,280.
2003A.D.: In October 2003, the Thai factory increased its capital by 200 million baht, and the total capital was 500 million baht, which expanded the second dye factory in Thailand.
2004A.D.: In August 2004, the capital surplus was transferred to capital increase ofNT$140,120,530. The capital amount after the capital increase was NT$4,810,804,810.In 2004, the Thai factory expanded the weaving factory and purchased 200 new looms.
2005A.D.: In August 2005, the capital surplus was transferred to capital increase NT$96,216,110, and the capital after the capital increase was NT$4,907,020,910.
2006A.D.: In July 2006, Everest Development (Shanghai) Co., Ltd. was established.In August 2006, the treasury stocks were reduced by NT$101,000,000, the capitalsurplus was converted to a capital increase of NT$98,140,420, and the capital after theincrease and decrease of capital was NT$4,904,161,330.
2008A.D.: Obtained certification from the international textile environmental certificationcompany, bluesign® technology in April 2008New business items for medical equipment (cloth used) were added in December 2008.
2009A.D.: In March 2009, our company joined the American Wildlife Conservation AssociationThe Conservation Alliance as a member.In May 2009, it became the first company in Asia to receive bluesign® certification forcoating and laminating products.
2010A.D.: The first company in Taiwan's textile industry to pass the SA8000 certification in December 2010.
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2011A.D.: In August 2011, Garment Department was established and its own brand "EverSmile" was established to create a happy Taiwan.
2014A.D.: Obtained ISO 50001 energy management system certification in December 2014.
2015A.D.: The ERP system was replaced with SAP in April 2015 and went online in November.
2016A.D.: In December 2016, our company obtained Outstanding Workplace Certification, and we were awarded by the Tainan City Health Bureau Medal for Outstanding Workplace Health.
2017A.D.: It was approved by ISO 14001:2015 in March 2017.In June 2017, it was approved by SA8000: 2014 revision.In December 2017, our company was awarded the "Thank You for Investing inAmerica" award by the American Institute in Taiwan.
2019A.D.: In November 2019, the "Happy Taiwan Public Welfare Marathon-The Love of theMountain Waterway" event was held.In December 2019, our company was awarded the "Green Building Corporate SocialResponsibility Model Award" by the Taiwan Green Building CouncilIn December 2019, it was awarded the "Low Carbon Building Contribution Award" bythe Low Carbon Building Alliance..
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3.1.2 Major Corporate Functions Department Functions
General Manager's Office Strategic planning, business planning authorization and supervision, and global sourcing.
Audit Office To identify deficiencies in the internal control system, assess the effectiveness and efficiency of operations, and provide appropriate improvement suggestions to ensure the effectiveness of the internal control system as well as for continuous improvement.
Human Resources Responsible for the planning and execution of human resource management.
Digital Service Center Planning and execution of company network, information, automation and other related affairs.
Advanced Technology Research Institute
Key technology, raw material development, post-processing development.
Research & Development Division
Advanced product and technology research and development, intellectual property development and management.
Sales & Marketing Dept. Responsible for corporate image planning, maintaining and enhancing external public relations, corporate marketing activities worldwide, and analyzing industry data and trends. It is also in charge of formulating and implementing corporate marketing and product plans.
Administration Dept. Planning and execution of general affairs, factory affairs, and information systems.
Yarn Processing Division Production of false twisting and chasing twisting of polyester yarn.
Weaving Division Weaving production of various natural, artificial, synthetic fiber gauze and blended gauze.
Dyeing & Finishing Division Printing and dyeing processing of yarn, silk and cloth and post-processing of finished cloth
Production Dept. Responsible for product manufacturing and production capacity allocation.
Utilities Dept. The company's power, steam, soft water supply and machine maintenance.
Global Apparel I, R, D Garment design, production, sales, operation control
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06.1
2.
18
3 06
.12
15
Rep
rese
ntat
ive
of Y
ue
Yuan
Inve
stm
ent C
o.,
Ltd.
Pa
rtner
Acc
ount
ant o
f M
GI E
xcel
lenc
e &
Co.
, C
PAs
Dire
ctor
R
.O.C
. H
aw S
heng
Li
n M
06
.12.
18
3
06.1
2 18
Law
yer
Dep
artm
ent o
f Law
, Tu
ngha
i Uni
vers
ity
Supe
rvis
or
R.O
.C.
Shio
u C
hung
C
hen
M
06.1
2.
18
3 06
.12
18
Cha
irman
of T
ah T
ong
Text
ile C
o., L
td
Feng
Chi
a U
nive
rsity
B
usin
ess M
anag
emen
t D
epar
tmen
t
Supe
rvis
or
R.O
.C.
Jen
Fa
Che
n M
06
.12.
18
3
06.1
2 18
Dep
artm
ent o
f Law
, N
CC
U
Cha
irman
of C
hyan
g Sh
eng
Dye
ing
&
Fini
shin
g C
o., L
td
Supe
rvis
or
R.O
.C.
Yin
Chi
C
huan
g M
06
.12.
18
3
06.1
2 18
D
irect
or o
f Gua
ngw
ei
Inve
stm
ent C
ompa
ny
- 13 -
Maj
or sh
areh
olde
rs o
f the
inst
itutio
nal s
hare
hold
ers
04 3
0, 2
020
Not
e: If
the
inst
itutio
nal s
hare
hold
er is
not
a c
ompa
ny, t
he n
ames
and
shar
ehol
ding
ratio
of s
hare
hold
ers t
o be
dis
clos
ed a
re th
e na
mes
of p
eopl
e w
ho c
ontri
bute
d or
don
ated
the
capi
tal a
nd th
e ra
tio o
f the
ir co
ntrib
utio
n or
don
atio
n.
Maj
or sh
areh
olde
rs o
f the
Com
pany
’s m
ajor
inst
itutio
nal s
hare
hold
ers
04 3
0, 2
020
Nam
e of
Inst
itutio
nal S
hare
hold
ers
Maj
or S
hare
hold
ers
Yuan
Din
g In
vest
men
t Co.
, Ltd
. Fa
r Eas
tern
New
Cen
tury
Cor
p. (3
7.13
); A
sia C
emen
t Cor
p. (3
5.50
); D
er C
hing
Inve
stm
ent
Cor
p.(1
4.50
); Y
uan-
Din
g C
o., L
td. (
12.8
6)
Wei
yu In
nova
tion
Inve
stm
ent C
o., L
td.
John
ny H
ih(4
7.07
); H
su,H
sueh
-Fan
g(47
.07)
; Hsi
,Chi
-Jen
(2.9
3); W
u,Li
-Hsi
an(0
.52)
Shuo
Qua
n C
o., L
td.
Yeh,
Yu-W
en(6
.66)
; Yeh
,Yu-
Feng
(6.6
6); L
in H
uang
, Chu
an-C
hih(
1.66
)
Yu Y
uan
Inve
stm
ent C
o., L
td.
Asi
a C
emen
t C
orp.
(29
.92)
; Yua
n-D
ing
Co.
, Ltd
. (25
.02)
; Yua
n D
ing
Inve
stm
ent
Co.
, Ltd
. (1
8.96
); U
-Min
g M
arin
e Tr
ansp
ort C
orp.
(17.
66);
Din
g Sh
en In
vest
men
t Co.
, Ltd
. (6.
50);
Yue
Tung
Inve
stm
ent C
o., L
td. (
1.84
); Yu
e D
ing
Indu
strie
s Co.
, Ltd
. (0.
10)
Yue
Din
g In
dust
ry C
o., L
td.
Fu D
a Tra
nspo
rt C
o., L
td. (
26.9
5), Y
ue T
ung
Inve
stm
ent C
o., L
td. (
25.3
6), A
n H
o G
arm
ent C
o.,
Ltd.
(15.
66),
Din
g Yu
an In
tern
atio
nal I
nves
tmen
t Co.
, Ltd
. (13
.20)
, Ton
Fu
Inve
stm
ent C
orp.
(4
.61)
, Ya L
i Pre
cast
Pre
-stre
ssed
Con
cret
e Ind
ustri
es C
orp.
(3.8
9), D
a Ju
Fibe
r Co.
, Ltd
. (3.
89),
Yuan
-Din
g C
o., L
td. (
2.59
), B
ai D
ing
Inve
stm
ent C
o., L
td. (
2.31
), U
-Min
g C
omm
erce
Co.
, Ltd
. (1
.53)
, Far
Eas
tern
App
arel
Co.
, Ltd
.(0.0
1)
Nam
e of
Inst
itutio
nal S
hare
hold
ers
Maj
or S
hare
hold
ers
Far E
aste
rn N
ew C
entu
ry C
orpo
ratio
n A
sia
Cem
ent
Cor
p (2
3.77
), O
rient
al I
nstit
ute
of T
echn
olog
y (4
.81)
, Fa
r Ea
ster
n M
edic
al
Foun
datio
n (3
.61)
, Far
Eas
tern
Y Z
Hsu
Sci
ence
and
Tec
hnol
ogy
Mem
oria
l Fou
ndat
ion
(3.4
2),
Yuan
Ze U
nive
rsity
(2.7
4), N
an S
han
Life
Insu
ranc
e Co
Ltd
(2.8
9), C
hina
Life
Insu
ranc
e Co
Ltd
(1.8
5)
Dou
glas
Ton
g H
su (1
.71)
, Der
Chi
ng In
vest
men
t Cor
p (1
.55)
, Chu
ngw
a Po
st (1
.38)
- 14 -
Nam
e of
Inst
itutio
nal S
hare
hold
ers
Maj
or S
hare
hold
ers
Asi
a C
emen
t Cor
pora
tion
Far E
aste
rn N
ew C
entu
ry C
orp
(22.
33),
Far E
aste
rn M
edic
al F
ound
atio
n (5
.40)
, Wor
ker P
ensi
on
Man
agem
ent C
omm
issi
on o
f Far
Eas
tern
New
Cen
tury
Cor
p (1
.55)
, Yua
n D
ing
Inve
stm
ent C
o Lt
d(1.
53),
Yuan
ta/P
shar
es T
aiw
an D
ivid
end
Plus
ETF
und
er th
e cu
stod
y of
Cat
hy U
nite
d B
ank
(1.5
1), F
ar E
aste
rn D
epar
tmen
t Sto
res (
1.49
), Yu
an Z
e U
nive
rsity
(1.4
1),
Far E
aste
rn Y
Z H
su S
cien
ce a
nd T
echn
olog
y M
emor
ial F
ound
atio
n (1
.31)
, Yu
Yuan
Inve
stm
ent
Co
Ltd
(1.2
9), Y
u C
hang
Inve
stm
ent C
o Lt
d (1
.26)
U-M
ing
Mar
ine
Tran
spor
t Cor
p.
Asi
a C
emen
t Cor
p (3
9.25
), Su
perv
isor
y B
oard
of P
ublic
Ser
vice
Pen
sion
Fun
d (2
.08)
, Cat
hay
Life
Insu
ranc
e C
o Lt
d (1
.60)
, Yua
n D
ing
Inve
stm
ent C
o Lt
d (1
.05)
, Fub
on L
ife In
sura
nce
Co
Ltd
(1.0
4),
Cap
e A
nn G
loba
l D
evel
opin
g M
arke
ts F
und
acco
unt
held
und
er t
he c
usto
dy o
f Ta
iwan
Ban
k (1
), Yu
e Yu
an I
nves
tmen
t Co
Ltd(
0.94
), D
ing
Shen
Inv
estm
ent C
o Lt
d (0
.94)
, Tr
ans G
lobe
Life
Insu
ranc
e In
c. (0
.93)
, Asi
a In
vest
men
t Cor
p (0
.92)
Yuan
-Din
g C
o., L
td.
Far
East
ern
New
Cen
tury
Cor
pora
tion
(37.
13);
Asi
a C
emen
t Cor
pora
tion
(35.
50);
Der
Chi
ng
Inve
stm
ent C
o., L
td. (
14.5
0); Y
uan
Din
g In
vest
men
t Co.
, Ltd
. (12
.86)
Da
Ju F
iber
Co.
, Ltd
. Yu
an D
ing
Inve
stm
ent
Co.
, Lt
d. (
41.8
6);
Yue
Din
g In
dust
ries
Co.
, Lt
d. (
38.7
6);
Yue
Lee
Inve
stm
ent C
o., L
td. (
19.3
8)
U-M
ing
Com
mer
ce C
o., L
td.
Bai
Din
g In
vest
men
t Co.
, Ltd
. (47
); Yu
an D
ing
Inve
stm
ent C
o., L
td. (
45.5
); Yu
e D
ing
Indu
strie
s C
o., L
td. (
5); D
ing
& D
ing
Man
agem
ent C
onsu
ltant
s C
o., L
td. (
1); Y
uan-
Din
g C
o., L
td. (
1);
Yuan
Din
g Le
asin
g C
o., L
td. (
0.5)
Fu D
a Tr
ansp
ort C
o., L
td.
Fu M
ing
Tran
spor
tatio
n C
o., L
td. (
99.8
7); A
sia
Inve
stm
ent C
orp.
(0.0
3)
Yue
Tung
Inve
stm
ent C
o., L
td.
U-M
ing
Mar
ine
Tran
spor
t Cor
p. (
73.5
4); U
-Min
g M
arin
e Tr
ansp
ort (
Sing
apor
e) P
rivat
e Lt
d.
(26.
46)
An
Ho
Gar
men
t Co.
, Ltd
. Fa
r Eas
tern
New
Cen
tury
Cor
p. (1
00)
Din
g Yu
an I
nter
natio
nal
Inve
stm
ent
Co.
, Lt
d.
Far E
aste
rn N
ew C
entu
ry C
orp.
(100
)
Ton
Fu In
vest
men
t Cor
p.
Orie
ntal
Uni
on C
hem
ical
Cor
p. (1
00)
Ya
Li
Prec
ast
Pre-
stre
ssed
C
oncr
ete
Indu
strie
s Cor
p.
Asi
a C
emen
t Cor
pora
tion
(83.
81);
Far-E
aste
rn C
onst
ruct
ion
Engi
neer
ing
Co.
, Ltd
. (16
.03)
- 15 -
Not
e: If
the
inst
itutio
nal s
hare
hold
er is
not
a c
ompa
ny, t
he n
ames
and
shar
ehol
ding
ratio
of s
hare
hold
ers t
o be
dis
clos
ed a
re th
e na
mes
of p
eopl
e w
ho c
ontri
bute
d or
don
ated
the
capi
tal a
nd th
e ra
tio o
f the
ir co
ntrib
utio
n or
don
atio
n.
Nam
e of
Inst
itutio
nal S
hare
hold
ers
Maj
or S
hare
hold
ers
Bai
Din
g In
vest
men
t Co.
, Ltd
. Fa
r Eas
tern
Dep
artm
ent S
tore
s (66
.66)
; Bai
Yan
g In
vest
men
t Co
Ltd
(33.
34)
Yuan
Ton
g In
vest
men
t Co.
, Ltd
. Fa
r Eas
tern
New
Cen
tury
Cor
p. (1
00)
Din
g Sh
en In
vest
men
t Co.
, Ltd
. Yu
an T
ong
Inve
stm
ent C
o., L
td. (
18);
Asi
a In
vest
men
t Co.
, Ltd
. (18
); B
ai D
ing
Inve
stm
ent C
o.,
Ltd.
(18)
; Don
g Fu
Inve
stm
ent C
o., L
td. (
18);
Yue
Tung
Inve
stm
ent C
o., L
td. (
18);
Yue
Din
g In
dust
ries C
o., L
td. (
5); D
a Ju
Fib
er C
o., L
td. (
5)
Far E
aste
rn A
ppar
el C
o., L
td.
Yuan
Din
g In
vest
men
t Co.
, Ltd
. (10
0)
Der
Chi
ng In
vest
men
t Cor
pora
tion
Asi
a C
emen
t Cor
pora
tion
(99.
99),
Asi
a In
vest
men
t Cor
p (0
.01)
- 16 -
Prof
essi
onal
qua
lific
atio
ns a
nd in
depe
nden
ce a
naly
sis o
f dir
ecto
rs a
nd su
perv
isor
s 03
31,
202
0
Not
e: P
leas
e tic
k th
e co
rres
pond
ing
boxe
s tha
t app
ly to
the
dire
ctor
s or s
uper
viso
rs d
urin
g th
e tw
o ye
ars p
rior t
o be
ing
elec
ted
or d
urin
g th
e te
rm
of o
ffice
.
Crit
eria
Nam
e
Mee
t One
of t
he F
ollo
win
g Pr
ofes
sion
al Q
ualif
icat
ion
Req
uire
men
ts, T
oget
her w
ith a
t Lea
st
Five
Yea
rs W
ork
Expe
rienc
e In
depe
nden
ce C
riter
ia (N
ote)
N
umbe
r of
Oth
er P
ublic
C
ompa
nies
in
Whi
ch th
e In
divi
dual
is
Con
curr
ently
Se
rvin
g as
an
Inde
pend
ent
Dire
ctor
An
Inst
ruct
or o
r Hig
her
Posi
tion
in a
Dep
artm
ent o
f C
omm
erce
, Law
, Fin
ance
, A
ccou
ntin
g, o
r Oth
er
Aca
dem
ic D
epar
tmen
t Rel
ated
to
the
Bus
ines
s Nee
ds o
f the
C
ompa
ny in
a P
ublic
or P
rivat
e Ju
nior
Col
lege
, Col
lege
or
Uni
vers
ity
A Ju
dge,
Pub
lic P
rose
cuto
r, A
ttorn
ey, C
ertif
ied
Publ
ic
Acc
ount
ant,
or O
ther
Pr
ofes
sion
al o
r Tec
hnic
al
Spec
ialis
t Who
has
Pas
sed
a N
atio
nal E
xam
inat
ion
and
been
Aw
arde
d a
Cer
tific
ate
in a
Pr
ofes
sion
Nec
essa
ry fo
r the
B
usin
ess o
f the
Com
pany
Hav
e W
ork
Expe
rienc
e in
the
Are
as o
f Com
mer
ce, L
aw,
Fina
nce,
or A
ccou
ntin
g, o
r O
ther
wis
e N
eces
sary
for t
he
Bus
ines
s of t
he C
ompa
ny
1 2
3 4
5 6
7 8
9 10
11
12
John
ny H
ih
X
X
X
X
X
X
X
X
Don
glas
To
ng H
su
X
X
X
X
X
X
X
X
X
Kao
Sha
n W
u X
X
X
X
X
X
X
X
X
Eric
Hu
X
X
X
X
X
X
X
X
X
X
X
X
Chi
ng-L
ai
Yeh
X
X
X
X
X
X
X
X
X
Shou
-Chu
n Ye
h X
X
X
X
X
X
X
X
X
X
X
X
X
Haw
She
ng
Lin
X
X
X
X
X
X
X
X
X
X
X
X
Cha
rles
Wan
g X
X
X
X
X
X
X
X
X
X
X
X
X
X
Shio
u C
hung
Che
n X
X
X
X
X
X
X
X
X
X
X
X
Jen
Fa
Che
n X
X
X
X
X
X
X
X
X
X
X
X
Yin
Chi
C
huan
g X
X
X
X
X
X
X
X
X
X
X
X
- 17 -
1.N
ot a
n em
ploy
ee o
f the
com
pany
or a
ny o
f its
affi
liate
s.2.
Not
a d
irect
or o
r sup
ervi
sor o
f the
com
pany
or a
ny o
f its
affi
liate
s. N
ot a
pply
to in
depe
nden
t dire
ctor
s ap
poin
ted
in a
ccor
danc
e w
ith th
eA
ct o
r the
law
s and
regu
latio
ns o
f the
loca
l cou
ntry
by,
and
con
curr
ently
serv
ing
as su
ch a
t, a
publ
ic c
ompa
ny a
nd it
s par
ent o
r sub
sidi
ary
or a
subs
idia
ry o
f the
sam
e pa
rent
.3.
Not
a n
atur
al-p
erso
n sh
areh
olde
r who
hol
ds sh
ares
, tog
ethe
r with
thos
e he
ld b
y th
e pe
rson
's sp
ouse
, min
or c
hild
ren,
or h
eld
by th
e pe
rson
unde
r oth
ers'
nam
es, i
n an
agg
rega
te o
f one
per
cent
or m
ore
of th
e to
tal n
umbe
r of i
ssue
d sh
ares
of t
he c
ompa
ny o
r ran
king
in th
e to
p 10
in h
oldi
ngs.
4.N
ot a
spo
use,
rela
tive
with
in th
e se
cond
deg
ree
of k
insh
ip, o
r lin
eal r
elat
ive
with
in th
e th
ird d
egre
e of
kin
ship
, of a
man
ager
ial o
ffice
run
der s
ubpa
ragr
aph
1 or
any
of t
he p
erso
ns in
the
prec
edin
g tw
o su
bpar
agra
phs.
5.N
ot a
dire
ctor
, sup
ervi
sor,
or e
mpl
oyee
of a
cor
pora
te s
hare
hold
er th
at d
irect
ly h
olds
five
per
cent
or m
ore
of th
e to
tal n
umbe
r of i
ssue
dsh
ares
of t
he c
ompa
ny, o
r tha
t ran
ks a
mon
g th
e to
p fiv
e in
sha
reho
ldin
gs, o
r tha
t des
igna
tes
its re
pres
enta
tive
to s
erve
as
a di
rect
or o
rsu
perv
isor
of
the
com
pany
und
er A
rticl
e 27
, par
agra
ph 1
or
2 of
the
Com
pany
Act
. Not
app
ly to
inde
pend
ent d
irect
ors
appo
inte
d in
acco
rdan
ce w
ith th
e Act
or t
he la
ws a
nd re
gula
tions
of t
he lo
cal c
ount
ry b
y, a
nd c
oncu
rren
tly se
rvin
g as
such
at,
a pu
blic
com
pany
and
its
pare
nt o
r sub
sidi
ary
or a
subs
idia
ry o
f the
sam
e pa
rent
.6.
If a
maj
ority
of t
he c
ompa
ny's
dire
ctor
sea
ts o
r vot
ing
shar
es a
nd th
ose
of a
ny o
ther
com
pany
are
con
trolle
d by
the
sam
e pe
rson
: not
adi
rect
or, s
uper
viso
r, or
em
ploy
ee o
f tha
t oth
er c
ompa
ny. N
ot a
pply
to in
depe
nden
t dire
ctor
s ap
poin
ted
in a
ccor
danc
e w
ith th
e A
ct o
r the
law
s an
d re
gula
tions
of
the
loca
l cou
ntry
by,
and
con
curr
ently
ser
ving
as
such
at,
a pu
blic
com
pany
and
its
pare
nt o
r su
bsid
iary
or
asu
bsid
iary
of t
he sa
me
pare
nt.
7.If
the
chai
rper
son,
gen
eral
man
ager
, or p
erso
n ho
ldin
g an
equ
ival
ent p
ositi
on o
f the
com
pany
and
a p
erso
n in
any
of t
hose
pos
ition
s at
anot
her
com
pany
or i
nstit
utio
n ar
e th
e sa
me
pers
on o
r are
spo
uses
: not
a d
irect
or (
or g
over
nor)
, sup
ervi
sor,
or e
mpl
oyee
of t
hat o
ther
com
pany
or i
nstit
utio
n. N
ot a
pply
to in
depe
nden
t dire
ctor
s ap
poin
ted
in a
ccor
danc
e w
ith th
e Act
or t
he la
ws
and
regu
latio
ns o
f the
loca
lco
untry
by,
and
con
curr
ently
serv
ing
as su
ch a
t, a
publ
ic c
ompa
ny a
nd it
s par
ent o
r sub
sidi
ary
or a
sub
sidi
ary
of th
e sa
me
pare
nt.
8.N
ot a
dire
ctor
, sup
ervi
sor,
offic
er, o
r sha
reho
lder
hol
ding
five
per
cent
or m
ore
of th
e sh
ares
, of a
spec
ified
com
pany
or i
nstit
utio
n th
at h
asa
finan
cial
or b
usin
ess r
elat
ions
hip
with
the
com
pany
. Not
app
ly to
inde
pend
ent d
irect
ors a
ppoi
nted
in a
ccor
danc
e w
ith th
e Act
or t
he la
ws
and
regu
latio
ns o
f the
loca
l cou
ntry
by,
and
con
curr
ently
serv
ing
as su
ch a
t, a
publ
ic c
ompa
ny a
nd it
s par
ent o
r sub
sidi
ary
or a
subs
idia
ry
- 18 -
of th
e sa
me
pare
nt, i
f the
spe
cifie
d co
mpa
ny o
r ins
titut
ion
hold
s 20
per
cent
or m
ore
and
no m
ore
than
50
perc
ent o
f the
tota
l num
ber o
f is
sued
shar
es o
f the
pub
lic c
ompa
ny.
9.N
ot a
pro
fess
iona
l ind
ivid
ual w
ho, o
r an
owne
r, pa
rtner
, dire
ctor
, sup
ervi
sor,
or o
ffice
r of a
sole
pro
prie
tors
hip,
par
tner
ship
, com
pany
, or
inst
itutio
n th
at, p
rovi
des
audi
ting
serv
ices
to th
e co
mpa
ny o
r any
affi
liate
of t
he c
ompa
ny, o
r tha
t pro
vide
s co
mm
erci
al, l
egal
, fin
anci
al,
acco
untin
g or
rel
ated
ser
vice
s to
the
com
pany
or
any
affil
iate
of
the
com
pany
for
whi
ch th
e pr
ovid
er in
the
past
2 y
ears
has
rec
eive
dcu
mul
ativ
e co
mpe
nsat
ion
exce
edin
g N
T$50
0,00
0, o
r a
spou
se t
here
of;
prov
ided
, thi
s re
stric
tion
does
not
app
ly t
o a
mem
ber
of t
here
mun
erat
ion
com
mitt
ee, p
ublic
ten
der
offe
r re
view
com
mitt
ee, o
r sp
ecia
l co
mm
ittee
for
mer
ger/c
onso
lidat
ion
and
acqu
isiti
on, w
hoex
erci
ses p
ower
s pur
suan
t to
the A
ct o
r to
the
Bus
ines
s Mer
gers
and
Acq
uisi
tions
Act
or r
elat
ed la
ws o
r reg
ulat
ions
.10
.Not
hav
ing
a m
arita
l rel
atio
nshi
p, o
r a re
lativ
e w
ithin
the
seco
nd d
egre
e of
kin
ship
to a
ny o
ther
dire
ctor
of t
he C
ompa
ny.
11.N
ot b
een
a pe
rson
of a
ny c
ondi
tions
def
ined
in A
rticl
e 30
of t
he C
ompa
ny L
aw.
12.N
ot a
gov
ernm
enta
l, ju
ridic
al p
erso
n or
its r
epre
sent
ativ
e as
def
ined
in A
rticl
e 27
of t
he C
ompa
ny L
aw.
- 19 -
3.2.
2 M
anag
emen
t Tea
m
Title
N
atio
-nal
ityN
ame
Gen
der
Dat
e
Effe
ctiv
e
Shar
ehol
ding
Sp
ouse
& M
inor
Shar
ehol
ding
Shar
ehol
ding
by
Nom
inee
A
rran
gem
ent
Expe
rienc
e
Educ
atio
nN
ote1
Man
ager
s who
are
Spou
ses o
r With
in T
wo
Deg
rees
of K
insh
ip
Rem
ark(
s)
(Not
e2)
Shar
es
Shar
es
Shar
es
Title
N
ame
Rel
atio
n
Pres
iden
t R
.O.C
. C
hing
Lai
Ye
h M
77
.02.
08
Prov
inci
al
Taip
ei In
stitu
te
of T
echn
olog
y N
/AN
/A
N/A
N/A
N/A
Vic
e Pr
e.
R.O
.C.
Wen
Kue
i H
sian
g M
95
.06.
01
Nat
iona
l Tai
pei
Uni
vers
ity o
f B
usin
ess
N/A
N/A
N/A
N/A
N/A
Vic
e Pr
e.
R.O
.C.
Chi
n C
hueh
Kao
F
103.
03.0
1 N
atio
nal C
heng
K
ung
Uni
vers
ity
N/A
N/A
N/A
N/A
N/A
Vic
e Pr
e.
R.O
.C.
Hsi
en
Shen
Hun
g M
10
7.03
.19
Kun
Sha
n U
nive
rsity
N
/AN
/AN
/AN
/AN
/A
Vic
e Pr
e.
R.O
.C.
Sen
Mao
W
u M
10
7.03
.16
Feng
Chi
a U
nive
rsity
N
/AN
/AN
/AN
/AN
/A
Vic
e Pr
e.
R.O
.C.
Min
g Y
i H
siao
M
10
1.01
.01
Nat
iona
l Tai
wan
U
nive
rsity
of
Scie
nce
and
Tech
nolo
gy
N/A
N/A
N/A
N/A
N/A
Vic
e Pr
e.
R.O
.C.
Chi
n Li
ang
Che
n M
10
8.03
.19
Far E
ast
Uni
vers
ity
N/A
N/A
N/A
N/A
N/A
Dire
ctor
R
.O.C
. W
en C
hin
Yeh
M
107.
04.0
1 K
un S
han
Uni
vers
ity
N/A
N/A
N/A
N/A
N/A
Dire
ctor
R
.O.C
. Sh
ih Ju
ng
Lin
M
107.
12.0
5 K
un S
han
Uni
vers
ity y
N
/AN
/AN
/AN
/AN
/A
Dire
ctor
R
.O.C
. H
ui M
in
Che
ng
F 10
7.11
.10
Tam
kang
U
nive
rsity
N
/AN
/AN
/AN
/AN
/A
Dire
ctor
R
.O.C
. M
ei N
a Li
u F
108.
02.1
4 Pr
ovin
cial
Ta
ipei
Inst
itute
of
Tec
hnol
ogy
N/A
N/A
N/A
N/A
N/A
Dire
ctor
R
.O.C
. Pi
ng L
iang
C
hen
M
108.
02.1
4 Tu
ngha
i U
nive
rsity
N
/AN
/AN
/AN
/AN
/A
- 20 -
Not
e1: C
urre
ntly
hol
ding
pos
ition
s in
othe
r com
pani
es
Not
e2: T
here
is n
o si
tuat
ion
in th
e co
mpa
ny w
here
the
chai
rman
and
the
gene
ral m
anag
er o
r equ
ival
ents
(the
top
man
ager
) are
the
sam
e pe
rson
, ar
e sp
ouse
s or r
elat
ives
of e
ach
othe
r.
Dire
ctor
R
.O.C
. Tu
ng
Shen
g H
ung
M
106.
06.0
5 Fa
r Eas
t U
nive
rsity
N
/AN
/AN
/AN
/AN
/A
Dire
ctor
R
.O.C
. Y
i Che
ng
Tsen
g M
10
7.09
.14
Orie
ntal
In
stitu
te o
f Te
chno
logy
N
/AN
/AN
/AN
/AN
/A
Dire
ctor
R
.O.C
. C
hien
Hua
K
ao
M
107.
04.0
1 Q
iang
Shu
Hig
h Sc
hool
N
/AN
/AN
/AN
/AN
/A
Dire
ctor
R
.O.C
. C
hin
Li
Kao
F
108.
01.0
1 Ta
ipei
Jing
wen
H
igh
Scho
ol
N/A
N/A
N/A
N/A
N/A
Dire
ctor
R
.O.C
. H
uang
Sh
an L
in
M
108.
01.0
1 Fe
ng C
hia
Uni
vers
ity
N/A
N/A
N/A
N/A
N/A
Dire
ctor
R
.O.C
. H
sian
g Ju
i Li
u M
U
nive
rsity
of
the
Inca
rnat
e W
ord
N/A
N/A
N/A
N/A
N/A
Dire
ctor
R
.O.C
. Ti
ng H
ua
Hun
g M
Ta
mka
ng
Uni
vers
ity
N/A
N/A
N/A
N/A
N/A
Dire
ctor
R
.O.C
. Fu
Yu
Chi
u M
K
un S
han
Uni
vers
ity
N/A
N/A
N/A
N/A
N/A
Dire
ctor
R
.O.C
. W
en
Gua
ng L
uo
M
Nat
iona
l Che
ng
Kun
g U
nive
rsity
EM
BA
N/A
N/A
N/A
N/A
N/A
Dire
ctor
R
.O.C
. C
hiun
g H
ua H
su
F G
olde
n G
ate
Uni
vers
ity
N/A
N/A
N/A
N/A
N/A
Dire
ctor
R
.O.C
. Lu
ng C
hih
Che
n M
Fu
Jen
Cat
holic
U
nive
rsity
N
/AN
/AN
/AN
/AN
/A
Dire
ctor
R
.O.C
. Ts
ung
Hun
g Li
M
Nat
iona
l Pei
-K
ang
Agr
icul
tura
l &
Indu
stria
l Vo
catio
nal H
igh
Scho
ol
N/A
N/A
N/A
N/A
N/A
Man
ager
R
.O.C
. M
ei H
siu
Hua
ng
F Ta
inan
U
nive
rsity
of
Tech
nolo
gy
N/A
N/A
N/A
N/A
N/A
- 21 -
3.2.
3 R
emun
erat
ion
of D
irec
tors
, Ind
epen
dent
Dir
ecto
rs, S
uper
viso
rs, P
resi
dent
, and
Vic
e Pr
esid
ents
Rem
uner
atio
n of
Dir
ecto
rs a
nd In
depe
nden
t Dir
ecto
rs
Uni
t: N
T$ th
ousa
nds
Not
e 1:
The
bus
ines
s exe
cutio
n co
sts r
efer
red
to in
this
tabl
e ar
e th
e ac
tual
issu
ed in
201
9.
Not
e 2:
Non
e of
the
com
pani
es in
the
com
pany
and
the
cons
olid
ated
stat
emen
ts is
sued
stoc
k di
vide
nds f
rom
em
ploy
ee st
ock
optio
ns, n
ew sh
ares
with
rest
ricte
d em
ploy
ee ri
ghts
, and
em
ploy
ee b
onus
es.
Title
N
ame
Rem
uner
atio
n R
atio
of T
otal
R
emun
erat
ion
(A+B
+C+D
) to
Net
In
com
e (%
)
Rel
evan
t Rem
uner
atio
n R
ecei
ved
by D
irect
ors W
ho a
re A
lso E
mpl
oyee
s R
atio
of T
otal
C
ompe
nsat
ion
(A+B
+C+D
+E+F
+G) t
o N
et In
com
e (%
) R
emun
erat
ion
from
ven
ture
s ot
her t
han
subs
idia
ries o
r fro
m th
e pa
rent
co
mpa
ny
(Not
e)
Base
Com
pens
atio
n (A
) Se
vera
nce
Pay
(B)
Dire
ctor
s C
ompe
nsat
ion(
C)
Allo
wan
ces (
D)
Sala
ry, B
onus
es, a
nd
Allo
wan
ces (
E)
Seve
ranc
e Pa
y (F
) Em
ploy
ee C
ompe
nsat
ion
(G)
The
com
pany
All
com
pani
es
in th
e co
nsol
idat
ed
finan
cial
st
atem
ents
The
com
pany
Com
pani
es
in th
e co
nsol
idat
ed
finan
cial
st
atem
ents
The
com
pany
Com
pani
es
in th
e co
nsol
idat
ed
finan
cial
st
atem
ents
The
com
pany
Com
pani
es
in th
e co
nsol
idat
ed
finan
cial
st
atem
ents
The
com
pany
Com
pani
es
in th
e co
nsol
idat
ed
finan
cial
st
atem
ents
The
com
pany
Com
pani
es
in th
e co
nsol
idat
ed
finan
cial
st
atem
ents
The
com
pany
Com
pani
es
in th
e co
nsol
idat
ed
finan
cial
st
atem
ents
The
com
pany
Com
pani
es in
the
cons
olid
ated
fin
anci
al
stat
emen
ts
The
com
pany
Com
pani
es
in th
e co
nsol
idat
ed
finan
cial
st
atem
ents
C
ash
Stoc
k C
ash
Stoc
k
Cha
irman
Jo
hnny
Hih
Dire
ctor
Don
glas
To
ng H
su
Kao
Sha
n W
u
Eric
Hu
Chi
ng-L
ai
Yeh
Shou
-Chu
n Ye
h
Haw
She
ng
Lin
Cha
rles
Wan
g
Inde
pend
ent
Dire
ctor
Shio
u C
hung
C
hen
Jen
Fa C
hen
Yin
Chi
C
huan
g 1.
The
boar
d of
dire
ctor
s will
neg
otia
te th
e m
onth
ly p
aym
ent s
tand
ard
acco
rdin
g to
the
com
pany
’s c
harte
r and
the
indu
stry
leve
l. Th
e fix
ed re
mun
erat
ion
is pa
id, b
ut n
ot p
artic
ipat
es in
the
dist
ribut
ion
of c
ompe
nsat
ion
whe
n th
e co
mpa
ny m
akes
a p
rofit
. In
cons
ider
atio
n of
the
com
pany
's in
dustr
y ch
arac
teris
tics a
nd o
pera
ting/
asse
t sca
le, t
he in
depe
nden
t dire
ctor
's re
mun
erat
ion
refle
cts i
ts a
utho
rity
and
bala
nce.
It sh
ould
be
reas
onab
le.
2.In
add
ition
to th
e ab
ove
rem
uner
atio
n, d
irect
or re
mun
erat
ion
shal
l be
disc
lose
d as
follo
ws w
hen
rece
ived
from
com
pani
es in
clud
ed in
the
cons
olid
ated
fina
ncia
l sta
tem
ents
in th
e m
ost r
ecen
t yea
r to
com
pens
ate
dire
ctor
s for
thei
r ser
vice
s, su
ch a
s bei
ng in
depe
nden
t con
tract
ors.
Non
e.
- 22 -
Not
e3: R
epre
sent
ativ
es o
f Yua
n D
ing
Inve
stm
ent C
o., L
td.:
Don
glas
Ton
g H
su, K
ao S
han
Wu,
Eric
Hu;
Rep
rese
ntat
ives
of Y
ue D
ing
Indu
stry
Co.
, Ltd
.: C
hing
-Lai
Yeh
; Rep
rese
ntat
ives
of S
huo
Qua
n C
o., L
td.:
Shou
-C
hun
Yeh;
Yu
Yuan
Inve
stm
ent C
o., L
td.:
Shen
g Li
n, C
harle
s Wan
g.
Ran
ge o
f Rem
uner
atio
n
Nam
e of
Dire
ctor
s
Tota
l of (
A+B
+C+D
) To
tal o
f (A
+B+C
+D+E
+F+G
)
The
com
pany
C
ompa
nies
in th
e co
nsol
idat
ed
finan
cial
stat
emen
ts Th
e co
mpa
ny
The
pare
nt c
ompa
ny a
nd a
ll in
vest
ed c
ompa
nies
. (I)
Less
than
NT$
1,0
00,0
00
Rep
. of W
eiyu
Inno
vatio
n In
vest
men
t Co.
, Ltd
.: Jo
hnny
Hih
R
ep. o
f Shu
o Q
uan
Co.
, Ltd
.: Sh
ou-C
hun
Yeh
Rep
. of Y
uan
Din
g In
vest
men
t Co.
, Ltd
.: D
ongl
as
Tong
Hsu
, Kao
Sha
n W
u, E
ric H
u R
ep. o
f Yue
Din
g In
dust
ry C
o., L
td.:
Chi
ng-L
ai Y
eh
Rep
. of Y
u Yu
an In
vest
men
t Co.
, Ltd
.: H
aw S
heng
Li
n, C
harle
s Wan
g In
depe
nden
t dire
ctor
s: S
hiou
Chu
ng C
hen,
Jen
Fa
Che
n, Y
in C
hi C
huan
g
Rep
. of W
eiyu
Inno
vatio
n In
vest
men
t Co.
, Ltd
.: Jo
hnny
Hih
R
ep. o
f Shu
o Q
uan
Co.
, Ltd
.: Sh
ou-C
hun
Yeh
Rep
. of Y
uan
Din
g In
vest
men
t Co.
, Ltd
.: D
ongl
as
Tong
Hsu
, Kao
Sha
n W
u, E
ric H
u R
ep. o
f Yue
Din
g In
dust
ry C
o., L
td.:
Chi
ng-L
ai Y
eh
Rep
. of Y
u Yu
an In
vest
men
t Co.
, Ltd
.: H
aw S
heng
Li
n, C
harle
s Wan
g In
depe
nden
t dire
ctor
s: S
hiou
Chu
ng C
hen,
Jen
Fa
Che
n, Y
in C
hi C
huan
g
Rep
. of S
huo
Qua
n C
o., L
td.:
Shou
-Chu
n Ye
h R
ep. o
f Yua
n D
ing
Inve
stm
ent C
o., L
td.:
Don
glas
Ton
g H
su, K
ao S
han
Wu,
Eric
Hu
Rep
. of Y
u Yu
an In
vest
men
t Co.
, Ltd
.: H
aw
Shen
g Li
n, C
harle
s Wan
g In
depe
nden
t dire
ctor
s: S
hiou
Chu
ng C
hen,
Je
n Fa
Che
n, Y
in C
hi C
huan
g
Rep
. of S
huo
Qua
n C
o., L
td.:
Shou
-Chu
n Ye
h R
ep. o
f Yua
n D
ing
Inve
stm
ent C
o., L
td.:
Don
glas
Ton
g H
su, K
ao S
han
Wu,
Eric
Hu
Rep
. of Y
u Yu
an In
vest
men
t Co.
, Ltd
.: H
aw
Shen
g Li
n, C
harle
s Wan
g In
depe
nden
t dire
ctor
s: S
hiou
Chu
ng C
hen,
Je
n Fa
Che
n, Y
in C
hi C
huan
g
NT$
1,00
0,00
0 ~
NT$
1,99
9,99
9 0
0 0
0
NT$
2,00
0,00
0 ~
NT$
3,49
9,99
9 0
0 R
ep. o
f Wei
yu In
nova
tion
Inve
stm
ent
Co.
, Ltd
.: Jo
hnny
Hih
R
ep. o
f Yue
Din
g In
dustr
y C
o., L
td.:
Chi
ng-L
ai Y
eh
Rep
. of W
eiyu
Inno
vatio
n In
vest
men
t C
o., L
td.:
John
ny H
ih
Rep
. of Y
ue D
ing
Indu
stry
Co.
, Ltd
.: C
hing
-Lai
Yeh
N
T$3,
500,
000
~ N
T$4,
999,
999
0 0
0 0
NT$
5,00
0,00
0 ~
NT$
9,99
9,99
9 0
0 0
0 N
T$10
,000
,000
~ N
T$14
,999
,999
0
0 0
0 N
T$15
,000
,000
~ N
T$29
,999
,999
0
0 0
0 N
T$30
,000
,000
~ N
T$49
,999
,999
0
0 0
0 N
T$50
,000
,000
~ N
T$99
,999
,999
0
0 0
0 G
reat
er th
an o
r equ
al to
NT$
100,
000,
000
0 0
0 0
Tota
l 11
11
11
11
- 23 -
Rem
uner
atio
n of
the
Pres
iden
t and
Vic
e Pr
esid
ents
U
nit:
NT$
thou
sand
s
Not
e: a
. S
peci
fy th
e am
ount
of r
emun
erat
ion
rece
ived
by
the
pres
iden
t and
vic
e pr
esid
ents
from
ven
ture
s oth
er th
an su
bsid
iarie
s or f
rom
the
pare
nt c
ompa
ny
in th
is fi
eld
(Ple
ase
fill i
n "N
one"
if n
one)
. b.
Whe
re th
e C
ompa
ny's
pres
iden
t and
vic
e pr
esid
ent r
ecei
ved
rele
vant
rem
uner
atio
n fr
om v
entu
res o
ther
than
subs
idia
ries o
r fro
m th
e pa
rent
com
pany
, the
rem
uner
atio
n re
ceiv
ed b
y th
e C
ompa
ny's
pres
iden
t and
vic
e pr
esid
ent f
rom
ven
ture
s oth
er th
an su
bsid
iarie
s or f
rom
the
pare
ntco
mpa
ny sh
all b
e in
clud
ed in
the
"E"
colu
mn
of th
e re
mun
erat
ion
brac
ket t
able
with
the
colu
mn
nam
e ch
ange
d to
"the
par
ent c
ompa
ny a
nd a
llin
vest
ed c
ompa
nies
."c.
The
rem
uner
atio
n m
eans
pay
, com
pens
atio
n (in
clud
ing
com
pens
atio
n of
em
ploy
ees,
dire
ctor
s and
supe
rvis
ors)
and
bus
ines
s exp
ense
rece
ived
by
the
pres
iden
t or v
ice
pres
iden
t ser
ving
as a
dire
ctor
, sup
ervi
sor o
r man
ager
of v
entu
res o
ther
than
subs
idia
ries o
r of t
he p
aren
t com
pany
.
Title
N
ame
Sala
ry(A
) Se
vera
nce
Pay
(B)
Bon
uses
and
A
llow
ance
s (C
) Em
ploy
ee C
ompe
nsat
ion
(D)
Rat
io o
f tot
al c
ompe
nsat
ion
(A+B
+C+D
) to
net i
ncom
e (%
) R
emun
erat
ion
from
ve
ntur
es o
ther
than
su
bsid
iarie
s or
fro
m
the
pare
nt c
ompa
ny
(Not
e)
The
com
pany
Com
pani
es in
th
e co
nsol
idat
ed
finan
cial
st
atem
ents
The
com
pany
Com
pani
es in
th
e co
nsol
idat
ed
finan
cial
st
atem
ents
The
com
pany
Com
pani
es in
th
e co
nsol
idat
ed
finan
cial
st
atem
ents
The
com
pany
Com
pani
es in
the
cons
olid
ated
finan
cial
st
atem
ents
Th
e co
mpa
ny C
ompa
nies
in
the
cons
olid
ated
fin
anci
al
stat
emen
ts
Cas
h St
ock
Cas
h St
ock
Pres
iden
t C
hing
-Lai
Ye
h
Vic
e Pr
e.
Wen
gui
Xia
ng
Sen
Mao
W
u C
hin
Chu
eh
Kao
M
ing
Yi
Hsi
ao
Hsi
en
Shen
H
ung
- 24 -
Ran
ge o
f Rem
uner
atio
n N
ame
of P
resi
dent
and
Vic
e Pr
esid
ents
The
com
pany
th
e pa
rent
com
pany
and
all
inve
sted
co
mpa
nies
. (E)
Le
ss th
an N
T$ 1
,000
,000
0
0 N
T$1,
000,
000
~ N
T$1,
999,
999
Sen
Mao
Wu
/ Min
g Y
i Hsi
ao
0
NT$
2,00
0,00
0 ~
NT$
3,49
9,99
9 C
hing
-Lai
Yeh
/ Wen
gui X
iang
/ Chi
n Ch
ueh
Kao
/
Hsi
en S
hen
Hun
g
Chi
ng-L
ai Y
eh/ W
engu
i Xia
ng/ C
hin
Chue
h K
ao/
Hsi
en S
hen
Hun
g/ M
ing
Yi H
siao
NT$
3,50
0,00
0 ~
NT$
4,99
9,99
9 Se
n M
ao W
u
NT$
5,00
0,00
0 ~
NT$
9,99
9,99
9 0
0 N
T$10
,000
,000
~ N
T$14
,999
,999
0
0 N
T$15
,000
,000
~ N
T$29
,999
,999
0
0 N
T$30
,000
,000
~ N
T$49
,999
,999
0
0 N
T$50
,000
,000
~ N
T$99
,999
,999
0
0 G
reat
er th
an o
r equ
al to
NT$
100,
000,
000
0 0
Tota
l 6
6
- 25 -
Managerial officers remuneration amounts in a TWSE/TPEx-listed company (disclose their names and remuneration method)
The remuneration disclosed in the table is different from income as defined in the Income Tax Act. This table is therefore provided for disclosure only and is not used for taxation purposes
Unit: NT$ thousands
Note: There is no Employee Compensation- in Stock issued.
Title Name Employee Compensation
- in CashRatio of Total Amount
to Net Income (%)
Executive Officers
President Ching Lai Yeh
441 -0.16%
Vice Pre. Wen Kuei Hsiang
Vice Pre. Chin Chueh Kao
Vice Pre. Hsien Shen Hung
Vice Pre. Sen Mao Wu
Vice Pre. Ming Yi Hsiao
Vice Pre. Chin Liang Chen
Director Wen Chin Yeh
Director Shih Jung Lin
Director Hui Min Cheng
Director Mei Na Liu
Director Ping Liang Chen
Director Tung Sheng Hung
Director Yi Cheng Tseng
Director Chien Hua Kao
Director Chin Li Kao
Director Huang Shan Lin
Director Hsiang Jui Liu
Director Ting Hua Hung
Director Fu Yu Chiu
Director Wen Guang Luo
Director Chiung Hua Hsu
Director Lung Chih Chen
Director Tsung Hung Li
Manager Mei Hsiu Huang
- 26 -
3.2.4 Comparison of Remuneration for Directors, Supervisors, President and Vice Presidents in the Most Recent Two Fiscal Years and Remuneration Policy for Directors, Supervisors, President and Vice Presidents
A. The ratio of total remuneration paid by the Company and by all companies includedin the consolidated financial statements for the two most recent fiscal years todirectors, supervisors, president and vice presidents of the Company, to the netincome.
The ratios of remuneration paid to directors, supervisors, president and vice presidents of the Company and the companies in the consolidated financial statements in the last two years, to net income were 16% and -8%, respectively, in 2018 and 2019. The reduction in the compensation percentages of the directors, supervisors, president and vice presidents resulted from the decline in 2019 earnings as compared to 2018.
B. The policies, standards, and portfolios for the payment of remuneration, theprocedures for determining remuneration, and the correlation with risks andbusiness performance.
In accordance with the provisions of Article 26 of the articles of association of the company, the directors who perform business may receive the salary as the employees. The amount is determined by the board of directors with reference to industry characteristics and relevant industry standards. In addition, annual performance appraisal is given based on individual performance and company performance.
Independent directors who serve as members of the Remuneration Committee have the responsibility to act as conveners, who receive attendance fees in accordance with the standards of related companies.
Article 26 of the Articles of Association of the Company stipulates that if a profit is made in the year, no more than 2.5% shall be made for directors' remuneration. The directors' remuneration in this part has been considered by the board of directors to
Year
Ratio of total remuneration paid to directors, supervisors, president and vice presidents to net income (%)
The company Companies in the consolidated financial statements
2019 -8 -112018 16 19
- 27 -
evaluate the company's operating performance, and is not evenly distributed to each director. It is probably distributed according to the following principles:
1. Allocate and represent directors according to the established distributionratio.
2. As a director who acts as a natural person, such as an independent director,their contribution to the board of directors, the Remuneration Committeeand the Audit Committee is the measure of the payment. Their status in theprofessional field is also one of the criteria for consideration.
The relevant performance appraisal and the rationality of remuneration are reviewed by the Remuneration Committee and the Board of Directors. And at any time, review rationality depending on the actual operating conditions, industry future business risks, development trends and related laws.
The relationship between manager performance evaluation and remuneration: 1. Article 26 of the company's articles of association stipulates that if a profit
is made in the year, 2.0% to 3.5% should be allocated for employeecompensation.
2. The manager’s annual performance evaluation will affect their year-endperformance appraisal, and the good performance of the year-endperformance appraisal will affect their employee compensation after theshareholders’ meeting.
- 28 -
3.3 Implementation of Corporate Governance
3.3.1 Board of Directors
A. Operations of the Board of Directors
A total of 4 (A) meetings of the Board of Directors were held in the previous period. The attendance of director was as follows:
Title Name Attendance
in Person (B) By
Proxy Attendance Rate (%) /
Remarks
Chairman Johnny Hih 4 0 100% Re-election
Director
Donglas Tong Hsu 0 0 0% Re-election
Kao Shan Wu 4 0 100% Re-election
Eric Hu 4 0 100% Re-election
Ching-Lai Yeh 4 0 100% Re-election
Shou-Chun Yeh 4 0 100% Re-election
Haw Sheng Lin 4 0 100% New
Charles Wang 4 0 100% New
Independent director
Shiou Chung Chen 4 0 100% Re-election
Jen Fa Chen 4 0 100% New
Yin Chi Chuang 4 0 100% New
Note: The company re-elected directors on 2018/06/12
Other mentionable items:
1. If any of the following circumstances occur,, the dates of the meetings, sessions, contents of motion, all
independent directors’ opinions and the company’s response should be specified:
(1) Matters referred to in Article 14-3 of the Securities and Exchange Act.: Please refer to the important
resolutions of the board of directors.
(2) Other matters involving objections or expressed reservations by independent directors that were recorded
or stated in writing that require a resolution by the board of directors: The independent directors of the company
all agree with the major proposals of the board of directors without any objections or reservations.
2. If there are directors’ avoidance of motions in conflict of interest, the directors’ names, contents of motion, causes
for avoidance and voting should be specified: None
3. TWSE/TPEx-listed companies are required to disclose the evaluation cycle and period, scope of evaluation,
evaluation method, and evaluation items of the self (or peer) evaluations conducted by the Board of Directors,
and to fill out “Implementation Status of Board Evaluations.”
4. The objectives of strengthening the functions of the board in the current and the most recent year, and the
- 29 -
B. Implementation Status of Board Evaluations
Evaluation cycle (Note 1) Once a year
Evaluation period (Note 2) January 1, 2019 and December 31, 2019
Scope of evaluation (Note 3) Board of Directors, individual directors, audit committee and remuneration committee
Evaluation method (Note 4) Internal self-evaluation, self-evaluation of board members
Evaluation items (Note 5)
1. Performance evaluation of the board of directors: participation in the company’soperations, improving the quality of board decisions, composition and structure ofthe board, selection and continuous training of directors, internal control, etc.
2. Performance evaluation of individual director members: grasp of company goals andtasks, recognition of director responsibilities, participation in company operations,internal relationship management and communication, professional and continuoustraining of directors, internal control, etc.
3. Performance evaluation of functional committees: the degree of participation in thecompany's operations, the recognition of the responsibilities of functionalcommittees, the improvement of decision-making quality of functional committees,the composition of functional committees and the selection of members, internalcontrol, etc.
Note 1: Refers to the cycle of Board evaluations. Note 2: Refers to the period covered by the Board evaluation. Note 3: The scope of performance evaluations includes the Board of Directors, individual
directors, and functional committees. Note 4: The evaluation method includes internal self-evaluation by the Board of Directors, self-
assessment by directors, peer evaluation, and entrusting external professional institutions and experts or using other appropriate methods for performance evaluation.
Note 5: According to the scope of evaluation, evaluation items must at least include the following items:
(1) Board performance evaluation: At least includes level of participation in companyoperations, the quality of Board decisions, Board composition and structure,
assessment of implementation:
In order to strengthen the functions of the board of directors and enable the board of directors to make an objective
and independent judgment on the company's financial business, the company completed the establishment of an
audit committee on June 12, 2018. The Company completed the formulation of the “Board Performance
Evaluation Measures” at the 6th meeting of the 11th Board of Directors on August 8, 2019 and it was disclosed
on the company’s website. The executive unit regularly conducts performance evaluations including the board
of directors, individual director members and functional committees every year, and reports the evaluation results
to the board of directors and exposes them on the company website.
Since the ninth session of the board of directors in 2012, the company has announced the important resolutions
and minutes of each board meeting in the corporate governance section of the company’s website to enhance the
company’s information transparency and protect shareholders’ rights. In order to strengthen corporate
governance, the company has insured directors and supervisors and important staff liability insurance from March
16, 2018, and completed the renewal on March 16, 2020.
- 30 -
appointment of directors and their continued development, and internal controls. (2) Individual director performance evaluation: At least includes grasp of company
targets and missions, understanding of the director's role and responsibilities, level ofparticipation in company operations, internal relationship management andcommunication, director's specialty and continued development, and internal controls.
(3) Functional committee performance evaluation: Participation in company operations,understanding of the responsibilities of functional committees, improvement of thedecision-making quality of functional committees, composition of functionalcommittees, and member selection and internal control.
C. The Situation of Independent Directors Attend the Board Meeting.
A total of 2019 (4) meetings of the Board of Directors were held in the previousperiod. The attendance of independent director was as follows:
The situation of independent directors attend each the board meeting in 2019
: attend in person; : delegate attendance; : absent
2019 Mar 19, 2019
4th(Eleventh Session)
May 9, 2019
5th(Eleventh Session)
Aug 8, 2019
6th(Eleventh Session)
Nov 7, 2019
7th(Eleventh Session)
Yin Chi Chuang
Shiou Chung Chen
Jen Fa Chen
Other matters: 2019 annual board meetings, all independent directors attended in person, and did not hold any objections or reservations to the relevant proposals.
- 31 -
3.3.2 Audit Committee
A. Audit Committee
A total of 4 (A) Audit Committee meetings were held in the previous period. The attendance of the independent directors was as follows:
Title Name Attendance in Person (B)
By Proxy
Attendance Rate (%) /
Remarks
Convener Yin Chi
Chuang 4 0 100%
Committee member
Shiou Chung
Chen 4 0 100%
Committee member
Jen Fa Chen 4 0 100%
Other mentionable items: 1. If any of the following circumstances occur, the dates of meetings, sessions, contents
of motion, resolutions of the Audit Committee and the Company’s response to theAudit Committee’s opinion should be specified:
(1) Matters referred to in Article 14-5 of the Securities and Exchange Act.Meeting Date
(period)
Meeting Minutes Items of Article 14-5
The results of the audit committee and the company's handling of the audit committee's opinions
Mar 19, 2019
3th(First Session)
1. IFRS 16 rental contract initiated progress issue
2. Add EnTie Bank to provide the company's
Medium-Term Loans limit
3. Taishin International Commercial Bank provides
short-term credit limit renewal case
4. Bangkok Bank Public Company Limited provides
the company's Medium-Term Loans and General
Credit limit renewal case
5. HSBC bank (Taiwan) Limited provides the
company's General Credit limit renewal case
6. KGI Bank provides the company's Medium-Term
Loans limit renewal case
7. Bangkok Bank Public Company Limited provides
100% of the company's short-term loans limit of
subsidiaries, and the company provides
endorsement and guarantee
8. For the subsidiary Everest (Bermuda) Holdings
Co., Ltd. to handle the renewal of USD quota with
KGI Bank, the company provides endorsement
and guarantee
All attending members agreed to pass, and reported to the board of directors, all present directors passed without objection
- 32 -
9. For the subsidiary Everest Development
(Shanghai) Co., Ltd. to apply for the renewal of
the credit agreement to the CTBC bank Shanghai
Branch, the company issued a comfort letter
10. The account receivables from the parent-
subsidiary transaction have been over one year.,
the company planned to turn to fund to others
11. The company's 2018 annual business report,
individual and consolidated financial report
12. The company's 2018 surplus allocation case
13. We planned to amend parted articles of the
company's "Procedure for Fund Loans to Others"
14. We planned to amend parted articles of the
company's "endorsement and ,guarantee operation
procedures"
15. We planned to amend parted articles of the
company's " procedures for the acquisition or
disposal of assets"
16. Audit business report from November 2018 to
February 2019
17. The company's 2018 annual internal control
statement
18. Far Eastern International Bank Co., Ltd. provides
short-term and medium-term comprehensive
quota and forward foreign exchange quota due
renewal
19. The Export-Import Bank of Republic of China
Tainan Branch newly added short-term export
loan limit due renewal case
20. The Shanhai Commercial & Savings Bank, Ltd.
provides the company's short-term loan limit,
export negotiation and export loan due renewal
case
21. Entie Commercial Bank, Ltd. provides a short-
term quota for its subsidiary Everest (Bermuda)
Holdings Co., Ltd. with the endorsement and
guarantee of our company.
22. HSBC Bank(Taiwan) Limited provides a general
credit line for its subsidiary Everest (Bermuda)
Holdings Co., Ltd. with the endorsement and
guaranteed by our company
23. Renewed the USD quota for the subsidiary
Everest (Thailand) Co., Ltd. to Mizuho Bank, and our
company provides endorsement and guarantee
- 33 -
4th(First Session) 2. Mega Bank provides the company's short-term
comprehensive quota due renewal and new mid-
term loans
3. TCB Bill Finance Company provides the company
with a short-term commercial paper quota due
renewal case
4. CBF Corporation provides the company with a
short-term commercial paper quota due renewal
case
5. Bank SinoPac provided the company's
comprehensive credit line renewal case
6. Yuanta Commercial Bank provides our company’s
subsidiary Everest (Bermuda) Holdings Co., Ltd.
with a short-term loan limit, and the company
provides endorsement and guarantee.
7. Bank SinoPac provides subsidiary Everest
(Bermuda) Holdings Co., Ltd. with short-term US
dollar loan limit, and the company provides
endorsement and guarantee
8. Our company provides capital loan to its subsidiary
Everest (USA) short-term limit renewal case
9. The account receivables from the parent-subsidiary
transaction have been over one year., we planned
to transfer it as loan to others.
10. Our company loaned Everest Apparel (Ethiopia)
and the debt was sold to Hongzhan International
(Taiwan)
11. Examine the company's 2018 annual business
report
12. Auditing business report from March to April in
year 2019
agreed to pass, and reported to the board of directors, all present directors passed without objection
Aug 8, 2019
5th(First Session)
1. 2019 second quarter consolidated financial report
2. Mega Bank provides the company's short-term
credit limit due renewal and new long-term loan
limit
3. Ta Ching Bills Financial Corporation provide the
company's short-term commercial paper renewal
case
4. Entie Commercial Bank, Ltd. provides the
company's mid-term quota renewal case
5. BNP Paribas provides the company's short-term
quota due renewal case
6. Mizuho Bank provides renewal of the short-term
quota of our subsidiaries, and the company
provides endorsement and guarantee
7. E.SUN Commercial Bank provides short-term quota
All attending members agreed to pass, and reported to the board of directors, all present directors passed without objection
- 34 -
May 9, 2019 1. 2019 first quarter consolidated financial report All attending members
renewal of our subsidiary, and our company
provides endorsement and guarantee
8. For the subsidiary Everest (Bermuda) Holdings Co.,
Ltd., our company apply to Wangdao Bank for the
renewal of the US dollar quota, and our company
provide an endorsement and guarantee
9. For the subsidiary Hongzhan, our company applies
for overseas investment financing to Export-Import
Bank of Republic of China, our company provides
the endorsement and guarantee
10. Our company loaned Everest Apparel
(Ethiopia/Haiti), the debt was sold to Hongzhan
Investment Company
11. The account receivables from the parent-subsidiary
transaction have been over one year, we planned to
transfer it as loan to others
12. Capital increase case for subsidiary Hongzhan
International Investment Co., Ltd.
13. Audit business report from May to July in year
2019
Nov 7, 2019
6th(First Session)
1. 2019 third quarter consolidated financial report
2. Grand Bill company provides the company's short-
term commercial paper renewal case
3. Mega Bills provides the company's short-term
commercial paper renewal case
4. E.SUN Commercial Bank provides the company's
comprehensive credit limit, medium-term loan limit
and export negotiating limit due renewal case
5. Our company’s account receivables from Everest
Apparels (Ethiopia/Haiti), the debt is sold to
Everest Apparels (Hong Kong)
6.Personnel Changes case of the company's financial
officer
7. The case of the company's capital loan and its
subsidiary Hongzhan International Investment
Company
8. August-October 2019 audit business report case
9.Planning 2020 annual audit plan case
All attending members agreed to pass, and reported to the board of directors, all present directors passed without objection
(2) Other matters which were not approved by the Audit Committee but were approvedby two-thirds or more of all directors. None2. If there are independent directors’ avoidance of motions in conflict of interest, the
directors’ names, contents of motion, causes for avoidance and voting should bespecified: None
3. Communications between the independent directors, the Company's chief internalauditor and CPAs (e.g. the material items, methods and results of audits of corporate
- 35 -
finance or operations, etc.) (1) The independent directors convene the audit committee every quarter. After the
meeting, the audit committee produces the minutes of the audit committee, andnotifies the general manager and senior executives of important discussions andresolutions. The internal audit supervisors all attended the meeting to report on theaudit business performance and major internal control internal audit matters, andcompleted the execution, reporting and tracking of the instructions of eachindependent director. Each independent director has no special recommendations.
(2) The visa accountants appointed by the Company communicate with theindependent directors on matters related to the audit (review) of financial reportsand other matters required by the relevant laws and regulations in each quarter ofthe Audit Committee. There is no special recommendation for each independentdirector.
(3) Summary of communication:Meeting With the internal audit supervisor With accountant Mar 19, 2019
3th(First Session)
Internal audit business report from November 2018 to February 2019
Checking of the 2018annual financial report.The results of theinternal control review in2018.
May 9, 2019
4th(First Session)
Internal audit business report from April to March 2019
The review of the financial report for the first quarter of 2019.
Aug 8, 2019
5th(First Session)
Internal audit business report from May to July 2019
The review of financial reports for the first half of 2019.
Nov 7, 2019
6th(First Session)
August-October 2019 internalaudit business reportAnnual audit plan for 2020
The review of the financial report for the third quarter of 2019.
- 36 -
3.3.
3 C
orpo
rate
Gov
erna
nce
Impl
emen
tatio
n St
atus
and
Dev
iatio
ns f
rom
“th
e C
orpo
rate
Gov
erna
nce
Bes
t-Pr
actic
e Pr
inci
ples
for
T
WSE
/TPE
x L
iste
d C
ompa
nies
”
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te
Gov
erna
nce
Bes
t-Pra
ctic
e Pr
inci
ples
for T
WSE
/TPE
x Li
sted
Com
pani
es”
and
Rea
sons
Ye
s N
o A
bstra
ct Il
lust
ratio
n
1.D
oes t
he c
ompa
ny e
stab
lish
and
disc
lose
the
Cor
pora
te G
over
nanc
e B
est-P
ract
ice
Prin
cipl
esba
sed
on “
Cor
pora
te G
over
nanc
e B
est-P
ract
ice
Prin
cipl
es fo
r TW
SE/T
PEx
List
ed C
ompa
nies
”?
The
Com
pany
has
est
ablis
hed
the
Cor
pora
te
Gov
erna
nce
Bes
t -Pra
ctic
e Pr
inci
ples
bas
ed o
n “C
orpo
rate
Gov
erna
nce
Bes
t-Pra
ctic
e Pr
inci
ples
fo
r TW
SE/T
PEx
List
ed C
ompa
nies
”. T
he
info
rmat
ion
has b
een
disc
lose
d on
the
Com
pany
’s w
ebsi
te.
Non
e
2.Sh
areh
oldi
ng st
ruct
ure
& sh
areh
olde
rs’ r
ight
s(1
)D
oes t
he c
ompa
ny e
stab
lish
an in
tern
al o
pera
ting
proc
edur
e to
dea
l with
shar
ehol
ders
’ sug
gest
ions
,do
ubts
, dis
pute
s and
litig
atio
ns, a
nd im
plem
ent
base
d on
the
proc
edur
e?
The
com
pany
has
an
e-m
ail m
ailb
ox fo
r the
aud
it co
mm
ittee
and
aud
it of
fice,
est
ablis
hes
com
mun
icat
ion
chan
nels
with
shar
ehol
ders
and
st
akeh
olde
rs, a
nd h
andl
es sh
areh
olde
rs'
sugg
estio
ns, d
oubt
s, di
sput
es, a
nd li
tigat
ion
rela
ted
mat
ters
in a
ccor
danc
e w
ith re
lev a
nt
stan
dard
s.
Non
e
- 37 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te
Gov
erna
nce
Bes
t-Pra
ctic
e Pr
inci
ples
for T
WSE
/TPE
x Li
sted
Com
pani
es”
and
Rea
sons
Ye
s N
o A
bstra
ct Il
lust
ratio
n
(2)
Doe
s the
com
pany
pos
sess
the
list o
f its
maj
orsh
areh
olde
rs a
s wel
l as t
he u
ltim
ate
owne
rs o
fth
ose
shar
es?
(3)
Doe
s the
com
pany
est
ablis
h an
d ex
ecut
e th
e ris
km
anag
emen
t and
fire
wal
l sys
tem
with
in it
sco
nglo
mer
ate
stru
ctur
e?
(4)
Doe
s the
com
pany
est
ablis
h in
tern
al ru
les
agai
nst i
nsid
ers t
radi
ng w
ith u
ndis
clos
ed
Kee
p ab
reas
t of t
he a
ctua
l con
trolli
ng c
ompa
ny's
maj
or sh
areh
olde
rs a
nd th
e fin
al li
st o
f maj
or
shar
ehol
ders
, and
repo
rt tra
nsac
tion
data
in
acco
rdan
ce w
ith th
e pr
ovis
ions
of t
he li
sted
co
mpa
ny's
info
rmat
ion
repo
rting
ope
ratio
ns..
In a
dditi
on to
the
full-
time
risk
cont
rol o
f ac
coun
ts re
ceiv
able
, the
com
pany
has
als
o es
tabl
ishe
d "p
rocu
rem
ent p
roce
dure
s for
ac
quiri
ng o
r dis
posi
ng o
f ass
ets"
, "pr
oced
ures
for
disb
urse
men
t of f
unds
and
oth
ers"
and
"p
roce
dure
s for
end
orse
men
t gua
rant
ee" w
ith
rela
ted
com
pani
es. T
he ri
sk c
ontro
l mec
hani
sm
and
firew
all h
ave
been
pro
perly
est
ablis
hed.
The
com
pany
has
est
ablis
hed
"int
erna
l mat
eria
l in
form
atio
n pr
oces
sing
pro
cedu
res"
, "et
hica
l co
de o
f con
duct
" an
d "i
nteg
rity
code
of
- 38 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te
Gov
erna
nce
Bes
t-Pra
ctic
e Pr
inci
ples
for T
WSE
/TPE
x Li
sted
Com
pani
es”
and
Rea
sons
Ye
s N
o A
bstra
ct Il
lust
ratio
n
info
rmat
ion?
co
nduc
t", w
hich
pro
hibi
ts in
side
rs o
f the
co
mpa
ny fr
om u
sing
unp
ublis
hed
info
rmat
ion
in
the
mar
ket t
o bu
y an
d se
ll m
arke
tabl
e se
curit
ies,
and
mak
es th
e fo
llow
ing
anno
unce
men
ts:
1.W
hen
the
new
man
ager
sign
s the
decl
arat
ion,
he
will
als
o pr
ovid
e th
e "i
nter
nal
maj
or in
form
atio
n de
clar
atio
n op
erat
ion
proc
edur
e".
2.Irr
egul
arly
ann
ounc
e to
man
ager
s the
"pro
cedu
res f
or th
e de
clar
atio
n of
maj
or in
tern
al
info
rmat
ion"
and
pro
hibi
t ins
ider
s of t
he
com
pany
from
usi
ng u
ndis
clos
ed in
form
atio
n in
th
e m
arke
t to
buy
or se
ll se
curit
ies a
nd o
ther
le
gal i
nfor
mat
ion
rela
ted
to in
tern
al tr
ansa
ctio
ns.
3.Th
e m
anag
ers a
nd e
mpl
oyee
s of t
heco
mpa
ny si
gned
the
conf
iden
tialit
y ag
reem
ent
whe
n th
ey fi
rst t
ook
offic
e, a
nd a
nnou
nced
the
"int
erna
l maj
or in
form
atio
n de
clar
atio
n op
erat
ion
- 39 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te
Gov
erna
nce
Bes
t-Pra
ctic
e Pr
inci
ples
for T
WSE
/TPE
x Li
sted
Com
pani
es”
and
Rea
sons
Ye
s N
o A
bstra
ct Il
lust
ratio
n
proc
edur
es" t
o th
e em
ploy
ees.
3. C
ompo
sitio
n an
d R
espo
nsib
ilitie
s of t
he B
oard
of
Dire
ctor
s(1
)D
oes t
he B
oard
dev
elop
and
impl
emen
t adi
vers
ified
pol
icy
for t
he c
ompo
sitio
n of
its
mem
bers
?
(2)
Doe
s the
com
pany
vol
unta
rily
esta
blis
h ot
her
func
tiona
l com
mitt
ees i
n ad
ditio
n to
the
Rem
uner
atio
n C
omm
ittee
and
the A
udit
The
nom
inat
ion
and
sele
ctio
n of
mem
bers
of t
he
boar
d of
dire
ctor
s ado
pts t
he n
omin
atio
n sy
stem
of
can
dida
tes,
with
refe
renc
e to
the
opin
ions
of
inde
pend
ent d
irect
ors,
and
also
eva
luat
es th
e ac
adem
ic e
xper
ienc
e of
eac
h m
embe
r, an
d ab
ides
by
the
"Ele
ctio
n M
easu
res f
or D
irect
ors a
nd
Supe
rvis
ors"
and
"Cor
pora
te G
over
nanc
e C
ode"
to
ens
ure
dive
rsity
, ind
epen
denc
e an
d Th
e op
inio
ns o
f sta
keho
lder
s are
take
n in
to
cons
ider
atio
n. P
leas
e de
tail
the
succ
essi
on
plan
ning
(Not
e 1)
.
The
com
pany
has
1.
The
occu
patio
nal d
isas
ter i
nves
tigat
ion
and
revi
ew c
omm
ittee
: inv
estig
ate
the
caus
es o
f
Non
e
- 40 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te
Gov
erna
nce
Bes
t-Pra
ctic
e Pr
inci
ples
for T
WSE
/TPE
x Li
sted
Com
pani
es”
and
Rea
sons
Ye
s N
o A
bstra
ct Il
lust
ratio
n
Com
mitt
ee?
(3)
Doe
s the
com
pany
esta
blis
h a s
tand
ard
to m
easu
re
the
perf
orm
ance
of
the
Boa
rd a
nd i
mpl
emen
t it
annu
ally
, and
are
per
form
ance
eva
luat
ion
resu
lts
subm
itted
to
th
e B
oard
of
D
irect
ors
and
refe
renc
ed w
hen
dete
rmin
ing
the
rem
uner
atio
n of
in
divi
dual
di
rect
ors
and
nom
inat
ions
fo
r re
elec
tion?
acci
dent
s and
pre
vent
repe
ated
dis
aste
rs.
2.Ze
ro D
isas
ter P
rom
otio
n O
rgan
izat
ion:
Prev
ent d
isas
ter a
ccid
ents
.3.
"Saf
ety
and
Hea
lth C
omm
ittee
": im
plem
ent
occu
patio
nal s
afet
y an
d he
alth
man
agem
ent.
The
com
pany
has
form
ulat
ed th
e "E
vere
st T
extil
e C
o., L
td. B
oard
of D
irect
ors P
erfo
rman
ce
Eval
uatio
n M
etho
d" in
acc
orda
nce
with
the
Cod
e of
Pra
ctic
e fo
r the
Gov
erna
nce
of L
iste
d C
abin
ets,
whi
ch w
as a
ppro
ved
by th
e bo
ard
of
dire
ctor
s on
Aug
ust 8
, 201
9. E
ach
year
, the
boa
rd
of d
irect
ors a
nd th
e bo
ard
of d
irect
ors m
eetin
g un
its w
ill fo
cus o
n fiv
e as
pect
s (in
clud
ing:
The
le
vel o
f par
ticip
atio
n in
com
pany
ope
ratio
ns,
impr
ovin
g th
e qu
ality
of b
oard
dec
isio
n -m
akin
g,
boar
d co
mpo
sitio
n an
d st
ruct
ure,
sele
ctio
n an
d co
ntin
uous
trai
ning
of d
irect
ors,
and
inte
rnal
- 41 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te
Gov
erna
nce
Bes
t-Pra
ctic
e Pr
inci
ples
for T
WSE
/TPE
x Li
sted
Com
pani
es”
and
Rea
sons
Ye
s N
o A
bstra
ct Il
lust
ratio
n
(4)
Doe
s the
com
pany
regu
larly
eva
luat
e th
ein
depe
nden
ce o
f CPA
s?
cont
rol,
etc.
) are
use
d fo
r int
erna
l boa
rd se
lf-as
sess
men
t to
asse
ss th
e pe
rfor
man
ce o
f the
bo
ard
of d
irect
ors f
or th
e ye
ar. T
he re
sults
of t
he
com
pany
's bo
ard
perf
orm
ance
eva
luat
ion
in 2
019
are
"sur
pass
ed st
anda
rds"
, whi
ch is
suffi
cien
t to
show
the
com
pany
's re
sults
of s
treng
then
ing
the
effe
ctiv
enes
s of t
he b
oard
of d
irect
ors.
The
eval
uatio
n re
sults
are
repo
rted
in th
e re
mun
erat
ion
com
mitt
ee.
In a
ccor
danc
e w
ith A
rticl
e 21
of t
he C
ode
of
Cor
pora
te G
over
nanc
e Pr
actic
es, t
he c
ompa
ny
regu
larly
eva
luat
es th
e in
depe
nden
ce o
f ac
coun
tant
s eve
ry y
ear,
and
repo
rts to
the
boar
d of
dire
ctor
s and
est
ablis
hes a
goo
d co
mm
unic
atio
n ch
anne
l. It
can
alw
ays
com
mun
icat
e op
inio
ns a
nd m
ake
imm
edia
te
impr
ovem
ents
on
the
abno
rmal
ities
foun
d in
the
- 42 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te
Gov
erna
nce
Bes
t-Pra
ctic
e Pr
inci
ples
for T
WSE
/TPE
x Li
sted
Com
pani
es”
and
Rea
sons
Ye
s N
o A
bstra
ct Il
lust
ratio
n
insp
ectio
n. T
he in
depe
nden
ce o
f the
vis
a ac
coun
tant
in 2
019
has b
een
asse
ssed
by
the
boar
d of
dire
ctor
s on
Mar
ch 1
9, 2
019.
4.
Doe
s th
e co
mpa
ny a
ppoi
nt a
sui
tabl
e nu
mbe
r of
co
mpe
tent
per
sonn
el a
nd a
supe
rvis
or re
spon
sibl
e fo
r co
rpor
ate
gove
rnan
ce m
atte
rs (
incl
udin
g bu
t no
t lim
ited
to p
rovi
ding
inf
orm
atio
n fo
r di
rect
ors
and
supe
rvis
ors
to
perf
orm
th
eir
func
tions
, as
sist
ing
dire
ctor
s an
d su
perv
isor
s w
ith c
ompl
ianc
e, h
andl
ing
wor
k re
late
d to
mee
tings
of t
he b
oard
of d
irect
ors a
nd
the
shar
ehol
ders
' mee
tings
, and
pro
duci
ng m
inut
es o
f bo
ard
mee
tings
and
shar
ehol
ders
' mee
tings
)?
The
com
pany
has
a d
edic
ated
staf
f res
pons
ible
for
corp
orat
e go
vern
ance
rel
ated
mat
ters
, in
clud
ing
prov
idin
g di
rect
ors
and
inde
pend
ent
dire
ctor
s w
ith th
e ne
cess
ary
info
rmat
ion
to c
arry
out
thei
r bu
sine
ss,
lega
lly
hand
ling
mat
ters
re
late
d to
m
eetin
gs
of
the
boar
d of
di
rect
ors
and
shar
ehol
ders
' m
eetin
gs,
hand
ling
com
pany
re
gist
ratio
n an
d ch
ange
re
gist
ratio
n,
and
prod
ucin
g bo
ard
and
shar
ehol
ders
m
eetin
g m
inut
es A
nd o
ther
affa
irs.
The
rout
ine
hand
ling
mat
ters
rela
ted
to c
orpo
rate
go
vern
ance
in 2
019
are
as fo
llow
s:
1.H
andl
e m
atte
rs r
elat
ed to
the
mee
tings
of
the
boar
d of
dire
ctor
s an
d th
e au
dit
com
mitt
ee:
4 tim
es e
ach
Non
e
- 43 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te
Gov
erna
nce
Bes
t-Pra
ctic
e Pr
inci
ples
for T
WSE
/TPE
x Li
sted
Com
pani
es”
and
Rea
sons
Ye
s N
o A
bstra
ct Il
lust
ratio
n
2.H
andl
e rel
ated
mat
ters
of s
hare
hold
ers'
mee
ting
and
prod
uce
min
utes
of s
hare
hold
ers'
mee
ting:
1
times
in to
tal
3.H
andl
ing
rela
ted
mat
ters
of
the
rem
uner
atio
nco
mm
ittee
mee
ting:
2 ti
mes
in to
tal
4.A
ssis
t di
rect
ors
in
furth
er
educ
atio
n:
11pe
rson
s, 60
hou
rs in
tota
l5.
Han
dle
mat
ters
rel
ated
to
inve
stor
rel
atio
ns,
such
as
hold
ing
or a
ttend
ing
a co
rpor
ate
brie
fing
sess
ion:
1 ti
mes
in to
tal
6.R
espo
nsib
le
for
corp
orat
e go
vern
ance
eval
uatio
n an
d is
suin
g C
SR re
port.
5.D
oes t
he c
ompa
ny e
stab
lish
a co
mm
unic
atio
nch
anne
l and
bui
ld a
des
igna
ted
sect
ion
on it
sw
ebsi
te fo
r sta
keho
lder
s (in
clud
ing
but n
ot li
mite
dto
shar
ehol
ders
, em
ploy
ees,
cust
omer
s, an
dsu
pplie
rs),
as w
ell a
s han
dle
all t
he is
sues
they
car
efo
r in
term
s of c
orpo
rate
soci
al re
spon
sibi
litie
s?
The
com
pany
has
set u
p "C
onta
ct U
s" o
n th
e co
mpa
ny's
web
site
to e
stab
lish
a co
mm
unic
atio
n ch
anne
l bet
wee
n sh
areh
olde
rs a
nd st
akeh
olde
rs
and
rele
vant
uni
ts o
f the
com
pany
. Eac
h st
akeh
olde
r can
con
tact
the
rele
vant
dep
artm
ents
an
d un
its o
f the
com
pany
at a
ny ti
me
if
Non
e
- 44 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te
Gov
erna
nce
Bes
t-Pra
ctic
e Pr
inci
ples
for T
WSE
/TPE
x Li
sted
Com
pani
es”
and
Rea
sons
Ye
s N
o A
bstra
ct Il
lust
ratio
n
nece
ssar
y, a
nd th
e co
mm
unic
atio
n ch
anne
l is
smoo
th.
6.D
oes t
he c
ompa
ny a
ppoi
nt a
pro
fess
iona
lsh
areh
olde
r ser
vice
age
ncy
to d
eal w
ith sh
areh
olde
raf
fairs
?
The
Com
pany
des
igna
tes O
rient
al S
ecur
ities
Co.
, Lt
d. to
dea
l with
shar
ehol
der a
ffairs
. N
one
7.In
form
atio
n D
iscl
osur
e(1
)D
oes t
he c
ompa
ny h
ave
a co
rpor
ate
web
site
todi
sclo
se b
oth
finan
cial
stan
ding
s and
the
stat
usof
cor
pora
te g
over
nanc
e?
(2)
Doe
s the
com
pany
hav
e ot
her i
nfor
mat
ion
disc
losu
re c
hann
els (
e.g.
bui
ldin
g an
Eng
lish
web
site
, app
oint
ing
desi
gnat
ed p
eopl
e to
han
dle
info
rmat
ion
colle
ctio
n an
d di
sclo
sure
, cre
atin
g a
spok
esm
an sy
stem
, web
cast
ing
inve
stor
conf
eren
ces)
?
The
Com
pan y
has
set u
p a
Chi
nese
/Eng
lish
web
site
(http
://w
ww.
ever
est.c
om.tw
) to
disc
lose
in
form
atio
n re
gard
ing
the
Com
pany
’s fi
nanc
ials
, bu
sine
ss a
nd c
orpo
rate
gov
erna
nce
stat
us.
In a
dditi
on to
hav
ing
a sp
okes
pers
on a
nd a
ctin
g sp
okes
pers
on in
acc
orda
nce
with
the
regu
latio
ns
and
impl
emen
ting
them
, the
re a
re st
ill o
ccas
iona
l le
gal p
erso
n br
iefin
gs a
nd d
esig
nate
d pe
rson
s to
be re
spon
sibl
e fo
r the
col
lect
ion
of c
ompa
ny
info
rmat
ion,
and
regu
lar o
r irr
egul
ar d
iscl
osur
e at
pu
blic
info
rmat
ion
obse
rvat
orie
s and
the
Non
e
- 45 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te
Gov
erna
nce
Bes
t-Pra
ctic
e Pr
inci
ples
for T
WSE
/TPE
x Li
sted
Com
pani
es”
and
Rea
sons
Ye
s N
o A
bstra
ct Il
lust
ratio
n
(3)
Doe
s th
e co
mpa
ny a
nnou
nce
and
repo
rt an
nual
fin
anci
al s
tate
men
ts w
ithin
two
mon
ths
afte
r th
e en
d of
eac
h fis
cal y
ear,
and
anno
unce
and
repo
rt Q
1, Q
2, a
nd Q
3 fin
anci
al s
tate
men
ts, a
s w
ell a
s m
onth
ly o
pera
tion
resu
lts, b
efor
e th
e pr
escr
ibed
tim
e lim
it?
com
pany
’s w
ebsi
te re
leva
nt in
form
atio
n.
The
com
pany
han
dles
it in
acc
orda
nce
with
the
prov
isio
ns o
f Arti
cle
36 o
f the
"Sec
uriti
es
Trad
ing
Law
". Th
e co
mpa
ny's
finan
cial
repo
rts
and
mon
thly
ope
ratin
g co
nditi
ons a
re re
porte
d to
th
e pu
blic
info
rmat
ion
obse
rvat
ory
http
s://m
ops.t
wse
.com
.tw/m
ops/
web
/inde
x
8.Is
ther
e an
y ot
her i
mpo
rtant
info
rmat
ion
to fa
cilit
ate
a be
tter u
nder
stan
ding
of t
he c
ompa
ny’s
cor
pora
te g
over
nanc
e pr
actic
es (e
.g.,
incl
udin
g bu
tno
t lim
ited
to e
mpl
oyee
righ
ts, e
mpl
oyee
wel
lnes
s, in
vest
or re
latio
ns, s
uppl
ier r
elat
ions
, rig
hts o
f sta
keho
lder
s, di
rect
ors’
and
supe
rvis
ors’
train
ing
reco
rds,
the
impl
emen
tatio
n of
risk
man
agem
ent p
olic
ies a
nd ri
sk e
valu
atio
n m
easu
res,
the
impl
emen
tatio
n of
cus
tom
er re
latio
nspo
licie
s, an
d pu
rcha
sing
insu
ranc
e fo
r dire
ctor
s and
supe
rvis
ors)
?
For o
ther
impo
rtant
info
rmat
ion
that
hel
ps to
und
erst
and
the
oper
atio
n of
cor
pora
te g
over
nanc
e, p
leas
e re
fer t
o O
ther
Impo
rtant
I nfo
rmat
ion
that
ca
n en
hanc
e th
e un
ders
tand
ing
of th
e op
erat
ion
of c
orpo
rate
gov
erna
nce.
- 46 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te
Gov
erna
nce
Bes
t-Pra
ctic
e Pr
inci
ples
for T
WSE
/TPE
x Li
sted
Com
pani
es”
and
Rea
sons
Ye
s N
o A
bstra
ct Il
lust
ratio
n
9.Pl
ease
exp
lain
the
impr
ovem
ents
whi
ch h
ave
been
mad
e in
acc
orda
nce
with
the
resu
lts o
f the
Cor
pora
te G
over
nanc
e Ev
alua
tion
Syst
em re
leas
edby
the
Cor
pora
te G
over
nanc
e C
ente
r, Ta
iwan
Sto
ck E
xcha
nge,
and
pro
vide
the
prio
rity
enha
ncem
ent m
easu
res.
The
com
pany
's 20
19 "
Cor
pora
te G
over
nanc
e Ev
alua
tion"
resu
lts a
re li
sted
com
pani
es w
ith ra
nkin
gs ra
ngin
g fr
om 5
1% to
65%
, and
scor
ed 6
2.47
po
ints
. Thi
s yea
r, w
e w
ill fo
cus o
n un
scor
ed it
ems:
"Doe
s the
com
pany
's w
ebsi
te o
r ann
ual r
epor
t dis
clos
e th
e in
tegr
ity m
anag
emen
t pol
icy
form
ulat
ed, s
peci
fy sp
ecifi
c pr
actic
es a
nd p
lans
to p
reve
nt d
isho
nest
y?" P
riorit
ize
impr
ovem
ent.
Impr
ovem
ent m
easu
res:
The
com
pany
firs
t rev
ised
the
com
pany
's co
de o
f int
egrit
y m
anag
emen
t on
Mar
ch 1
9, 2
020,
with
refe
renc
e to
the
stoc
k ex
chan
ge a
nnou
ncem
ent,
and
inst
ruct
ed th
e he
ad o
f the
man
agem
ent d
epar
tmen
t and
hum
an re
sour
ces t
o im
plem
ent s
peci
fic re
gula
tions
rela
ted
to th
e in
tegr
ity m
anag
emen
t pol
icy
in th
e th
ird q
uarte
r of t
his y
ear P
ract
ices
and
pla
ns to
pre
vent
dis
hone
sty,
and
spec
ific
actio
ns su
ch a
s the
m
anag
emen
t of i
nteg
rity
man
agem
ent e
duca
tion
and
train
ing
(incl
udin
g th
e su
bjec
t of t
he c
ours
e, h
ours
and
num
ber o
f par
ticip
ants
), et
c., a
nd
regu
larly
repo
rt to
the
boar
d of
dire
ctor
s. C
ompi
led
the
Engl
ish
vers
ion
of th
e an
nual
repo
rt an
d st
reng
then
ed th
e nu
mbe
r of h
ours
of d
irect
or
train
ing.
Stre
ngth
en d
iscl
osur
es o
n of
ficia
l web
site
s, an
nual
repo
rts a
nd p
ublic
info
rmat
ion
obse
rvat
orie
s. N
ote
2: S
ucce
ssio
n pl
anni
ng a
nd m
anag
emen
t obj
ectiv
es o
f boa
rd m
embe
rs a
nd im
porta
nt m
anag
emen
t In
the
succ
essi
on p
lann
ing
of th
e co
mpa
ny, i
n ad
ditio
n to
the
need
to h
ave
exce
llent
wor
king
abi
lity,
the
succ
esso
r's b
usin
ess
philo
soph
y m
ust b
e co
nsis
tent
with
the
com
pany
. The
com
pany
's im
porta
nt b
usin
ess p
hilo
soph
y is
to w
in, l
earn
, and
cha
nge,
and
to c
onst
antly
tran
sfor
m a
nd
upgr
ade.
; So
cial
indi
cato
rs h
ave
also
bee
n ad
ded
to th
e pe
rfor
man
ce a
ppra
isal
pro
ject
of d
irect
ors’
self-
asse
ssm
ent t
o st
reng
then
the
boar
d m
embe
rs’ d
ispl
ay o
f int
egrit
y an
d et
hica
l val
ue th
roug
h th
eir i
nstru
ctio
ns, a
ctio
ns a
nd b
ehav
iors
to e
xpre
ss th
e im
porta
nce
of su
ppor
ting
the
oper
atio
n of
the
inte
rnal
con
trol s
yste
m (f
or e
xam
ple:
the
boar
d ad
opts
spec
ific
Mea
sure
s to
set t
he to
ne fo
r eth
ical
, soc
ial,
envi
ronm
enta
l
- 47 -
prot
ectio
n or
oth
er fo
rms o
f res
pons
ible
beh
avio
r, in
clud
ing
impo
rtant
pro
ject
s suc
h as
gre
enho
use
gas e
mis
sion
repo
rts, s
usta
inab
le p
rodu
ctio
n pr
oces
ses o
r com
mun
ity a
ssis
tanc
e af
ter n
atur
al d
isas
ters
). In
the
2018
shar
ehol
ders
' mee
ting,
eig
ht d
irect
ors a
nd th
ree
inde
pend
ent d
irect
ors
wer
e el
ecte
d. E
ach
dire
ctor
mem
ber u
nder
stan
ds a
nd a
gree
s with
the
com
pany
's bu
sine
ss p
hilo
soph
y an
d gr
asps
the
com
pany
's in
dust
rial
situ
atio
n. A
t the
sam
e tim
e, w
e ha
ve c
onsi
dera
ble
expe
rienc
e in
inte
rnat
iona
l pol
itica
l and
eco
nom
ic si
tuat
ions
, com
plia
nce
with
law
s and
re
gula
tions
, int
erna
tiona
l man
agem
ent a
nd m
anuf
actu
ring
man
agem
ent,
and
in o
rder
to re
spon
d to
the
ever
-cha
ngin
g in
tern
atio
nal c
ompe
titio
n m
anag
emen
t env
ironm
ent a
nd th
e co
ntin
uous
upd
atin
g of
law
s and
regu
latio
ns (s
uch
as c
orpo
rate
gov
erna
nce)
, our
com
pany
als
o Pl
an e
xclu
sive
co
urse
s for
boa
rd m
embe
rs to
ens
ure
that
seni
or e
xecu
tives
hav
e th
e m
anag
emen
t abi
lity
to k
eep
up w
ith th
e tim
es.
For i
mpo
rtant
man
agem
ent l
evel
s, th
e com
pany
has
a se
ries o
f com
plet
e exe
cutiv
e pro
mot
ion
and
train
ing
prog
ram
s, co
oper
ates
with
the c
ompa
ny's
oper
atio
ns a
nd th
e pa
ce o
f glo
baliz
atio
n, p
rom
otes
per
sona
l dev
elop
men
t pla
ns, a
nd li
sts
"inn
ovat
ion"
as
a ne
cess
ary
com
pete
nce
for a
ll cl
asse
s, co
mbi
ned
with
per
sona
l dev
elop
men
t Sum
mar
y of
IDP
need
s, ta
ilor-
mad
e pe
rson
al le
arni
ng m
aps;
ann
ual c
urric
ulum
pla
nnin
g is
bas
ed o
n th
e co
llect
ed n
eeds
, cur
ricul
um p
lann
ing
and
desi
gn, a
nnua
l per
form
ance
app
rais
al, u
nder
stan
ding
of t
he c
urre
nt s
tatu
s of
per
sona
l abi
litie
s, gi
ving
ap
prop
riate
gui
danc
e an
d as
sist
ance
, Im
prov
e pe
rfor
man
ce.
For s
enio
r exe
cutiv
es to
take
ove
r the
ech
elon
, con
duct
"su
perv
isor
trai
ning
cou
rses
", th
roug
h ex
perie
nce
inhe
ritan
ce a
nd p
ract
ical
cas
e st
udie
s, et
c., t
o en
able
em
ploy
ees
with
pot
entia
l and
exc
elle
nt p
erfo
rman
ce to
gro
w q
uick
ly a
nd th
rive,
and
then
bec
ome
exce
llent
lead
ers
in v
ario
us
busi
ness
gro
ups t
o cr
eate
bas
e le
ader
s Gre
en, t
o en
sure
sust
aina
ble
oper
atio
n.
- 48 -
3.3.4 Composition, Responsibilities and Operations of the Remuneration Committee
A. Professional Qualifications and Independence Analysis of RemunerationCommittee Members
Note: Please tick the corresponding boxes that apply to a member during the two years prior to being elected or during the term(s) of office.
1. Not an employee of the company or any of its affiliates.2. Not a director or supervisor of the company or any of its affiliates. Not apply to
independent directors appointed in accordance with the Act or the laws andregulations of the local country by, and concurrently serving as such at, a publiccompany and its parent or subsidiary or a subsidiary of the same parent.
3. Not a natural-person shareholder who holds shares, together with those held bythe person's spouse, minor children, or held by the person under others' names, inan aggregate of one percent or more of the total number of issued shares of thecompany or ranking in the top 10 in holdings.
4. Not a spouse, relative within the second degree of kinship, or lineal relative withinthe third degree of kinship, of a managerial officer under subparagraph 1 or anyof the persons in the preceding two subparagraphs.
5. Not a director, supervisor, or employee of a corporate shareholder that directlyholds five percent or more of the total number of issued shares of the company,or that ranks among the top five in shareholdings, or that designates itsrepresentative to serve as a director or supervisor of the company under Article27, paragraph 1 or 2 of the Company Act. Not apply to independent directors
Title
Criteria
Name
Meets One of the Following Professional Qualification Requirements, Together with at Least Five Years’ Work
ExperienceIndependence Criteria (Note)
Number of Other Public Companies in
Which the Individual is Concurrently Serving as an Remuneration
Committee Member
Remarks
An instructor or higher position in a department of commerce, law, finance, accounting, or other academic department related to the business needs of the Company in a public or private junior college, college or university
A judge, public prosecutor, attorney, Certified Public Accountant, or other professional or technical specialist who has passed a national examination and been awarded a certificate in a profession necessary for the business of the Company
Has work experience in the areas of commerce, law, finance, or accounting, or otherwise necessary for the business of the Company
1 2 3 4 5 6 7 8 9 10
IndependentDirector
Yin Chi Chuang 0
IndependentDirector
Jen Fa Chen 0
Other Jun youLin 0
- 49 -
appointed in accordance with the Act or the laws and regulations of the local country by, and concurrently serving as such at, a public company and its parent or subsidiary or a subsidiary of the same parent.
6. If a majority of the company's director seats or voting shares and those of anyother company are controlled by the same person: not a director, supervisor, oremployee of that other company. Not apply to independent directors appointed inaccordance with the Act or the laws and regulations of the local country by, andconcurrently serving as such at, a public company and its parent or subsidiary ora subsidiary of the same parent.
7. If the chairperson, general manager, or person holding an equivalent position ofthe company and a person in any of those positions at another company orinstitution are the same person or are spouses: not a director (or governor),supervisor, or employee of that other company or institution. Not apply toindependent directors appointed in accordance with the Act or the laws andregulations of the local country by, and concurrently serving as such at, a publiccompany and its parent or subsidiary or a subsidiary of the same parent.
8. Not a director, supervisor, officer, or shareholder holding five percent or more ofthe shares, of a specified company or institution that has a financial or businessrelationship with the company. Not apply to independent directors appointed inaccordance with the Act or the laws and regulations of the local country by, andconcurrently serving as such at, a public company and its parent or subsidiary ora subsidiary of the same parent, if the specified company or institution holds 20percent or more and no more than 50 percent of the total number of issued sharesof the public company.
9. Not a professional individual who, or an owner, partner, director, supervisor, orofficer of a sole proprietorship, partnership, company, or institution that, providesauditing services to the company or any affiliate of the company, or that providescommercial, legal, financial, accounting or related services to the company or anyaffiliate of the company for which the provider in the past 2 years has receivedcumulative compensation exceeding NT$500,000, or a spouse thereof; provided,this restriction does not apply to a member of the remuneration committee, publictender offer review committee, or special committee for merger/consolidation andacquisition, who exercises powers pursuant to the Act or to the Business Mergersand Acquisitions Act or related laws or regulations.
10. Not been a person of any conditions defined in Article 30 of the Company Law.
- 50 -
There are 3 members in the Remuneration Committee. A total of 2 (A) Remuneration Committee meetings were held in the previous period. The attendance record of the Remuneration Committee members was as follows:
Title Name Attendance in Person(B) By Proxy Attendance Rate
(%) /Remarks
Convener Yin Chi Chuang
2 0 100% Independent Director
Committee Member
Yong faShi
1 0 100% 2019.5.9Termination
Committee Member
Jun you Lin
2 0 100%
Committee Member
Jen Fa Chen
1 0 100% Independent Director
Other mentionable items: 1. If the board of directors declines to adopt or modifies a recommendation of the
remuneration committee, it should specify the date of the meeting, session, contentof the motion, resolution by the board of directors, and the Company’s response tothe remuneration committee’s opinion (eg., the remuneration passed by the Board ofDirectors exceeds the recommendation of the remuneration committee, thecircumstances and cause for the difference shall be specified): None.
2. Resolutions of the remuneration committee objected to by members or expressedreservations and recorded or declared in writing, the date of the meeting, session,content of the motion, all members’ opinions and the response to members’ opinionshould be specified: None.
B. Attendance of Members at Remuneration Committee Meetings
- 51 -
3.3.
5 Fu
lfillm
ent
of C
SR a
nd D
evia
tions
fro
m t
he "
Cor
pora
te S
ocia
l Res
pons
ibili
ty B
est
Prac
tice
Prin
cipl
es f
or T
WSE
/GT
SM L
iste
d C
ompa
nies
"
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te S
ocia
l R
espo
nsib
ility
Bes
t-Pr
actic
e Pr
inci
ples
for
TWSE
/TPE
x Li
sted
C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Exp
lana
tion 2
1.D
oes t
he c
ompa
ny a
sses
sES
G ri
sks a
ssoc
iate
d w
ithits
ope
ratio
ns b
ased
on
the
prin
cipl
e of
mat
eria
lity,
and
esta
blis
h re
late
d ris
km
anag
emen
t pol
icie
s or
stra
tegi
es?
3
Ever
est
is t
he o
nly
prof
essi
onal
clo
th f
acto
ry i
n Ta
iwan
tha
t ha
s ve
rtica
lly
inte
grat
ed lo
ng an
d sh
ort f
iber
s. Th
e com
pany
's m
issi
on st
atem
ent i
s "to
cont
ribut
e to
soc
iety
and
tran
sfor
m th
e w
orld
with
inno
vatio
n an
d su
stai
nabi
lity"
. Con
tinue
to
use
Cra
dle
to C
radl
e as
the
core
con
cept
, int
rodu
ce e
nviro
nmen
tal d
esig
n, w
ith
ecol
ogic
al d
esig
n, b
lue
proc
ess,
gree
n pr
oduc
ts, a
nd st
rive
to d
evel
op te
xtile
s tha
t ar
e ha
rmle
ss t
o hu
man
s an
d ec
olog
y to
red
uce
envi
ronm
enta
l im
pact
. Res
pect
hu
man
rig
hts,
impl
emen
t en
viro
nmen
tal
safe
ty a
nd s
anita
tion
man
agem
ent,
prov
ide
empl
oyee
s w
ith
ener
gy-s
avin
g,
envi
ronm
enta
lly-f
riend
ly
and
safe
w
orki
ng e
nviro
nmen
ts,
culti
vate
nat
ural
and
hea
lthy
livin
g ha
bits
, an
d th
en
prom
ote
them
to
com
mun
ities
, m
anuf
actu
rers
, an
d cu
stom
ers,
com
mitt
ed t
o cr
eatin
g a
sust
aina
ble
and
heal
thy
soci
al e
nviro
nmen
t for
hum
ans.
Non
e
2.D
oes t
he c
ompa
ny e
stab
lish
excl
usiv
ely
(or
conc
urre
ntly
) ded
icat
edfir
st-li
ne m
anag
ers
auth
oriz
ed b
y th
e bo
ard
tobe
in c
harg
e of
pro
posi
ngth
e co
rpor
ate
soci
alre
spon
sibi
lity
polic
ies a
ndre
porti
ng to
the
boar
d?
Set u
p th
e "E
SM G
loba
l Pro
mot
ion
Org
aniz
atio
n", u
se th
e ge
nera
l man
ager
's of
fice
as th
e se
cret
ary
unit,
com
bine
the
cutti
ng-e
dge
tech
nolo
gy re
sear
ch
inst
itute
with
the
R&
D d
epar
tmen
t, th
e fie
ld u
nit,
and
fully
coo
pera
te w
ith th
e en
viro
nmen
tal s
ecur
ity, m
arke
ting,
pub
lic u
tiliti
es, m
anag
emen
t dep
artm
ents
and
ex
tern
al c
ouns
elin
g co
nsul
tant
s to
cont
inue
to d
eepe
n th
e ov
eral
l The
fo
rmul
atio
n an
d pr
omot
ion
of c
ontin
ued
busi
ness
stra
tegi
es. R
epor
t the
resu
lts o
f C
SR im
plem
enta
tion
to se
nior
man
agem
ent r
egul
arly
eve
ry y
ear,
so th
at th
e pr
omot
ion
of C
SR g
radu
ally
bec
omes
the
core
val
ue o
f the
com
pany
.
Non
e
- 52 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te S
ocia
l R
espo
nsib
ility
Bes
t-Pr
actic
e Pr
inci
ples
for
TWSE
/TPE
x Li
sted
C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Exp
lana
tion 2
3.En
viro
nmen
tal i
ssue
s(1
)Doe
s the
com
pany
esta
blis
h pr
oper
envi
ronm
enta
lm
anag
emen
t sys
tem
sba
sed
on th
ech
arac
teris
tics o
f the
irin
dust
ries?
Bui
ld a
n IS
O 1
4001
env
ironm
enta
l man
agem
ent s
yste
m, s
et u
p en
viro
nmen
tal
safe
ty o
ffice
s and
env
ironm
enta
l man
agem
ent s
peci
alis
ts, f
orm
ulat
e en
viro
nmen
tal s
afet
y an
d he
alth
pol
icie
s, pr
omot
e an
d im
plem
ent e
nviro
nmen
tal
man
agem
ent r
elat
ed m
atte
rs, a
nd in
vite
third
-par
ty v
erifi
catio
n ag
enci
es fo
r ve
rific
atio
n ev
ery
year
.
Non
e
(2)D
oes t
he c
ompa
nyen
deav
or to
util
ize
all
reso
urce
s mor
e ef
ficie
ntly
and
use
rene
wab
lem
ater
ials
whi
ch h
ave
low
impa
ct o
n th
een
viro
nmen
t?
Prom
ote
gree
n lif
e 7R
(Ret
hink
, Red
esig
n, R
educ
e, R
euse
, Rep
air,
Rec
ycle
, R
ecov
ery)
, circ
ular
eco
nom
y, cl
eane
r pro
duct
ion,
ene
rgy
savi
ng a
nd w
aste
re
duct
ion
mea
sure
s to
impr
ove
reso
urce
pro
duct
ivity
(Les
s is M
ore)
; and
use
en
viro
nmen
tally
frie
ndly
Raw
mat
eria
ls a
nd d
yein
g ai
ds a
re d
edic
ated
to th
e de
velo
pmen
t of t
extil
es th
at a
re h
arm
less
to h
uman
s and
eco
logy
to re
duce
en
viro
nmen
tal i
mpa
ct. A
lso
obta
ined
the
"Cle
an P
rodu
ctio
n Ev
alua
tion
Syst
em
Cer
tific
ate"
and
"Gre
en F
acto
ry C
ertif
icat
ion
Mar
k".
Non
e
(3)
Doe
s the
com
pany
eval
uate
the
pote
ntia
lris
ks a
nd o
ppor
tuni
ties i
ncl
imat
e ch
ange
with
rega
rd to
the
pres
ent a
ndfu
ture
of i
ts b
usin
ess,
and
take
app
ropr
iate
act
ion
toco
unte
r clim
ate
chan
geis
sues
?
1.C
ondu
ct a
nnua
l gre
enho
use
gas
inve
ntor
y, c
ontin
uous
ly tr
ack
gree
nhou
se g
as
emis
sion
s and
sour
ces,
and
prio
ritiz
e th
e as
sess
men
t of g
reen
hous
e ga
s re
duct
ion
base
d on
the
inve
ntor
y re
sults
. Cre
ate
a gr
een
ecol
ogic
al in
dust
rial p
ark,
pla
nt
nativ
e pl
ants
in th
e pl
ant a
rea,
redu
ce c
arbo
n ab
sorp
tion
and
redu
ce th
e he
at is
land
ef
fect
in th
e pl
ant a
rea.
2.Ev
eres
t an
d its
pro
duct
ion
base
s ha
ve f
orm
ulat
ed a
ppro
pria
te m
anag
emen
t m
echa
nism
s in
resp
onse
to th
e re
quire
men
ts o
f loc
al g
over
nmen
ts fo
r gre
enho
use
gas m
anag
emen
t (su
ch a
s the
car
bon
tradi
ng m
echa
nism
in S
hang
hai).
The
ene
rgy
team
mem
bers
of e
ach
plan
t will
dis
cuss
, for
mul
ate,
and
impl
emen
t man
agem
ent
Non
e
- 53 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te S
ocia
l R
espo
nsib
ility
Bes
t-Pr
actic
e Pr
inci
ples
for
TWSE
/TPE
x Li
sted
C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Exp
lana
tion 2
polic
ies
and
revi
ew p
erfo
rman
ce w
ith r
elev
ant
units
with
in t
he p
lant
, suc
h as
: ho
ldin
g an
ene
rgy
mon
thly
mee
ting
to re
view
ene
rgy
cons
umpt
ion
stat
us, e
nerg
y co
nser
vatio
n go
als,
and
impl
emen
tatio
n of
ene
rgy
cons
erva
tion
and
carb
on
redu
ctio
n pr
ojec
ts.
(4)D
oes t
he c
ompa
ny ta
kein
vent
ory
of it
sgr
eenh
ouse
gas
emis
sion
s, w
ater
cons
umpt
ion,
and
tota
lw
eigh
t of w
aste
in th
ela
st tw
o ye
ars,
and
impl
emen
t pol
icie
s on
ener
gy e
ffici
ency
and
carb
on d
ioxi
de re
duct
ion,
gr
eenh
ouse
gas
redu
ctio
n, w
ater
redu
ctio
n, o
r was
tem
anag
emen
t?
The
com
pany
's pr
oduc
tion
plan
t and
pro
duct
ion
base
s of s
ubsi
diar
ies a
t hom
e an
d ab
road
in 2
018
and
2019
hav
e a
tota
l gre
enho
use
gas e
mis
sion
s of 1
,894
kt-
CO
2e a
nd 1
,809
kt-C
O2e
, res
pect
ivel
y.
The
prod
uctio
n ba
ses
for t
he 2
018
emis
sion
dat
a ve
rific
atio
n of
ISO
1406
4-1
and
othe
r inv
ento
ry s
tand
ards
incl
ude:
Eve
rest
(Tai
wan
), Ev
eres
t (Sh
angh
ai),
Ever
est
(Tha
iland
). Th
e pr
oduc
tion
base
s th
at c
ompl
eted
the
verif
icat
ion
of IS
O14
064-
1 an
d ot
her
inve
ntor
y st
anda
rds
in 1
08 e
mis
sion
dat
a in
clud
e: E
vere
st (
Taiw
an),
Ever
est (
Shan
ghai
), Ev
eres
t (Th
aila
nd).
To su
ppor
t the
dev
elop
men
t of r
enew
able
en
ergy
in T
aiw
an, t
he c
ompa
ny, S
hang
hai a
nd T
haila
nd h
ave
inst
alle
d so
lar p
anel
s at
thre
e pr
oduc
tion
site
s, w
hich
will
be
offic
ially
laun
ched
in 2
019.
In
orde
r to
gr
adua
lly r
educ
e en
ergy
use
and
thu
s sl
ow d
own
glob
al c
limat
e ch
ange
, th
e co
mpa
ny c
ontin
ued
to p
rom
ote
vario
us e
nerg
y-sa
ving
and
car
bon-
redu
ctio
n m
easu
res.
In 1
998,
a to
tal o
f 15
ener
gy-s
avin
g an
d ca
rbon
-red
uctio
n pr
ojec
ts w
ere
impl
emen
ted
to a
void
89,
195t
-CO
2e e
mis
sion
s.
Non
e
4. S
ocia
l iss
ues
(1)D
oes t
he c
ompa
nyfo
rmul
ate
appr
opria
tem
anag
emen
t pol
icie
s and
proc
edur
es a
ccor
ding
tore
leva
nt re
gula
tions
and
the
Inte
rnat
iona
l Bill
of
Hum
an R
ight
s?
The
com
pany
com
plie
s with
var
ious
labo
r law
s and
inte
rnat
iona
l hum
an ri
ghts
co
nven
tions
, and
form
ulat
es a
nd a
djus
ts th
e in
tern
al m
anag
emen
t sys
tem
ac
cord
ingl
y, a
nd g
uara
ntee
s the
em
ploy
men
t pol
icy
with
out g
ende
r, ra
ce, a
ge,
mar
riage
and
fam
ily st
atus
and
oth
er d
iffer
entia
l tre
atm
ent,
and
impl
emen
ts
rem
uner
atio
n an
d em
ploy
men
t con
ditio
ns ,
Equa
lizat
ion
of tr
aini
ng a
nd
prom
otio
n op
portu
nitie
s, an
d co
ntin
ue to
trac
k th
e de
velo
pmen
t of l
aws a
nd
regu
latio
ns to
pro
tect
the
legi
timat
e rig
hts a
nd in
tere
sts o
f em
ploy
ees.
Non
e
- 54 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te S
ocia
l R
espo
nsib
ility
Bes
t-Pr
actic
e Pr
inci
ples
for
TWSE
/TPE
x Li
sted
C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Exp
lana
tion 2
(2)D
oes t
he c
ompa
ny h
ave
reas
onab
le e
mpl
oyee
bene
fit m
easu
res
(incl
udin
g sa
larie
s, le
ave,
and
othe
r ben
efits
), an
ddo
bus
ines
s per
form
ance
or re
sults
refle
ct o
nem
ploy
ee sa
larie
s?
The
com
pany
has
form
ulat
ed a
nd im
plem
ente
d re
ason
able
em
ploy
ee w
elfa
re
mea
sure
s, an
d ap
prop
riate
ly re
flect
ed th
e op
erat
ing
perf
orm
ance
or r
esul
ts in
em
ploy
ee c
ompe
nsat
ion
1.Va
catio
n sy
stem
: It i
s und
erst
ood
that
a p
erfe
ct v
acat
ion
syst
em is
impl
emen
ted
in a
ccor
danc
e w
ith th
e pr
ovis
ions
of t
he L
abor
Law
, and
it is
incl
uded
in th
e "W
orki
ng R
ules
" and
ann
ounc
ed b
y co
lleag
ues.
2.Va
rious
wel
fare
mea
sure
s: A
ccor
ding
to th
e pr
ovis
ions
of t
he la
w a
nd ta
king
into
acc
ount
the
need
s of e
mpl
oyee
s, to
des
ign
the
bene
fits t
hat e
mpl
oyee
s can
enjo
y, in
clud
ing
empl
oyee
dor
mito
ry, p
arki
ng lo
t, fe
edin
g (c
olle
ctio
n) m
ilkro
om, i
nexp
ensi
ve fo
od a
nd b
ever
age,
han
dlin
g em
ploy
ee h
ealth
che
ck, e
tc. T
oen
able
em
ploy
ees t
o en
joy
a co
mpl
ete
wel
fare
syst
em (e
g m
arria
ge a
llow
ance
,ed
ucat
ion
allo
wan
ce fo
r chi
ldre
n, p
ensi
ons f
or re
tiree
s, fu
nera
l allo
wan
ce,
mat
erni
ty a
llow
ance
, mat
erni
ty le
ave,
chi
ldca
re le
ave,
pat
erni
ty le
ave,
etc
.).3.
Empl
oyee
com
pens
atio
n po
licy:
bas
ed o
n in
divi
dual
abi
lity,
con
tribu
tion
to th
e co
mpa
ny, p
erfo
rman
ce, m
arke
t val
ue o
f pos
ition
s hel
d by
the
com
pany
, and
afte
rco
nsid
erin
g th
e co
mpa
ny's
futu
re o
pera
ting
risks
, it i
s pos
itive
ly re
late
d to
oper
atin
g pe
rfor
man
ce. T
he o
vera
ll re
mun
erat
ion
pack
age
mai
nly
incl
udes
thre
epa
rts: b
asic
fixe
d sa
lary
, bon
us a
nd b
enef
its; w
hile
the
paym
ent s
tand
ard,
bas
icfix
ed sa
lary
is b
ased
on
the
mar
ket s
ituat
ion
of th
e po
sitio
n he
ld b
y th
eem
ploy
ee, a
nd th
e bo
nus i
s to
link
the
achi
evem
ent o
f the
em
ploy
ee a
ndde
partm
ent g
oals
and
the
com
pany
’s B
usin
ess p
erfo
rman
ce.
4.R
etire
men
t sys
tem
:Th
e co
mpa
ny fu
lly c
ompl
ies w
ith th
e pr
ovis
ions
of t
he L
abor
Sta
ndar
ds L
aw a
nd
the
Labo
r Pen
sion
Reg
ulat
ions
, and
form
ulat
es re
leva
nt s
yste
m m
easu
res
for t
he
retir
emen
t of e
mpl
oyee
s, in
clud
ing
thos
e w
ho h
ave
wor
ked
for m
ore
than
15
year
s an
d ha
ve re
ache
d th
e ag
e of
55,
thos
e w
ho h
ave
wor
ked
for m
ore
than
25
year
s an
d th
ose
who
hav
e w
orke
d fo
r mor
e th
an 1
0 ye
ars T
hose
who
are
ove
r 60
year
s
Non
e
- 55 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te S
ocia
l R
espo
nsib
ility
Bes
t-Pr
actic
e Pr
inci
ples
for
TWSE
/TPE
x Li
sted
C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Exp
lana
tion 2
old
can
ask
for r
etire
men
t, an
d pa
y a
labo
r pe
nsio
n of
not
less
than
6%
of t
heir
mon
thly
sal
ary
acco
rdin
g to
the
empl
oyee
's in
sura
nce
leve
l, an
d se
t up
a La
bor
Ret
irem
ent R
eser
ve S
uper
visi
on C
omm
ittee
to s
uper
vise
the
impl
emen
tatio
n an
d pa
ymen
t of p
ensi
ons.
Rel
ated
Bus
ines
s. (3
)Doe
s the
com
pany
prov
ide
a he
alth
y an
dsa
fe w
orki
ngen
viro
nmen
t and
org
aniz
e tra
inin
g on
hea
lth a
ndsa
fety
for i
ts e
mpl
oyee
son
a re
gula
r bas
is?
In o
rder
to c
reat
e a
win
-win
safe
wor
king
env
ironm
ent,
the
com
pany
has
in
trodu
ced
the
ISO
450
01 o
ccup
atio
nal s
afet
y an
d he
alth
man
agem
ent s
yste
m,
and
set u
p a
safe
ty a
nd h
ealth
com
mitt
ee a
nd a
dopt
ed th
e fo
llow
ing
mea
sure
s:
W
orki
ng e
nviro
nmen
t mai
nten
ance
: Fro
m th
e pr
ocur
emen
t of m
achi
nery
an
d m
ater
ials
, stri
ct sa
fety
and
hea
lth st
anda
rds a
re re
quire
d, a
nd st
rict
supe
rvis
ion
is a
lso
appl
ied
whe
n in
stal
ling
mac
hine
ry; v
ario
us o
pera
ting
envi
ronm
ent m
easu
rem
ents
are
regu
larly
car
ried
out a
ccor
ding
to la
w, a
nd if
it
does
not
mee
t the
stan
dard
, it i
s im
med
iate
ly e
limin
ated
or i
mpr
oved
, And
set u
p ap
prop
riate
pro
tect
ive
equi
pmen
t dep
endi
ng o
n th
e ris
k fa
ctor
s in
the
wor
kpla
ce.
E
mpl
oyee
hea
lth m
aint
enan
ce: I
n ad
ditio
n to
coo
pera
ting
with
the
gove
rnm
ent t
o co
nduc
t occ
upat
iona
l dis
aste
r hea
lth in
spec
tions
, reg
ular
hea
lth
insp
ectio
ns a
re a
rran
ged
for e
mpl
oyee
s, de
pend
ing
on th
e re
sults
, the
y co
oper
ate
with
hos
pita
ls w
ithin
the
grou
p to
con
duct
hea
lth m
anag
emen
t; ea
ch fa
ctor
y is
al
so e
quip
ped
with
med
icin
es, h
ygie
nic
mat
eria
ls, s
impl
e m
edic
al e
quip
men
t, et
c. S
et u
p re
gula
r ser
vice
s for
con
tract
ed p
hysi
cian
s and
nur
sing
staf
f. In
corp
orat
e re
leva
nt re
quire
men
ts in
to d
aily
ope
ratio
ns a
nd im
prov
e oc
cupa
tiona
l saf
ety
and
heal
th p
erfo
rman
ce th
roug
h da
ily e
mpl
oyee
edu
catio
n
Non
e
(4)D
oes t
he c
ompa
nypr
ovid
e its
em
ploy
ees
with
car
eer d
evel
opm
ent
and
train
ing
sess
ions
?
The
com
pany
atta
ches
gre
at im
porta
nce
to th
e ed
ucat
ion
and
train
ing
of
empl
oyee
s and
car
eer d
evel
opm
ent.
In a
dditi
on to
pro
vidi
ng e
mpl
oyee
s with
m
anag
emen
t ski
lls su
ch a
s ent
erpr
ise
man
agem
ent a
nd fa
ctor
y m
anag
emen
t, in
or
der t
o st
reng
then
tale
nt c
ultiv
atio
n an
d su
perv
isor
trai
ning
, pla
n sy
stem
atic
and
co
ntin
uous
cur
ricul
um tr
aini
ng to
hel
p en
hanc
e em
ploy
ees A
bilit
y an
d qu
ality
to
enha
nce
the
com
petit
iven
ess o
f ind
ivid
uals
and
ent
erpr
ises
.
Non
e
- 56 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te S
ocia
l R
espo
nsib
ility
Bes
t-Pr
actic
e Pr
inci
ples
for
TWSE
/TPE
x Li
sted
C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Exp
lana
tion 2
(5)D
o th
e co
mpa
ny's
prod
ucts
and
serv
ices
com
ply
with
rele
vant
law
s and
inte
rnat
iona
lst
anda
rds i
n re
latio
n to
cust
omer
hea
lth a
ndsa
fety
, cus
tom
er p
rivac
y,an
d m
arke
ting
and
labe
ling
of p
rodu
cts a
ndse
rvic
es, a
nd a
re re
leva
ntco
nsum
er p
rote
ctio
n an
dgr
ieva
nce
proc
edur
epo
licie
s im
plem
ente
d?
Ever
est b
uild
s a p
rofe
ssio
nal t
eam
to se
rve
glob
al c
usto
mer
s. Th
roug
h re
gula
r vi
sits
to c
usto
mer
s and
bra
nds,
parti
cipa
tion
in d
omes
tic a
nd fo
reig
n ex
hibi
tions
an
d ot
her c
omm
unic
atio
n ch
anne
ls, i
t res
pond
s to
and
mee
ts th
e ne
eds o
f cu
stom
ers w
ith a
n "i
nsta
nt",
"pro
fess
iona
l", a
nd "
appr
opria
te" a
ttitu
de. .
At t
he
sam
e tim
e, in
ord
er to
und
erst
and
cust
omer
opi
nion
s and
impr
ove
serv
ice
qual
ity,
a cu
stom
er sa
tisfa
ctio
n su
rvey
is c
arrie
d ou
t eve
ry y
ear,
and
a "c
usto
mer
co
mpl
aint
han
dlin
g m
etho
d" is
set u
p to
dea
l with
cus
tom
er c
ompl
aint
s. Im
prov
emen
t pla
ns m
ade
for p
roje
cts t
hat a
re n
ot sa
tisfa
ctor
y to
cus
tom
ers a
re
orga
nize
d an
d or
gani
zed
by e
nter
pris
e em
ploy
ees t
o im
plem
ent T
o ac
hiev
e cu
stom
er sa
tisfa
ctio
n.
Non
e
(6)D
oes t
he c
ompa
nyim
plem
ent s
uppl
ier
man
agem
ent p
olic
ies,
requ
iring
supp
liers
toob
serv
e re
leva
ntre
gula
tions
on
envi
ronm
enta
l pro
tect
ion,
occu
patio
nal h
ealth
and
safe
ty, o
r lab
or a
ndhu
man
righ
ts?
If so
,de
scrib
e th
e re
sults
.
Bef
ore
join
ing,
new
sup
plie
rs w
ill b
e ev
alua
ted
acco
rdin
g to
the
"Su
pplie
r Ev
alua
tion
Form
". In
the
eval
uatio
n m
echa
nism
, the
supp
lier ’
s wor
k en
viro
nmen
t, em
ploy
ee h
uman
rig
hts,
soci
al r
espo
nsib
ility
and
oth
er e
valu
atio
n ite
ms
will
be
adde
d to
enh
ance
the
sup
plie
r’s
corp
orat
e so
cial
res
pons
ibili
ty a
war
enes
s. Th
e "E
vere
st S
ocia
l Res
pons
ibili
ty S
tand
ard
Stat
emen
t" w
as is
sued
, pro
clai
min
g to
su
pplie
rs a
nd re
quiri
ng su
pplie
rs to
join
tly a
bide
by
soci
al re
spon
sibi
lity
norm
s. N
one
- 57 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te S
ocia
l R
espo
nsib
ility
Bes
t-Pr
actic
e Pr
inci
ples
for
TWSE
/TPE
x Li
sted
C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Exp
lana
tion 2
5. D
oes t
he c
ompa
nyre
fere
nce
inte
rnat
iona
llyac
cept
ed re
porti
ngst
anda
rds o
r gui
delin
es,
and
prep
are
repo
rts th
atdi
sclo
se n
on-f
inan
cial
info
rmat
ion
of th
eco
mpa
ny, s
uch
asco
rpor
ate
soci
alre
spon
sibi
lity
repo
rts?
Do
the
repo
rts a
bove
obta
in a
ssur
ance
from
ath
ird p
arty
ver
ifica
tion
unit?
Ever
est i
s goo
d at
fulfi
lling
its c
orpo
rate
soci
al re
spon
sibi
litie
s. Si
nce
2011
, it
has v
olun
taril
y di
sclo
sed
sust
aina
ble
perf
orm
ance
. It h
as is
sued
a c
orpo
rate
so
cial
resp
onsi
bilit
y re
port
ever
y ye
ar a
nd c
ontin
ues t
o co
mm
unic
ate
with
st
akeh
olde
rs. T
he c
onte
nt o
f Eve
rest
's 20
18 C
orpo
rate
Soc
ial R
espo
nsib
ility
R
epor
t is w
ritte
n in
acc
orda
nce
with
the
core
opt
ions
of t
he G
RI S
tand
ards
is
sued
by
the
Glo
bal R
epor
ting
Initi
ativ
e (G
RI),
and
als
o re
fers
to th
e "C
ompi
led
and
Dec
lare
d C
ompa
nies
of L
iste
d C
ompa
nies
" by
the
Taiw
an S
tock
Exc
hang
e "S
ocia
l Res
pons
ibili
ty R
epor
t Ope
ratio
n M
easu
res"
, com
pilin
g th
e pr
evio
us
year
's co
rpor
ate
soci
al re
spon
sibi
lity
repo
rt, e
xpos
ing
the
com
pany
's id
entif
ied
econ
omic
, env
ironm
enta
l and
soci
al su
stai
nabi
lity
them
es, r
elat
ed st
rate
gies
, go
als a
nd m
easu
res a
nd re
sults
, the
CSR
repo
rt ed
iting
team
is re
spon
sibl
e Afte
r th
e ov
eral
l pla
nnin
g, c
omm
unic
atio
n an
d in
tegr
atio
n, d
ata
aggr
egat
ion,
and
ed
iting
and
revi
sion
, eac
h ed
itor m
embe
r rev
iew
s and
revi
ses t
he re
leva
nt c
onte
nt
and
data
and
send
s it t
o th
e ge
nera
l man
ager
for r
evie
w a
nd re
leas
e. T
his r
epor
t ha
s not
bee
n ve
rifie
d by
ext
erna
l thi
rd p
artie
s.
Non
e
6.D
escr
ibe
the
diffe
renc
e, if
any
, bet
wee
n ac
tual
pra
ctic
e an
d th
e co
rpor
ate
soci
al r
espo
nsib
ility
prin
cipl
es, i
f th
e co
mpa
ny h
as im
plem
ente
d su
ch
prin
cipl
es b
ased
on
the
Cor
pora
te S
ocia
l Res
pons
ibili
ty B
est P
ract
ice
Prin
cipl
es fo
r TW
SE/T
PEx
List
ed C
ompa
nies
:
The
com
pany
ref
ers
to th
e "C
ode
of P
ract
ice
for
Cor
pora
te S
ocia
l Res
pons
ibili
ty o
f Li
sted
Com
pani
es"
to f
orm
ulat
e co
rpor
ate
soci
al r
espo
nsib
ility
po
licie
s, im
plem
ent i
nfor
mat
ion
that
pro
mot
es c
orpo
rate
gov
erna
nce,
dev
elop
s a su
stai
nabl
e en
viro
nmen
t, sa
fegu
ards
soci
al w
elfa
re, a
nd st
reng
then
s co
rpor
ate
soci
al re
spon
sibi
lity.
Cha
ritab
le o
rgan
izat
ions
and
loca
l gov
ernm
ent a
genc
ies h
ave
spar
ed n
o ef
fort.
So
far,
ther
e ar
e no
diff
eren
ces.
7.
Oth
er u
sefu
l inf
orm
atio
n fo
r exp
lain
ing
the
stat
us o
f cor
pora
te so
cial
resp
onsi
bilit
y pr
actic
es:
(1)E
nviro
nmen
tal p
rote
ctio
n: P
ursu
e en
viro
nmen
tal s
usta
inab
ility
with
eco
logi
cal r
esto
ratio
n an
d re
spec
t for
bio
dive
rsity
, bui
ld E
vere
st E
colo
gica
lIn
dust
rial P
ark
and
Ever
est N
atur
al V
eget
able
and
Fru
it Ed
ucat
ion
Farm
with
the
conc
ept o
f gre
en b
uild
ing,
and
ext
end
it to
loca
l com
mun
ities
,ho
ping
to b
ecom
e Th
e ed
ucat
ion
park
for s
usta
inab
le a
gric
ultu
re is
ded
icat
ed to
redu
cing
glo
bal w
arm
ing.
(2)O
pen
the
visi
t and
exc
hang
e of
Eve
rest
Tex
tile
Eco-
Indu
stria
l Par
k: In
ord
er to
shar
e Ev
eres
t's in
nova
tive,
sust
aina
ble,
inte
llige
nt, a
nd su
ccin
ct
- 58 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1
Dev
iatio
ns fr
om “
the
Cor
pora
te S
ocia
l R
espo
nsib
ility
Bes
t-Pr
actic
e Pr
inci
ples
for
TWSE
/TPE
x Li
sted
C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Exp
lana
tion 2
actio
ns a
nd a
chie
vem
ents
, Eve
rest
Ope
n Ec
o-In
dust
rial P
ark
is o
pen
to v
isito
rs; a
t the
sam
e tim
e, it
als
o op
ens n
atur
al v
eget
able
and
frui
t edu
catio
n fa
rms a
nd e
nviro
nmen
tal p
rote
ctio
n Th
e m
anuf
actu
ring
proc
ess o
f bric
k fa
ctor
y an
d M
IT a
utom
ated
gar
men
t fac
tory
is fo
r vis
iting
. I lo
ok fo
rwar
d to
taki
ng th
is e
xper
ienc
e as
a c
omm
unic
atio
n pl
atfo
rm fo
r ind
ustry
and
env
ironm
enta
l edu
catio
n to
pro
mot
e th
e tri
ple
surp
lus c
once
pt o
f su
stai
nabi
lity;
and
allo
w v
isito
rs to
witn
ess t
he tr
ansf
orm
atio
n an
d in
nova
tion,
sust
aina
bilit
y, a
nd sm
art g
reen
fact
orie
s of t
he T
aiw
anes
e te
xtile
in
dust
ry.
(3)T
he se
lf-ow
ned
appa
rel b
rand
"Hap
py T
aiw
an E
verS
mile
" will
allo
cate
1%
of t
he m
onth
ly tu
rnov
er a
s a p
ublic
wel
fare
fund
.N
ote:
1.
If
"Yes
" is
che
cked
und
er im
plem
enta
tion,
ple
ase
desc
ribe
the
key
polic
ies,
stra
tegi
es, a
nd m
easu
res
and
resu
lts a
dopt
ed. I
f "N
o" is
ch
ecke
d un
der i
mpl
emen
tatio
n, p
leas
e gi
ve re
ason
s and
des
crib
e re
leva
nt st
rate
gies
and
mea
sure
s to
be a
dopt
ed in
the
futu
re.
2.C
ompa
nies
who
hav
e co
mpi
led
CSR
repo
rts m
ay c
ite th
e so
urce
from
spec
ific
page
s of t
heir
CSR
repo
rts in
stea
d.3.
The
mat
eria
lity
prin
cipl
e re
fers
to e
nviro
nmen
tal,
soci
al, o
r cor
pora
te g
over
nanc
e is
sues
that
hav
e a
mat
eria
l im
pact
on
the
inve
stor
s or
othe
r sta
keho
lder
s of t
he c
ompa
ny.
- 59 -
3.3.
6 Fu
lfillm
ent o
f Eth
ical
Cor
pora
te M
anag
emen
t and
Dev
iatio
ns fr
om th
e "E
thic
al C
orpo
rate
Man
agem
ent B
est P
ract
ice
Prin
cipl
es
for T
WSE
/GT
SM L
iste
d C
ompa
nies
"
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1 D
evia
tions
from
the
“E
thic
al C
orpo
rate
M
anag
emen
t Bes
t Pr
actic
e Pr
inci
ples
for
TWSE
/GTS
M L
iste
d C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Illu
stra
tion
1.Es
tabl
ishm
ent o
f eth
ical
cor
pora
te m
anag
emen
tpo
licie
s and
pro
gram
s(1
)D
oes t
he c
ompa
ny h
ave
a B
oard
-app
rove
det
hica
l cor
pora
te m
anag
emen
t pol
icy
and
stat
ed in
its r
egul
atio
ns a
nd e
xter
nal
corre
spon
denc
e th
e et
hica
l cor
pora
tem
anag
emen
t pol
icy
and
prac
tices
, as w
ell a
sth
e ac
tive
com
mitm
ent o
f the
Boa
rd o
fD
irect
ors a
nd m
anag
emen
t tow
ards
enfo
rcem
ent o
f suc
h po
licy?
(2)
Doe
s the
com
pany
hav
e m
echa
nism
s in
plac
eto
ass
ess t
he ri
sk o
f une
thic
al c
ondu
ct, a
ndpe
rfor
m re
gula
r ana
lysi
s and
ass
essm
ent o
fbu
sine
ss a
ctiv
ities
with
hig
her r
isk
ofun
ethi
cal c
ondu
ct w
ithin
the
scop
e of
The
com
pan y
has
a "C
ode
of In
tegr
ity
Man
agem
ent"
whi
ch re
gula
tes t
he c
ode
of c
ondu
ct
of d
irect
ors,
man
ager
s and
oth
er e
mpl
oyee
s of t
he
com
pany
, and
exp
oses
the
inte
grity
man
agem
ent
polic
y on
the
com
pany
's w
ebsi
te.
The
com
pan y
and
its s
ubsi
diar
ies'
plan
s to
prev
ent
dish
ones
ty in
clud
e th
e fo
llow
ing:
1.
The
crite
ria fo
r pro
vidi
ng o
r acc
eptin
gun
just
ified
ben
efits
.2.
Prov
ide
proc
edur
es fo
r pro
cess
ing
lega
l pol
itica
l
Non
e
- 60 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1 D
evia
tions
from
the
“E
thic
al C
orpo
rate
M
anag
emen
t Bes
t Pr
actic
e Pr
inci
ples
for
TWSE
/GTS
M L
iste
d C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Illu
stra
tion
busi
ness
? D
oes t
he c
ompa
ny im
plem
ent
prog
ram
s to
prev
ent u
neth
ical
con
duct
bas
ed
on th
e ab
ove
and
ensu
re th
e pr
ogra
ms c
over
at
leas
t the
mat
ters
des
crib
ed in
Par
agra
ph 2
, A
rticl
e 7
of th
e Et
hica
l Cor
pora
te
Man
agem
ent B
est P
ract
ice
Prin
cipl
es fo
r TW
SE/T
PEx
List
ed C
ompa
nies
?
(3)
Doe
s the
com
pany
pro
vide
cle
arly
the
oper
atin
g pr
oced
ures
, cod
e of
con
duct
,di
scip
linar
y ac
tions
, and
app
eal p
roce
dure
s in
cont
ribut
ions
. 3.
To p
rovi
de p
rope
r cha
ritab
le d
onat
ion
orsp
onso
rshi
p pr
oced
ures
and
am
ount
stan
dard
s.4.
Prov
isio
ns to
avo
id c
onfli
cts o
f int
eres
t rel
ated
to d
utie
s, an
d th
eir d
ecla
ratio
n an
d ha
ndlin
gpr
oced
ures
.5.
Con
fiden
tialit
y re
quire
men
ts fo
r con
fiden
tial
and
com
mer
cial
ly se
nsiti
ve in
form
atio
n ob
tain
edfr
om b
usin
ess.
6.St
anda
rdiz
atio
n an
d pr
oces
sing
pro
cedu
res f
orsu
pplie
rs, c
usto
mer
s and
bus
ines
s tra
nsac
tion
partn
ers i
nvol
ved
in d
isho
nest
beh
avio
rs.
7.Th
e pr
oces
s of f
indi
ng v
iola
tions
of t
heco
mpa
ny's
inte
grity
man
agem
ent c
ode.
8.D
isci
plin
ary
actio
n ta
ken
agai
nst t
he o
ffend
er.
The
com
pany
's "I
nteg
rity
Man
agem
ent C
ode"
cl
early
stat
es th
at in
the
cour
se o
f eng
agin
g in
co
mm
erci
al a
ctiv
ities
, the
per
sonn
el o
f the
- 61 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1 D
evia
tions
from
the
“E
thic
al C
orpo
rate
M
anag
emen
t Bes
t Pr
actic
e Pr
inci
ples
for
TWSE
/GTS
M L
iste
d C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Illu
stra
tion
the
prog
ram
s aga
inst
une
thic
al c
ondu
ct?
Doe
s th
e co
mpa
ny e
nfor
ce th
e pr
ogra
ms a
bove
ef
fect
ivel
y an
d pe
rform
regu
lar r
evie
ws a
nd
amen
dmen
ts?
com
pany
shal
l not
dire
ctly
or i
ndire
ctly
pro
vide
s, pr
omis
e, re
ques
t or a
ccep
t any
impr
oper
ben
efits
, or
mak
e ot
her v
iola
tions
of i
nteg
rity,
law
less
ness
or
bre
ach
of fi
duci
ary
dutie
s. A
ct in
goo
d fa
ith, a
nd
clea
rly d
efin
e its
ope
ratin
g pr
oced
ures
, beh
avio
r gu
idel
ines
, dis
cipl
ine
and
appe
als.
2.Fu
lfill
oper
atio
ns in
tegr
ity p
olic
y(1
)D
oes t
he c
ompa
ny e
valu
ate
busi
ness
par
tner
s’et
hica
l rec
ords
and
incl
ude
ethi
cs-r
elat
ed c
laus
esin
bus
ines
s con
tract
s?
(2)
Doe
s the
com
pany
hav
e a
unit
resp
onsi
ble
for
ethi
cal c
orpo
rate
man
agem
ent o
n a
full-
time
basi
s und
er th
e B
oard
of D
irect
ors w
hich
repo
rts th
e et
hica
l cor
pora
te m
anag
emen
t
The
com
pany
's "I
nteg
rity
Man
agem
ent C
ode"
cl
early
stat
es th
at th
e co
mpa
ny w
ill c
onsi
der t
he
lega
lity
of a
gent
s, su
pplie
rs, c
usto
mer
s or o
ther
bu
sine
ss tr
ansa
ctio
ns a
nd w
heth
er th
ere
is a
reco
rd
of d
isho
nest
beh
avio
r bef
ore
com
mer
cial
tra
nsac
tions
, and
avo
id h
avin
g a
reco
rd o
f di
shon
esty
trad
ers.
Acc
ordi
ng to
Arti
cle
17 o
f the
Com
pany
's C
ode
of
Inte
grity
Man
agem
ent,
the
Cor
pora
te G
over
nanc
e Su
perv
isor
and
Hum
an R
esou
rces
Dep
artm
ent
unde
r the
Boa
rd o
f Dire
ctor
s are
ded
icat
ed to
the
Non
e
- 62 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1 D
evia
tions
from
the
“E
thic
al C
orpo
rate
M
anag
emen
t Bes
t Pr
actic
e Pr
inci
ples
for
TWSE
/GTS
M L
iste
d C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Illu
stra
tion
polic
y an
d pr
ogra
ms a
gain
st u
neth
ical
con
duct
re
gula
rly (a
t lea
st o
nce
a ye
ar) t
o th
e B
oard
of
Dire
ctor
s whi
le o
vers
eein
g su
ch o
pera
tions
?
prom
otio
n an
d op
erat
ion
of c
orpo
rate
inte
grity
m
anag
emen
t. Th
ey a
re re
spon
sibl
e fo
r the
fo
rmul
atio
n an
d su
perv
isio
n of
the
inte
grity
m
anag
emen
t pol
icy
and
prev
entio
n pl
an, a
nd a
re
supe
rvis
ed b
y th
e bo
ard
of d
irect
ors.
The
mai
n fu
nctio
ns a
re re
late
d to
the
anti-
corr
uptio
n m
easu
res t
o en
sure
inte
grity
man
agem
ent i
n ac
cord
ance
with
the
"Cod
e of
Inte
grity
M
anag
emen
t" a
ppro
ved
by th
e B
oard
of D
irect
ors,
form
ulat
e pl
ans t
o pr
even
t dis
hone
sty,
pla
n in
tern
al
orga
niza
tion,
pre
para
tion
and
func
tions
, red
uce
the
risk
of b
usin
ess d
isho
nest
y, a
nd p
rom
ote
the
train
ing
of in
tegr
ity p
olic
y pr
omot
ion
, Pla
n an
d im
plem
ent t
he w
hist
lebl
owin
g sy
stem
, and
ass
ist
the
boar
d of
dire
ctor
s and
man
agem
ent t
o ev
alua
te
the
impl
emen
tatio
n, a
nd re
port
to th
e bo
ard
of
dire
ctor
s onc
e a
year
.
- 63 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1 D
evia
tions
from
the
“E
thic
al C
orpo
rate
M
anag
emen
t Bes
t Pr
actic
e Pr
inci
ples
for
TWSE
/GTS
M L
iste
d C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Illu
stra
tion
(3)
Doe
s the
com
pany
est
ablis
h po
licie
s to
prev
ent c
onfli
cts o
f int
eres
t and
pro
vide
appr
opria
te c
omm
unic
atio
n ch
anne
ls, a
ndim
plem
ent i
t?
(4)
Doe
s the
com
pany
hav
e ef
fect
ive
acco
untin
gan
d in
tern
al c
ontro
l sys
tem
s in
plac
e to
impl
emen
t eth
ical
cor
pora
te m
anag
emen
t?
1.Th
e op
erat
ion
of th
e co
mpa
ny a
dher
es to
the
prin
cipl
e of
zer
o m
alpr
actic
e. If
any
per
son
take
sad
vant
age
of h
is p
ositi
on, h
e in
tend
s to
seek
his
or
othe
rs' i
mpr
oper
ben
efits
, cau
sing
the
com
pany
tosu
ffer l
osse
s. In
add
ition
to b
eing
dis
mis
sed
from
his p
ost,
he sh
all u
ncon
ditio
nally
com
pens
ate
the
com
pany
for t
he d
amag
es h
e su
ffere
d. A
ll lo
sses
.2.
If th
e co
mpa
ny's
pers
onne
l vio
late
s the
inte
grity
man
agem
ent r
egul
atio
ns, t
he c
ompa
ny w
ill p
unis
hit
acco
rdin
g to
the
seve
rity
of th
e ci
rcum
stan
ces
and
in a
ccor
danc
e w
ith th
e co
mpa
ny's
rew
ard
and
puni
shm
ent m
etho
ds.
3.Th
e co
mpa
ny h
as a
grie
vanc
e sy
stem
to p
rovi
dere
med
ies f
or th
ose
who
vio
late
this
Cod
e in
acco
rdan
ce w
ith re
leva
nt re
gula
tions
.
The
com
pany
has
a ri
goro
us a
ccou
ntin
g sy
stem
an
d a
dedi
cate
d ac
coun
ting
unit.
The
fina
ncia
l st
atem
ents
are
che
cked
(or r
evie
wed
) by
a ce
rtifie
d
- 64 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1 D
evia
tions
from
the
“E
thic
al C
orpo
rate
M
anag
emen
t Bes
t Pr
actic
e Pr
inci
ples
for
TWSE
/GTS
M L
iste
d C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Illu
stra
tion
Doe
s the
inte
rnal
aud
it un
it fo
llow
the
resu
lts
of u
neth
ical
con
duct
risk
ass
essm
ents
and
de
vise
aud
it pl
ans t
o au
dit t
he sy
stem
s ac
cord
ingl
y to
pre
vent
une
thic
al c
ondu
ct, o
r hi
re o
utsi
de a
ccou
ntan
ts to
per
form
the
audi
ts?
(5)
Doe
s the
com
pany
regu
larly
hol
d in
tern
al a
ndex
tern
al e
duca
tiona
l tra
inin
gs o
n op
erat
iona
lin
tegr
ity?
acco
unta
nt in
acc
orda
nce
with
the
regu
latio
ns a
nd
anno
unce
d in
acc
orda
nce
with
the
regu
latio
ns to
en
sure
the
accu
racy
and
tran
spar
ency
of f
inan
cial
in
form
atio
n. In
ord
er to
impl
emen
t the
"Pub
lic
Issu
ance
Com
pani
es E
stab
lish
Inte
rnal
Con
trol
Syst
em H
andl
ing
Gui
delin
es"
and
"Int
egrit
y M
anag
emen
t Cod
e", i
n ad
ditio
n to
hav
ing
an
inte
rnal
aud
it de
partm
ent,
the
com
pany
est
ablis
hes
a re
leva
nt in
tern
al c
ontro
l sys
tem
, reg
ular
ly c
heck
s an
d re
vise
s its
effe
ctiv
enes
s, an
d re
gula
rly c
heck
s th
e co
mpl
ianc
e w
ith th
e pr
eced
ing
syst
em T
o pr
epar
e an
aud
it re
port
and
subm
it it
to th
e bo
ard
of d
irect
ors.
In o
rder
to e
stab
lish
an h
ones
t cor
pora
te c
ultu
re
and
prev
ent d
isho
nest
beh
avio
rs, t
he c
ompa
ny
irreg
ular
ly e
duca
tes i
ts e
mpl
oyee
s and
rem
inds
its
stak
ehol
ders
to o
bser
ve a
nd re
spec
t the
com
pany
's m
oral
and
inte
grity
stan
dard
s. Th
e re
leva
nt
- 65 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1 D
evia
tions
from
the
“E
thic
al C
orpo
rate
M
anag
emen
t Bes
t Pr
actic
e Pr
inci
ples
for
TWSE
/GTS
M L
iste
d C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Illu
stra
tion
oper
atin
g pr
oced
ures
and
gui
delin
es a
nd o
ther
pr
ovis
ions
are
pub
licly
dis
clos
ed o
n th
e co
mpa
ny's
web
site
. 3.
Ope
ratio
n of
the
inte
grity
cha
nnel
(1)
Doe
s the
com
pany
est
ablis
h bo
th a
rew
ard/
puni
shm
ent s
yste
m a
nd a
n in
tegr
ityho
tline
? C
an th
e ac
cuse
d be
reac
hed
by a
nap
prop
riate
per
son
for f
ollo
w-u
p?
(2)
Doe
s the
com
pany
hav
e in
pla
ce st
anda
rdop
erat
ing
proc
edur
es fo
r inv
estig
atin
gac
cusa
tion
case
s, as
wel
l as f
ollo
w-u
p ac
tions
and
rele
vant
pos
t-inv
estig
atio
n co
nfid
entia
lity
mea
sure
s?
The
Com
pany
's "I
nteg
rity
Man
agem
ent C
ode"
st
ipul
ates
that
the
com
pany
's pe
rson
nel f
ind
that
th
ere
are
viol
atio
ns o
f the
inte
grity
man
agem
ent
regu
latio
ns, a
nd sh
ould
take
the
initi
ativ
e to
repo
rt to
the
audi
t com
mitt
ee, m
anag
er, i
nter
nal a
udit
supe
rvis
or, h
uman
reso
urce
s offi
ce o
r oth
er
appr
opria
te su
perv
isor
.
The
pers
onne
l of t
he c
ompa
ny fi
nd th
at th
ere
are
viol
atio
ns o
f the
inte
grity
man
agem
ent r
egul
atio
ns,
and
shou
ld ta
ke th
e in
itiat
ive
to re
port
to th
e au
dit
com
mitt
ee, m
anag
er, i
nter
nal a
udit
supe
rvis
or,
hum
an re
sour
ces d
epar
tmen
t or o
ther
app
ropr
iate
su
perv
isor
. The
com
pany
will
kee
p th
e id
entit
y of
Non
e
- 66 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1 D
evia
tions
from
the
“E
thic
al C
orpo
rate
M
anag
emen
t Bes
t Pr
actic
e Pr
inci
ples
for
TWSE
/GTS
M L
iste
d C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Illu
stra
tion
(3)
Doe
s the
com
pany
pro
vide
pro
per
whi
stle
blow
er p
rote
ctio
n?
the
info
rman
t and
the
cont
ent o
f the
repo
rt co
nfid
entia
l..
The
com
pany
will
kee
p co
nfid
entia
l the
iden
tity
of
the
info
rman
t and
the
cont
ent o
f the
repo
rt, so
as t
o pr
otec
t the
info
rman
t fro
m im
prop
er d
ispo
sal d
ue
to th
e re
port.
4.St
reng
then
ing
info
rmat
ion
disc
losu
re(1
)D
oes t
he c
ompa
ny d
iscl
ose
its e
thic
al c
orpo
rate
man
agem
ent p
olic
ies a
nd th
e re
sults
of i
tsim
plem
enta
tion
on th
e co
mpa
ny’s
web
site
and
MO
PS?
The
com
pany
has
Chi
nese
and
Eng
lish
web
site
s th
at d
iscl
ose
the
cont
ent o
f the
com
pany
's in
tegr
ity
man
agem
ent c
ode
and
rela
ted
info
rmat
ion.
Non
e
5.If
the
com
pany
has
est
ablis
hed
the
ethi
cal c
orpo
rate
man
agem
ent p
olic
ies b
ased
on
the
Ethi
cal C
orpo
rate
Man
agem
ent B
est-P
ract
ice
Prin
cipl
es fo
r TW
SE/T
PEx
List
ed C
ompa
nies
, ple
ase
desc
ribe
any
disc
repa
ncy
betw
een
the
polic
ies a
nd th
eir i
mpl
emen
tatio
n.
Th
ere
have
bee
n no
diff
eren
ces.
- 67 -
Eval
uatio
n Ite
m
Impl
emen
tatio
n St
atus
1 D
evia
tions
from
the
“E
thic
al C
orpo
rate
M
anag
emen
t Bes
t Pr
actic
e Pr
inci
ples
for
TWSE
/GTS
M L
iste
d C
ompa
nies
” an
d R
easo
ns
Yes
No
Abs
tract
Illu
stra
tion
6.O
ther
impo
rtant
info
rmat
ion
to fa
cilit
ate
a be
tter u
nder
stan
ding
of t
he c
ompa
ny’s
eth
ical
cor
pora
te m
anag
emen
t pol
icie
s (e.
g., r
evie
w a
ndam
end
its p
olic
ies)
.Th
e co
mpa
ny a
bide
s by
the
com
pany
law,
secu
ritie
s tra
ding
law,
com
mer
cial
acc
ount
ing
law,
regu
latio
ns re
late
d to
list
ing
on th
e co
unte
r, an
d la
ws a
nd re
gula
tions
rela
ted
to o
ther
com
mer
cial
act
iviti
es, a
s the
bas
is fo
r the
impl
emen
tatio
n of
hon
est o
pera
tion.
The
com
pany
has
ad
ded
impo
rtant
info
rmat
ion
such
as i
nteg
rity
and
norm
s on
the
proc
urem
ent s
yste
m to
ens
ure
that
supp
liers
com
ply
with
it, a
nd a
llow
ve
ndor
s to
have
any
dam
age
to th
eir r
ight
s or i
nter
ests
in th
e pr
ocur
emen
t pro
cess
, and
hav
e a
smoo
th a
ppea
l cha
nnel
. No
mat
ter t
he
inte
rnal
em
ploy
ees a
nd e
xter
nal p
artn
ers a
lway
s uph
old
the
high
est s
tand
ards
of e
thic
s, th
e su
pplie
r’s b
riber
y an
d em
ploy
ee’s
ille
gal
beha
vior
will
be
pros
ecut
ed b
y la
w.
- 68 -
3.3.7 Corporate Governance Guidelines and Regulations
Please refer to the Company’s website at http://www.everest.com.tw
3.3.8 Other Important Information Regarding Corporate Governance
1. The company's employee behavior or ethics code: integrity, teamwork,perseverance, and innovation are the company's business philosophy and the codeof conduct for each Everest person.
2. The company’s financial information is transparent and relevant personnel haveobtained the relevant licenses specified by the competent authority.
License Number of PeopleCertified Internal Auditor 1
Land administration agents 1Certified Public Accountant 1
3. The company manager's training situation:Trainee Course Host Institution hours
Audit Supervisor
Huang Chang Huang
How auditors detect fraud in financial statements
The Institute of Internal Auditors, R.O.C. 12
Prevention of domestic and foreign money laundering and combating terrorist financing related laws, risk trends, aspects and case studies
Accounting supervisor
Mei Hsiu Huang
Accounting Supervisor Continuing Education Course
National Cheng Kung University 12
3.3.9 Internal Control Systems
A. Disclosures Required for the Implementation of the Internal Control System
Please refer to the Chinese annual report.
B. Penal Provisions
If there has been any legal penalty against the company and its internal personnel, or any disciplinary penalty by the company against its internal personnel for violation of the internal control system, during the most recent fiscal year or during the current fiscal year up to the publication date of the annual report, where the result of such penalty could have a material effect on shareholder interests or securities prices, the annual
- 69 -
report shall disclose the penalty, the main shortcomings, and condition of improvement: None.
3.3.10 Major Resolutions of Shareholders’ Meeting and Board MeetingsA. Summary form of shareholders' meeting
Date Major resolutions Implementation situationJune 14, 2019 Report matters
1. 2018 annual business report2. 2018 Annual Financial Report3. The Audit Committee checked the 2018
final accounts report4. 2018 Director and Employee
Remuneration Report5. Revise the "Code of Ethical Conduct"
and "Code of Integrity Management"reports
Not applicable
Recognition matters1. Admitted to pass the 2018 final
accounts list case2. Admitted to approve the 2018 surplus
distribution plan
Set 2019.09.01 as the base date and distributed stock dividends on 2019.09.26
Discussion matters1. The company's 2018 shareholder
dividend surplus was converted tocapital increase to issue new shares
2. Amend some of the articles of thecompany's articles of association
3. Amend some provisions of thecompany's "Procedure for Fund Loanand Others"
4. Amend some provisions of thecompany's "Endorsement GuaranteeOperation Procedure"
5. Amend some provisions of thecompany's "Procedure for Obtaining orDisposing of Assets"
Has been processed in accordance with the revised operating procedures.
B. Summary table of board meetingsItem Date Major resolutions
4th( Eleventh Session) Mar 19, 2019
1. Approved the proposal of EnTie Bank's extension NTD$ 200 millionfor the mid-term line of loan.2. Approved the proposal of renewing Taishin Bank extends the short-term credit facilities.3. Approved the proposal of renewing Bangkok Bank extends the mid-term general limit.4. Approved the proposal of renewing HSBC extends the general creditfacilities.5. Approved the proposal of renewing KGI Bank extends the mid-termgeneral limit.6. Approved the proposal for making endorsements and guarantees tothe subsidiary named Everest Investment (Holding) Ltd. to apply theloan commitments from the Bangkok Bank.7. Approved the proposal for making endorsements and guarantees tothe subsidiary named Everest Investment (Holding) Ltd. to renew theUSD facilities from the KGI Bank.8. Approved the proposal for making endorsements and guarantees tothe subsidiary named Everest Development (Shanghai) Co., Ltd. torenew the loan commitments from the CTBC Bank.9. Approved the proposal of the subsidiary named the Everest Apparel(Ethiopia) S.C. and (Haiti) S.A.'s the receivable is more than a year by
- 70 -
accounts receivable-related parties change to loan to others.10. Approved the company's year 107 individual and consolidatedfinancial reports11. Approved the company's year 107 surplus distribution plan12. Approved the company's year 107 director and employeecompensation case13. Approved revising the company policy's several articles.14. Approved revising several articles from the company's managementof loans to others.15. Approved revising several articles from the company's managementof making endorsements and guarantees.16. Approved revising several articles from the company's proceduresfor acquisition or disposal of assets.17. Approved the date of the year 108 Annual General Meeting ofShareholders and related matters concerning the acceptance ofshareholder proposals.18. Approved the proposal of the year 108's annual operating budget.19. Approved the proposal of the company's year 108 annual capitalexpenditure budget (parent company is Taiwan factory, subsidiary areShanghai factory, Thailand factory, U.S. factory, Ethiopia factory, Haitifactory).20. Approved the proposal of the appointment and removal of thecompany's manager or above.21. Approved the proposal of the internal control statement for the year107.22. Approved the proposal of the Far Eastern International Bank extendsshort-term and mid-term for the general limit and the USD facilities'forward exchange agreement.23. Approved the proposal of renewing the Exim Bank Tainan branch'sshort-term export credit facilities for NTD 200 million.24. Approved the proposal of renewing the Shanghai Commercial andService Bank extends the short-term loan limit and the USD's exportbills negotiation and export loan.25. Approved the proposal for making endorsement and guarantees tothe subsidiary named Everest Investment (Holding) Ltd. provides short-term facilities from the Entie Bank.26. Approved the proposal for making endorsement and guarantees tothe subsidiary named Everest Investment (Holding) Ltd. extends thegeneral credit facilities from the HSBC.27. Approved the proposal for making endorsements and guarantees tothe subsidiary named Everest (Thailand) Ltd. to renew the USDfacilities from the Mizuho Bank.28. Approved the company's 107 annual shareholders' dividend surplusto increase capital to issue new shares.
5th( Eleventh Session)
May 09, 20191. Approved the proposal of the Mega Bank extends the short-term and
mid-term general limit.2. Approved the proposal of renewing the Taiwan Cooperative Bills
Finance Corporation extends the short-term commercial paper.3. Approved the proposal of renewing the China Bills Finance
Corporation extends the short-term commercial paper.4. Approved the proposal of the SinoPac Bank extends the mid-term
general limit.5. Approved the proposal for making endorsements and guarantees to the
subsidiary named Everest Investment (Holding) Ltd. extends the short-term USD facilities from the Yuanta Bank.
6. Approved the proposal for making endorsements and guarantees to thesubsidiary named Everest Investment (Holding) Limited provides theshort-term USD facilities from the SinoPac Bank.
7. Approved the proposal of renewing the loan funds to the subsidiarynamed Everest Textile USA, LLC.
8. Approved the proposal of the subsidiary named the Everest Apparel(Ethiopia) S.C. and (Haiti) S.A.'s the receivable is more than a year byaccounts receivable-related parties change to loan to others.
9. Approved the proposal of loaning to Everest Apparel (Ethiopia) S.C.
- 71 -
and the debt is sold to Hongzhan International Investment Co., Ltd.10. Approved the company's 107 annual business report11. Approved the proposal of the dismissal and appointment of the
members of the fourth salary and compensation committee of thecompany.
12. Approved revising several articles from the company's "CorporateGovernance Code", "Board Meeting Rules of Procedure", "AuditCommittee Organization Rules" and "Salary and RemunerationCommittee Organization Rules".
6th( Eleventh Session)
Aug. 08, 20191. Approved the proposal of renewing the Mega Bank provides theshort-term general credit facilities and adds the long-term line of loan.2. Approved the proposal of renewing the Ta Ching Bills FinanceCorporation's Kaohsiung branch extends the company's short-termcommercial paper facilities.3. Approved the proposal of renewing the EnTie Bank's mid-term line ofloan.4. Approved the proposal of renewing the BNP Paribas extends thecompany the short-term USD facilities.5. Approved the proposal for renewing and making endorsements andguarantees to the subsidiary named Everest Textile USA, LLC to applythe loan commitments from the Mizuho Bank.6. Approved the proposal for renewing and making endorsements andguarantees to the subsidiary named Everest Textile USA, LLC to applythe loan commitments from the E. Sun Bank.7. Approved the proposal for making endorsements and guarantees tothe subsidiary named Everest Investment (Holding) Ltd. to apply theUSD facilities from the O-Bank.8. Approved the proposal for making endorsements and guarantees tothe subsidiary named Everest International Investment Co., Ltd to applythe loan from the Exim Bank.9. Approved the proposal of the company loans to Everest Apparel(Ethiopia) S.C. and (Haiti) S.A., the claim is sold to EverestInternational Investment Co., Ltd.10. Approved the proposal of the subsidiary named the Everest Apparel(Ethiopia) S.C. and (Haiti) S.A.'s the receivable is more than a year byaccounts receivable-related parties change to loan to others.11. Approval of the company's year 107 surplus distribution plan basedate12. Approved the cash increase for the subsidiary Everest InternationalInvestment Co., Ltd.13. Approved establish the company's "Board Performance EvaluationMethod".
7th( Eleventh Session)
Nov. 07, 20191. Approved the proposal of renewing the Grand Bills FinanceCorporation's Kaohsiung branch extends the company issued short-termcommercial paper.2. Approved the proposal of renewing the Mega Bills Finance Co., Ltd.extends the company issued short-term commercial paper.3. Approved the proposal of renewing the E. Sun Bank extends thecompany's short and mid-term's general limit and export billsnegotiation facilities.4. Approved the proposal of the company's debt from the accountsreceivable’s by the subsidiary named the Everest Apparel (Ethiopia)S.C. and (Haiti) S.A. is sold to the Everest Apparel (HK) Ltd.5. Approved the change case of the company's financial officer6. Approved the appointment and removal of the company's manager orabove7. Approved the proposal of loan to the subsidiary named EverestInternational Investment Co., Ltd.8. Approved the proposal of the year 109 annual plan of assessment
- 72 -
8th( Eleventh Session)
Mar. 19, 20201. Approved the proposal of renewing the Bangkok Bank extends thecompany's short and mid-term's general credit facilities.2. Approved the proposal of renewing the HSBC extends the company'sshort-term general limit.3. Approved the proposal of renewing the Taishin Bank extends thecompany's short-term credit facilities.4. Approved the proposal of renewing the SinoPac Bank extends thecompany's short-term general limit.5. Approved the proposal of renewing the International Bills FinanceCorporations extends the company's short-term commercial paperfacilities.6. Approved the proposal of renewing the O-Bank extends thecompany's mid-term, export bills negotiation and derivative financialproduct's facilities.7. Approved the proposal for renewing and making endorsements andguarantees to the subsidiary named Everest Textile (Thailand), Co., Ltd.to apply the loan commitments from the Mizuho Bank.8. Approved the proposal for renewing and making endorsements andguarantees to the subsidiary named Everest Investment (Holding) Ltd. toapply the loan commitments from the Bangkok Bank.9. Approved the proposal for renewing and making endorsements andguarantees to the subsidiary named Everest Investment (Holding) Ltd. toapply the loan commitments from the HSBC.10. Approved the proposal for renewing and making endorsements andguarantees to the subsidiary named Everest Investment (Holding) Ltd. toapply the loan commitments from the KGI Bank.11. Approved the proposal for making endorsements and guarantees tothe subsidiary named Everest Development (Shanghai) Co., Ltd. torenew the loan commitments from the CTBC Bank.12. Approved the company's year 108 annual business report,individual and consolidated financial report13. Approved the company's year 108 annual operating lossappropriation plan14. Approved revising the company policy's several articles15. Approved revising several articles from the company's "IntegrityManagement Code".16. Approved revising several articles from the company's "Rules ofprocedure for shareholders' meetings ".17. Approved the company reiterates the self-compiled financialreport, and revises the internal control system and internal audit system.”18. Approved the date of the year 109 regular shareholders' meetingand relevant matters related to the acceptance of shareholders' proposals19. Approved the company's the 109 annual operating budget20. Approved the company's the 109 annual capital expenditure budget21. Approved the appointment and removal of the company's manageror above22. Approved the company's year108 internal control statement23. Approved the proposal of renewing the Far Eastern InternationalBank extends short-term and mid-term for the general limit and theforward exchange agreement.24. Approved the proposal of loaning to the subsidiary named EverestApparel (HK), Ltd.25. Approved the proposal of loaning to the subsidiary named EverestApparel (Ethiopia) S.C.26. Approved the proposal for making endorsements and guarantees tothe subsidiary named Everest Textile USA, LLC to apply the loancommitments from the JihSun Bank.
- 73 -
3.3.11 Major Issues of Record or Written Statements Made by Any Director or Supervisor Dissenting to Important Resolutions Passed by the Board of Directors
None
3.3.12 Resignation or Dismissal of the Company’s Key Individuals, Including the Chairman, CEO, and Heads of Accounting, Finance, Internal Audit, Corporate Governance and R&D
9th( Eleventh Session)
May 06, 20201. Approved the proposal of renewing the Shanghai Commercial andService Bank extends the short-term general loan, export billsnegotiation, export loan and the mid-term line of loan.2. Approved the proposal of renewing the Taiwan Cooperative BillsFinance Corporation extends the company's short-term commercialpaper facilities.3. Approved the proposal of renewing the China Bills FinanceCorporation extends the company's short-term commercial paperfacilities.4. Approved the proposal for renewing and making endorsements andguarantees to the subsidiary named Everest Investment (Holding) Ltd. toapply the short-term USD line of loan from the SinoPac Bank.5. Approved the proposal for renewing and making endorsements andguarantees to the subsidiary named Everest Investment (Holding) Ltd. toapply the short-term USD line of loan from the Yuanta Bank.6. Approved the proposal of renewing loans to the subsidiary namedEverest Textile USA, LLC.7. Approved the proposal of loaning to the subsidiary named EverestApparel (Haiti) S.A.
Title NameDate of
AppointmentDate of
Termination
Reasons for Resignation or
Dismissal
Finance Supervisor
Ying-Shiuan Yu 08, 08, 2017 09, 30, 2019 Personal career
planning
- 74 -
3.4 Information Regarding the Company’s Audit Fee and Independence
3.4.1 Audit Fee
Unit: NT$ thousands
Note: Note: for transfer pricing fees, RPA consulting fees.
3.4.2 Replacement of CPA None
3.4.3 Audit Independence
The Company’s Chairman, Chief Executive Officer, Chief Financial Officer, and managers in charge of its finance and accounting operations did not hold any positions in the Company’s independent auditing firm or its affiliates during 2019.
Accounting Firm Name of CPA Period Covered by CPA’s Audit Remarks
Deloitte & Touche Jiz-hen Li & Li-yuan Guo
2019.01.01~2019.12.31
Fee Items Fee Range Audit Fee
Non-audit Fee
Total
1 Under NT$ 2,000,000
2 NT$2,000,001 ~ NT$4,000,000 3 NT$4,000,001 ~ NT$6,000,000 4 NT$6,000,001 ~ NT$8,000,000 5 NT$8,000,001 ~ NT$10,000,000 6 Over NT$100,000,000
Accounting Firm
Name of CPA
Audit Fee
Non-audit Fee Period Covered by CPA’s Audit
Remarks System of Design
Company Registration
Human Resource Others Subtotal
Deloitte & Touche
Jiz-hen Li 6,060 - 8 - 1,678
(note) 7,738 2019.01.01
Li-yuan Guo 2019.12.31
- 75 -
3.5 Changes in Shareholding of Directors, Supervisors, Managers and Major Shareholders
Unit: Shares
Title Name
2019 As of Apr. 30, 2020
HoldingIncrease
(Decrease)
PledgedHoldingIncrease
(Decrease)
HoldingIncrease
(Decrease)
PledgedHoldingIncrease
(Decrease)
ChairmanRepresentative
Weiyu Innovation InvestmentJohnny Hih
4,357 22,675 - - -
ChairmanRepresentative
Yue Ding IndustryChing-Lai Yeh
21,23032,407 - - -
ChairmanRepresentative
Shuo Quan Co., Ltd.Shou-Chun Yeh
2,23154,021 - - -
ChairmanRep.Rep.Rep.
Yuan Ding InvestmentDonglas Tong Hsu
Kao Shan WuEric Hu
2,521,9290
3,8260
- - -
DirectorRep.Rep.
Yu Yuan Investment Co., Ltd.Charles Wang
Haw Sheng Lin
257,7940
11,535- - -
Ind. Director Shiou Chung Chen 0 - - -Ind. Director Jen Fa Chen 20,418 - - -Ind. Director Yin Chi Chuang 20,413 - - -
President Ching-Lai Yeh 32,407 - - -Vice President Sen Mao Wu 1,896 - - -Vice President Wen Gui Hsiang 2,307 - - -Vice President Hsien Shen Hung 1,629 - - -Vice President Ming Yi Hsiao 8,724 - - -Vice President Chin Chueh Kao 3,107 - - -Vice President Chin Liang Chen 1,636 - - -Assistant M. Shih Jung Lin 0 - - -Assistant M. Hui Min Cheng 715 - - -Assistant M. Ping Liang Chen 2,228 - - -Assistant M. Wen Chin Yeh 3,804 - - -Assistant M. Tung Sheng Hung 1,347 - - -Assistant M. Mei Na Liu 0 - - -Assistant M. Chien Hua Kao 0 - - -Assistant M. Chin Li Kao 30 - - -Assistant M. Yi Cheng Tseng 62 - - -Assistant M. Huang Shan Lin 0 - - -Assistant M. Ting Hua Hung 0 - - -Assistant M. Fu Yu Chiu 0 - - -Assistant M. Hsiang Jui Liu 0 - 3,000 -Assistant M. Yaozhou Wu 0 - - -Assistant M. Lung Chih Chen 0 - - -Assistant M. Tsung Hung Li 0 - - -Assistant M. Wen Guang Luo 0 - - -Assistant M. Hsu Chiung Hua 0 - - -Accounting Supervisor Mei Hsiu Huang 250 - - -
- 76 -
3.5.1 Shares Trading with Related Parties Not applicable
3.5.2 Shares Pledge with Related Parties Not application
3.6 Relationship among the Top Ten Shareholders
As of 4/17/2020
3.7 Ownership of Shares in Affiliated Enterprises
As of 4/17/2020
Name Current
Shareholding Spouse’s/minor’s
Shareholding
Shareholding by Nominee Arrangement
Name and Relationship Between the Company’s Top Ten Shareholders, or
Spouses or Relatives Within Two Degrees
Remarks
Shares % Shares % Shares % Name Relationship
Yuan Ding Investment Rep.:Donglas Tong Hsu
Oriental Union Chemical Yu Yuan Investment
Same Chairman Invested by Far
Eastern New Century
Refer 3.2.1
Everest I.D.I. Rep.: Charles Wang None None Not
applicable Guangwei Investment
Rep.:Ying-Nan Chuang None None Not applicable
Fu Ming Transportation Rep.: Johnny Hih None None Not
applicable
Yu Yuan Investment Rep.: Chun Ming Chen Yuan Ding Investment
100% invested by Far Eastern New
Century Refer 3.2.1
Oriental Union Chemical Rep.: Donglas Tong Hsu
Yuan Ding Investment Ton Fu Investment
Same Chairman 100% Invest Ton
Fu Investment
Not applicable
Ton Fu Investment Rep.: Cheng Yu Zheng, Oriental Union Chemical
100% Invested by Oriental Union
Chemical Refer 3.2.1
Citibank (Taiwan) Commercial Bank
Investment Account None None Not
applicable
Shun Yi Yang, None None Not applicable
Hsiu Hsiu Yu, None None Not applicable
Affiliated Enterprises
Ownership by the Company
Direct or Indirect Ownership by Directors/Supervisors/Managers Total Ownership
Shares % Shares % Shares % Everest Investment (Holding) Ltd. Everest International Develop Investment Co., Ltd. Jin Lead Industrial Co., Ltd. Everest Textile (HK) Co., Ltd. Far Eastern International Bank Co., Ltd. Dah Chung Bills Finance Corp.
- 77 -
IV. Capital Overview
4.1 Capital and Shares
4.1.1 Source of Capital
A. Issued Shares
Unit: NT$ thousands, thousand shares
B. Type of Stock
C. Information for Shelf RegistrationNone
4.1.2 Status of ShareholdersAs of 04/17/2020
Month/Year
ParValue(NT$)
Authorized Capital Paid-in Capital Remark
SharesAmount
(NT$ thousands)
SharesAmount
(NT$ thousands)
Sources of Capital (Earning)
CapitalIncreased byAssets Other
than Cash
OtherCash Earning APIC
2015 None None2016 None None2017 None None2018 None None2019 None None
Share TypeAuthorized Capital
RemarksIssued Shares Un-issued Shares Total Shares
Common Stock None
Item Government Agencies
Financial Institutions
Other Juridical Persons
Domestic Natural Persons
Foreign Institutions &
Natural PersonsTotal
Number of ShareholdersShareholding (shares)
Percentage
- 78 -
4.1.3 Shareholding Distribution Status
A. Common SharesAs of 04/17/2020
B. Preferred SharesNone
4.1.4 List of Major Shareholders
As of 04/17/2020
Note: List all shareholders with a stake of 5 percent or greater, and if those are fewer than 10 shareholders, also list all shareholders who rank in the top 10 in shareholding percentage, and specify the number of shares and stake held by each shareholder on the list.
Class of Shareholding (Unit: Share)
Number of Shareholders Shareholding (Shares) Percentage
1 ~ 9991,000 ~ 5,000
5,001 ~ 10,00010,001 ~ 15,00015,001 ~ 20,00020,001 ~ 30,00030,001 ~ 40,00040,001 ~ 50,000
50,001 ~ 100,000100,001 ~ 200,000200,001 ~ 400,000400,001 ~ 600,000600,001 ~ 800,000
800,001 ~ 1,000,0001,000,001 or over
Total
Shareholder's NameShareholding
Shares PercentageYuan Ding Investment Co., Ltd.Everest International Develop Investment Co.,Ltd.Guangwei Investment Co., Ltd.Fu Ming Transportation Co., Ltd.Yu Yuan Investment Co., Ltd.Oriental Union Chemical CorporationTon Fu Investment Corp.Citibank (Taiwan) Commercial Bank Investment AccountShun Yi Yang,Hsiu Hsiu Yu,
- 79 -
4.1.5 Market Price, Net Worth, Earnings, and Dividends per Share
Unit: NT$
Note 1: Price / Earnings Ratio = Average Market Price / Earnings per Share
Note 2: Price / Dividend Ratio = Average Market Price / Cash Dividends per Share
Note 3: Cash Dividend Yield Rate = Cash Dividends per Share / Average Market Price
Note 4: The surplus distribution plan is determined after the resolution passed by this (2020) annual
shareholders' meeting.
Note 5: It is calculated based on the weighted average number of shares issued overseas and the number
of shares after retroactive adjustment of surplus and capital reserve conversion to capital increase.
4.1.6 Dividend Policy and Implementation Status
A. Dividend Policy
If earnings are available for distribution at the end of a fiscal year, 10% of net earnings
– that is, after offsetting any loss from prior year(s) and paying all taxes and dues – shall
be set aside as legal reserve and appropriated in accordance with the Securities
Exchange Law. Then, the remaining net earnings after special reserve can be distributed
along with prior accumulated unappropriated retained earnings. The Board of Directors
will consider the above-mentioned factors when making the dividend distribution
Items 2018 2019 As of 03/31/2020
Market Price per Share
Highest Market Price 15.00 12.6 9.39
Lowest Market Price 11.50 8.99 4.93
Average Market Price 13.15 10.85 7.36
Net Worth per Share
Before Distribution 10.88 10.01 9.42
After Distribution 10.88 (Note 4) (Note 4)
Earnings per Share (Note 5)
Weighted Average Shares
(thousand shares) 474,281 483,767 483,767
Diluted Earnings Per Share 0.33 (0.56) (0.31)
Adjusted Diluted Earnings Per Share 0.33 (Note 4) (Note 4)
Dividends per Share
Cash Dividends 0 0 Not applicable
Stock Dividends
Dividends from Retained Earnings 0.2 None Not applicable
Dividends from Capital Surplus None None Not applicable
Accumulated Undistributed Dividends None None Not applicable
Return on Investment
Price / Earnings Ratio (Note 1) 40 Not
applicable Not applicable
Price / Dividend Ratio (Note 2) Not
applicable
Not
applicable Not applicable
Cash Dividend Yield Rate (Note 3) 0 0 Not applicable
- 80 -
proposal. Dividends will be distributed in accordance with the resolution approved by the Board of Directors and at the annual shareholders’ meeting. The surplus may be partly reserved according to the business situation, and the shareholder dividends will be distributed equally based on all the shares. However, in the event of an increase in capital, the dividends for the newly added shares of the year shall be handled in accordance with the resolution of the shareholders’ meeting. Dividends of the company shall take into account the characteristics of the changing business conditions of the business under consideration, consider the impact of the life cycle of each product or service on future capital needs and taxation, and distribute them under the goal of maintaining a stable dividend. The distribution of dividends shall not be less than 50% of the net after-tax net profit of the year after deducting the amount of losses made up, the statutory surplus reserve and the special surplus reserve, and the cash dividend portion shall not be less than the percentage of the current year’s shareholder dividend ten.The proposed dividend distribution situation of the shareholders' meeting: 2020 is a loss after tax, so no dividend will be distributed.
B. Proposed Distribution of Dividend
Not applicable
4.1.7 Compensation of Employees, Directors
1. The percentage or scope of employee compensation and director compensationincluded in the company's articles of association:If the company makes a profit for the year, 2% to 3.5% should be set aside for employee compensation, and no more than 2.5% for director compensation. However, when the company still has accumulated losses, it should reserve the compensation amount in advance.
2. The estimation basis of the employee compensation and director compensationamount, the calculation basis of the number of shares allotted stock compensationand the actual allotment amount in the current period are different from the estimated number of accounting treatment: Not applicable.
3. The situation of remuneration for distribution by the board of directors in 2019: Notapplicable.
4. The actual distribution of employee compensation and director compensation in theprevious year (2018): The actual distribution of employee compensation anddirector compensation in 2018 is consistent with the surplus distribution case approved by the shareholders' meeting.
4.1.8 Buy-back of Treasury Stock: None4.2 Bonds: None
4.3 Global Depository Receipts: None4.4 Employee Stock Options: None4.5 Status of New Shares Issuance in Connection with Mergers and AcquisitionsNone4.6 Financing Plans and Implementation: None
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V. Operational Highlights
5.1 Business Activities
5.1.1 Business Scope
A. Main products
Main products Proportion of business in 109 Fabric 89.20% Textured Yarn 7.50% Other 3.30% Total 100.0%
B. New products development(1) Commodity items: Special polyester textured yarn, LYCRA covered yarn, Suede fabric, Ultra-fine
fibers and ultra-light fabrics, Functional high-density fabric, Filament and Staple blended fabric, Highwaterproof and breathable lamination, Smart memory fabric, Filament dyed fabric, Staple dyed fabric,Ultra-thin lamination fabric, AIR FLOW lamination fabric, Washable super water repellent fabric,Graphene film lamination products, High-visibility fluorescent film lamination products, Lowimpedance conductive film, Development of hot compress composite products, Rendering printingseries products, Digital flocking printing products.
(2) New products planned to be developed Graphene fiber, PTFE fiber, Recycle Dope Dyed highvisibility polyester fiber, Non-melting flame retardant polyester fiber, Wear-resistant polyesterfiber, Aerogel polyester fiber, Cordura wear-resistant elastic cloth, Wool-like lamination fabric,Yarn dyed seamless clothes, Three-dimensional jacquard knitted fabric, Rich high-elastic knittedfabric, Lightweight knitted fabric, Healthcare compound product development, Industrial flameretardant cloth product development, Digital flocking printing series, Digital printingdevelopment module series.
5.1.2 Industry Overview A. Industry status and development
In 2019, affected by the U.S.-China trade war, the U.S.'s aggressive means of trade may affect the growth of the international economy, leading to a conservative international brand procurement strategy. In order to reduce costs and shorten delivery time, international brands tend to "one-stop" centralized procurement, reduce the number of suppliers, and at the same time considering regional trade tariff preferences, the benefits of brand factories turning orders gradually is appeared.
B. Relevance of industry upstream, midstream and downstreamTextile industry is a necessary industry for people's livelihood. The upstream is the polyester fiber(Polyester) industry, the raw materials used are products from the petrochemical industry. Themidstream is a process of natural fibers and synthetic fibers such as: spinning, weaving, dyeing andfinishing. Downstream is the manufacturing of textiles for the garment industry, home furnishings, andcurtains. Please refer to pages 42-46 for the integration of the company's industrial upstream,midstream and downstream connections.
C. Product development trends and competitionToday's market trend has shifted from functional fabrics to advanced popular fabrics. The demand ofmajor brands is increasing day by day. At present, popular brands also combine environmentalprotection issues with story marketing to expand market demand. The promotion of social media hasenabled consumers to recognize the importance of environmental protection issues, and promoted thedevelopment of environmentally friendly apparel, which has greatly increased the demand forcomposite functional textiles. Therefore, the international brands are urged to readjust theirconsumption patterns and market competition rules.
5.1.3 Research and Development
A. Research and development expenditure
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NT$263.88 million in 2019. For the first quarter of 109, it was NT$ 61.54 million. In 109, it is expected to invest 3 to 4% of the operating income in research and development expenses.
B. Successfully developed technologies or new products are as follows
Ever Knit Soft Shell Ever I-Fiber Leather Ever Cool Promoting Ever Ge Warm Ever Lace-like Perspective Print Ever Rainbow Reflective Print Digital print Ever Smart Heating Clothing Ever Airflow Wear Ever Polar bear Wear Ever Recycle-PET& Bio Soft Shell Ever Graphene Wear Ever Aurora Foil Ever FR Work Wear Ever Med Ever Film Ever Frozen Dye.
5.1.4 Long-term and Short-term Development A. Short-term business development plans: With the breakthrough of technology, manytextiles have been used in aerospace, transportation, industry, medical treatment, home decoration,agriculture, construction, packaging, sports, civil engineering, safety protection and environmentalprotection. Industrial textiles have become a prominent field. Everest uses core-technologies to formalliances with different industries, and transforms into a new blue ocean in the industrial textile market.Based on the structural engineering design of textiles and the function such as high heat-resistant, flameretardant, chemical resistance, we choose different materials and woven, knitting elasticity and specialfinishing and laminating technology to increase the use of cross-industry fabrics, the products such asEver FR Work Wear, Ever Med Wear, Ever Film. These products have entered various industrial markets.
B. Long-term business development plans: In order to keep up with market trends, Everesthas invested resources to develop smart medical products for many years. Everest continue thedevelopment of smart wearable products and electric heating products "Everest High-Tech Heated EyeCover". By integrating Everest functional fabrics such as Ge functional fabrics and collagen functionalfabrics, the value of original products will be increased to attract customers. In addition, we continue tocooperate with different industries (such as the Industrial Research Institute) to develop cross-disciplinary integration of Everest functional textiles with smart materials and smart technologies todevelop medical wearable aids and sports technology composite smart wearable systems. We hope tobring the smart health industry into daily life and create a healthy and happy new life.
Everest adheres to the concept of environmental friendliness and cooperates with the international brand sustainable environmental protection policy, combined with the application of high-tech innovative functional textiles, locks in the outdoor, sports, leisure, fashion apparel market and industrial textiles, and continues to create unique and high value-added textiles. Environmentally friendly materials and composite reflective printing have become market trends, guiding the diversification of popular and fashion function markets. Everest's strength is to provide raw materials and functional processing from yarn to garments. Coupled with the innovative integrated design of printing and clothing, it can provide customers with more value-added services. Everest can design fabrics based on customer needs by integrating fabric development and garment innovation, and establish long-term partnership with customers. With Everest's niche environmentally friendly fabrics, developing a series of environmentally friendly clothing has become the best choice of ODM environmentally friendly clothing suppliers for customers.
5.2 Market and Sales Overview
5.2.1 Market Analysis 1. Sales area of main products
Products are mainly exported, including Europe, North America, Japan, South Korea,Hong Kong, Southeast Asia, New Zealand and Australia.
2. Market shareIt has become a strategic partner with international brand customers and has become amajor supplier of internationally renowned brands. Combined with the full value chainservice of fabric to cloth, the market is expanding globally.
3. The market's future situation of supply and demand & future growth
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A. Extending the vertical integration of the ecological supply chain bycombining the investments of the United States, Haiti, Ethiopian weavingand garment factories and using the advantages of global operations toexpand external sales.
B. Supply and demand of filament and staple fabrics and garmentsa. For filament fabrics, the high-performance Sports and Outdoor fabrics
are the main force, while the Fashion and knitting product lines areexpanded to give the multiplication effect of the humanities X science.The expansion of environmentally friendly and green products has led tosignificant growth and increased brand awareness.
b. For staple fabrics, the products developed by using the company'sexisting filament technology with staple materials are highlydifferentiated and have won the favor of customers.
c. For garments Combine knitted fabric and woven fabric for garment processing.
Sell knitted fabrics and woven fabrics and supply them to Everest’s garment factories.
The operation mode of garments orders drives the growth of fabrics orders, and effectively developing the entire batch of raw materials to be produced in Everest.
4. Advantages and disadvantages of competitive niche and development prospects &countermeasures
A. Opportunitiesa. The global political and economic situation is turbulent, and the supply
chain sector has moved, it is highlighting the importance of the regionallayout in six countries.
b. The global layout is close to the customer market and the service can bevertically integrated, which can shorten the delivery time and havepreferential tariff services.
c. Smart factory and equipment diversification, fabrics combined withgarments to serve customers in a full range, all the above can providemultiple innovative values.
d. The Thailand factory has a good investment environment and perfectinfrastructure, and provides high value-added products. It is difficult forSoutheast Asian competitors to imitate in the short term.
e. Putting smart automation equipment into garments producing,borrowing skills to produce shifts, and producing high unit priceproducts, giving full play to the advantages of latecomers.
f. The Everest Institute of Technology and the Development andConnection Department combine different areas of knowledge to createnew markets, new businesses, and develop new ecosystem economies.
g. Diversity of machine types, high production capacity of complexproducts, and supply of diversified products.
B. Challengea. Environmental regulations have become stricter and production costs
have increased.b. There is a shortage of multinational talents, and employees' foreign
language skills need to be strengthened.c. The Taiwan factory is facing aging manpower and retirement, and
insufficient labor force affects production capacity.d. In the initial stage of the new plants, the marketing system is still weak
and has not yet reached its profit target.e. With the advent of the IOT era, the security layout of smart enterprises
and factories will be a major challenge.
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C. Countermeasuresa. Apply Everest's consistent production mode, expand the market by
combining knitted fabrics and woven fabrics, and combining filamentand staple fabrics with garments.
b. Develop environmentally friendly niche products and establish Everest'sleading position in ecologically innovative products with the circulareconomy.
c. Create manufacturing advantages in the United States and Haiti, andexpand operations in the American market.
d. Combining the knowledge of the same industry and different industriesto develop blue ocean business opportunities through innovation anddiversified composite technologies.
e. Coordinate internal and external resources in the six countries region tomaximize the synergy of the Everest Group.
f. Integration of global orders, efficient and decentralized production,shorten order delivery time and quick delivery.
g. Establish a global AI execution team to accelerate companytransformation.
h. Global talent selection and training, intelligent and innovativemanagement to meet the needs of talents in six countries region.
i. Activate the organization to create business energy.
5.2.2 Production Procedures of Main Products A. Major Products and Their Main Uses
Project Product Category Product Item The main purpose
Textured Yarn
A. Taslan Textured Yarn
1.Air Textured Yarn 1.Pantsuit Skirt pantsSports Home & Furniture
2.Different ShrinkageYarn
2.Dress Pants ShirtsCoats
3.New Synthetic Fiber 3.Dress Pants ShirtsCoats
B. Draw Textured Yarn
1.Micro Fiber 1. Sports Outdoor2.Stretch Yarn 2. Sports Outdoor3.Recycle DrawTextured Yarn
3. Sports Outdoor
C. Texture Yarn
1.Polyester TexturedYarn
1.Deluxe Man & Woman’sSuits
2.Micro Fiber 2.Sports & Casual WearWind Coats Home &Furniture
3.Cationic DyeableTexture Yarn
3.Man & Woman Suits
4.Thick & Thin Yarn 4.Man’s Suit PantsSports Outdoor
5.Interlace TexturedYarn
5.Deluxe Man & WomanSuits Pants SportsOutdoor
6.Lycra Covery Yarn 6.Deluxe Man & WomanSuits Pants SportsOutdoor
7.Functional TexturedYarn
7. Home & Furniture,Industrial Textile
Filament Woven fabric A. New synthetic thick strong
twining fiber
1.Rayon like finish 1.Dress. Blouse. Set2.Silk-like finish 2.Dress. Shirt. Men’s pants.
jacket
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Project Product Category Product Item The main purpose 3.Worsted like finish 3.Dress. Men’s pants.
Business suit4.Suiting finish 4.Dress. Shirt. Set
B.Stretch woven
1.Nylon stretchwoven(4-Way stretch)
1.Outdoor Casual
2.Polyester stretchwoven(4-Way stretch)
2.Sports OutdoorCasual
C.Double face woven1.Absorptive finishing 1.Casual Sports2.Waterproof 2.Pants. Coat3.Brushing finishing 3.Pants. Coat
D.Ultra light weight1.Waterproof 1.Casual Sports Coat2.Waterproof.Breathable
2.Outdoor wear
E.Inelastic organization(High fine count waterproofwoven fabric)
1.Waterproof. Glaze 1.Coat. Down jacket2.Absorptive finishing 2.Shorts. Shirt
Staple Piece Dyes fabric
Staple & filament interweaving
1.TR 1.Outdoor & casualShirting & pants
2.T/C 2.Outdoor & casualShirting & pants
3.N/C 3.Outdoor & casualShirting & pants
4.100%CM 4.Outdoor & casualShirting & pants
Dyeing and Finishing fabric
A. New synthetic fabric Same two A Same as left B. Stretch fabric Same two B Same as left C. Micro-fiber fabric Same two C Same as left D. Blended fabric Same two D Same as left E. General fabric Same two E Same as left F. Doeskin Same two D Same as left
Printing fabric Heat transfer printing fabric Printing Polyester
fabric
1. Beach casual wear andsports jacket2. Beach Men's andWomen's Jackets
Coating fabric Special processing fabric
1.Water repellencyand waterproof fabric
1. Casual jacket, sportsjacket, windbreaker
2.Water repellency,Breathable andwaterproof fabric
2. Advanced windbreaker,snow coat, sports jacket
Lamination fabric Special processing fabric Breathable and
waterproof fabric
1. Mountaineering clothing2. Snow clothing, cold-
proof jacket
Yarn dyed fabric
A.Synthetic yarn dyedB.Spun yarn dyedC.yarn dyed stretch fabricD.Staple & filamentinterweaving YDE.Yarn dyed fabric withspecial finish
1.Poplin2.Dobby3.Oxford4.Seer-sucker5.Brushed fabric
Shirting, pajamas, suiting, skirt, casual pants, outerwear, wind jacket, sports wear
Knit Fabric
A.Filament Yarn DyedStretch Fabric seriesB.Nylon 66 Yarn DyedStretch seriesC.Micro Fiber Knit Series
1.Single Jersey Fabric2.Double Knit Fabric 3.Jacquard Fabric4.Brushed Fabric
Man and Women’s shirts Nightclothes Skirt/Pants , Casual pants, Coat, Wind Coat, Sports Wear
Industrial fabric
A. Work fabricB. Industrial materialC. Medical fabric
1.Flame retardantprotective fabric2.Highly visible fabric
1. Industrial protectivesafety clothing2. Industrial filter material
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Project Product Category Product Item The main purpose 3.Cold/rain-prooffabric4.PTFEmembrane/yarn5.Special PU film6.Surgical clothing/medical clothing7. Kinesiology tapefabric8. Ward clothing andbedding9. Antibacterial fabric
3. Hot compress clothingand accessories4. Membrane for high-techindustry5. Medical fabrics andclothing6. Health protectionproducts
- 87 -
B. Major Products and Their Production Processes
- 88 -
5.2.3 Supply Status of Main Materials
The main raw materials required by the company for the production of various products are listed as follows according to the use and supply status of the source manufacturers
Major industry
sectors
Main product Main material Supply source
Textured Yarn
factory
A).Interlace Texture Yarn B).Shrinkage Yarn C).High Elastane Fiber D).Ultra microfiber
Oriented yarn POY
HOY POY POY Stretch Yarn Ultra micro POY
Far Eastern New Century Tainan Spinning Chung Shing Nanya Shinkong Formosa Asahi Hyosung
Weaving factory
A).Doeskin B).Pattern high twist imitation wool fabric C).Acetate fabric D).High elastic fabric
E).Shape memory fabric F).Ultra light fabric
G).Outdoor Fabric
EMX UMX SIH EMJ PTW
ACETATE PLUS ODW UHCRPT400 PTT LYCRA+Special Yarn light weight yarn
Nylon Yarn
Self yarn Shinkong or Nan Ya Self Yarn
Self Yarn Self Yarn INVISTASinkong Nan Ya Self Yarn
Self yarn Nan Ya Nan Ya Chung Shing Far Eastern Chainlon Zig Sheng
Dyeing and finishing factory
A).CAMAX finish B).Extremely black finish C).Emboss and Peach
D).Suede
E).Anti-bacteria, Anti-
odor, and Anti-
mosquito finish
F).Bonding
G).Water-repellent
coating
H).New Nylon finish
I).Water repellent, Oil
repellent, and soil
release finish
Polyester fabric Nylon fabric
Self-developed technology
- 89 -
J).YNY finish
K).Printing
L).Light coating
Staple & Yarn dyed factory
A).Yarn dyed plaid B).Stretch fabric C).Staple & filament interweaving D).Solid dyed
Cotton CVC T/C Rayon Modal Rayon Micro Fiber Spandex
TAIYUEN, FAREAST, TAINAN TAINAN, FAREAST, TUNG HO FAREAST EVEREST FORMOSA ASAHI, HYOSUNG
Knit Fabric factory
A).Computer Jacquard Fabric B).Stretch Fabric C).Seamless Garment
Nylon Polyester Dopdyed Spandex Staple Yarn
Everest Textile Far Eastern Fibertech
Zig Sheng
Chainlon
Nanya
Chung Shing
Formosa Asahi Tainan Spinning Hyosung
Far Eastern New Century Acelon Tung Ho Taiyuen The Lycra Company
- 90 -
5.2.4 Major Suppliers and Clients
A. Major Suppliers in the Last Two Calendar YearsUnit: NT$ thousands
Note: The changes in the top four purchasers are mainly caused by the changes in the company's product structure.
B. Major Clients in the Last Two Calendar Years None
5.2.5 Production in the Last Two Years Unit: NT$ thousands
2018 2019 2020 (As of March 31)
Company Name Amount Percent
Relation with
Issuer
Company Name Amount Percent
Relation with
Issuer
Company Name Amount Percent
Relation with
Issuer
1
Chung Shing Textile
Marketing Co., Ltd.
None
Chung Shing Textile
Marketing Co., Ltd.
None
Chung Shing Textile
Marketing Co., Ltd.
None
2 Far Eastern Fibertech Co.,Ltd.
Its subsidiary
is shareholder
of the company
Moreyoung Textile
(Sh)Co.,Ltd.
None Chain
Yarn Co., Ltd.
None
3
Far Eastern New
Century Corp.
Its subsidiary
is shareholder
of the company
Far Eastern Fibertech Co.,Ltd.
Its subsidiary
is shareholder
of the company
Far Eastern
Fibertech Co.,Ltd.
Its subsidiary
is shareholder
of the company
4 Chain Yarn Co., Ltd. None Chain Yarn
Co., Ltd. None
Far Eastern
New Century Corp.
Its subsidiary
is shareholder
of the company
Others Others Others Net Total Supplies
Net Total Supplies
Net Total Supplies
Year Output
Major Products
2019 2018
Capacity Quantity Amount Capacity Quantity Amount
Textured Yarn ( Ton) Fabric ( Thousand yards)
Total
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5.2.6 Shipments and Sales in the Last Two Years
Unit: NT$ thousands
5.3 Human Resources
5.4 Environmental Protection Expenditure
5.4.1 Total Losses
Any losses suffered by the company in the most recent fiscal year and up to the annual
report publication date due to environmental pollution incidents (including any
compensation paid and any violations of environmental protection laws or regulations
found in environmental inspection, specifying the disposition dates, disposition
reference numbers, the articles of law violated, and the content of the dispositions):
None
Year
Shipments
& Sales
Major Products
2019 2018
Local Export Local Export
Quantity Amount Quantity Amount Quantity Amount Quantity Amount
Textured Yarn ( Ton) 8,420 568,942 786 95,671 8,751 648,796 863 93,900
Fabric ( Thousand yards) 7,619 556,578 83,220 7,349,912 8,956 645,958 87,264 7,821,995
others 91,156 201,368 96,182 98,548
Total 1,216,676 7,646,951 1,390,936 8,014,443
Year 2018 2019 Data as of ending data
in the current year
Number of
Employees
Company cadres 1,184 279 266
Staff /technician 5,129 6,172 6,842
Total 6,313 6,451 7,108
Average Age 34.6 34.9 35.2
Average Years of Service 5.3 7.9 8.2
Education
Ph.D. 0.3% 0.1% 0.1%
Masters 3.8% 0.2% 0.2%
Bachelor’s Degree 28.5% 28.0% 21.0%
Senior High School 51.7% 52.0% 55.0%
Below Senior High
School 15.7% 19.7% 23.7%
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5.4.2 Countermeasures
The Company has taken into consideration any potential risks or violation of environmental and regulations in formulating its environmental management system. The Company also closely monitors developments in the government’s environmental policies and regulations to be able to design precautionary measures. For the pollution and wastes generated in the production process, the Company takes the following measures to protect the environment: Not applicable
5.5 Labor Relations
5.5.1 Employee Welfare
A. The welfare measures and the implementation situation:
Group insurance Year-end bonuses Welfare benefits (marriage Fertility Died
Serious injury and serious accident). The Welfare committee will provide the several
measures like Staff travel, Club activities, Birthday coupon, Shopping discount
program, Children scholarship and welfare subsidy for marriage, funeral, etc.
B. Advanced studies training and the implementation situation:
1. Everest makes human resource management regulations. Through the different
training to strengthen the job skill and professional knowledge, another way to
improve productivity and work quality for all employee.
2. According to the job needs and personal development potential, Everest will select
colleagues to participate in professional training
3. Everest Set up a complete regulatory database on the NOTES system to provide
all employees to browse and search to learning new knowledge and improve the
effectiveness of education
4. 2019, Everest provide 26 external training courses and 480 internal training
courses, Total training hours of 2,336 hours.
C. Retirement system and the implementation situation:
Employee retirement regulation applies to all employees (include the general
manager). Everest contributes the employee worker’s retirement pension reserve, and
follows the rules to handle employee pension payments. The employees who select
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the new pension system should contribute retirement pension to labor pension account
every month since July 1, 1994. For the employees select the old pension system,
Everest should contribute labor pension to labor pension account of the old system to
make up the difference of the current year before the end of March every year.
D. The implementation situation about the labor agreement and the protection of
the employee rights:
Everest creates a co-existence relationship with labors as a family. We pay attention to
opinions from every employee. Every labor could feedback any problems through
formal and informal communication channels and it make us to understand each other,
build consensus, and create good performance together.
E. The regulation of work environment and employee safety protection:
1. Everest took place the training courses about earthquake, firefighting and
poisoning disaster in 2019 and by the way to raise the awareness of employees to
escape from safety. There are 653 employees to attend those training courses.
2. Everest set up a professional unit (safety and health management unit) to charge
the occupational safety and health management plan, improve the hazards of safety
and health for all production units, formulate emergency response mechanism and
notification system. Everest could implement safety and health management
regulation to protect the safety and healthy of labor.
3. 2019 Everest provides the training courses about safety and health to improve the
labor’s job ability and consciousness of work hazard. Let’s to achieve the
purpose of employees' health on body, mind and soul. We take place 14 training
courses and 523 participants.
4. When Suppliers and contractors contract of work from Everest, Everest should
actively state the factory construction regulations in the Pre-engineering
agreement meeting to make sure the safety protection measures and the
management of construction process. There are 85 application of construction
safety permit in 108 year.
5. Everest has passed the certification of ISO45001 Occupational Health and Safety
Management Systems and ISO14001 Environmental Management System.
Everest keep going to apply the DNV certification every year. In the future we
will positively promote Safety Management Cleaner Production Pollution
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Prevention the saving of energy and resource waste reduction. We through
the continuous improvement of management to reduce the potential hazards from
environment and safety and raise the performance of environmental management
system.
6. Following the labor health protection regulation in 2019, Everest should provides
doctor health diagnostic services in factory every month and the service items
include:
1 Education and training of health guidance
2 Medical services
3 case-care
4 Health assessment and management of new workers Healthy
5 Blood pressure measurement
6 Medical consultation and health education services
7 Health education guidance
8 Set up the healthy resume
9 Select and arrange the employees
10 How many times does the doctor come to factory
11 Healthy courses
12 12 Blood donation
13 Prevention of occupational diseases.
There are 6553 employees to be recorded in the case and by the way to improve
labor’s health.
7. Everest participated in certification of healthy workplace which was held by
Health Promotion Administration, Ministry of Health and Welfare to get the
award of health promotion.
8. Everest check the legal dangerous machinery and equipment in time every year,
include the first pressure vessel Steam boiler LPG storage tank. There are
259 storage tank to be qualified to make sure the operation security for all
dangerous machinery and equipment and comply with laws and regulations.
9. The environment safety unit audit the safety of whole factory include roll clamp,
fallen, fire, electric shock Material fallen, touch with hazardous substances, etc.
We have done 259 improvements to provide the safety environment to all labors.
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5.5.2 Labor Disputes
A. Total Losses
Any losses suffered by the company in the most recent fiscal year and up to the annual report publication date due to labor disputes (including labor inspection results found in violation of the Labor Standards Act, specifying the disposition dates, disposition reference numbers, the articles of law violated, and the content of the dispositions): None
B. Countermeasures
Until now and in future Everest should estimate amount and plan response measures
for unknown None
5.6 Important Contracts
Agreement Counterparty Period Major Contents Restrictions
Long-term loan contract O-Bank Co., Ltd. 2017.10-2020.10
Medium and long-term credit agreement None
Long-term loan contract
Mega International Commercial Bank
Co., Ltd. 2017.02-2020.02
Medium and long-term credit agreement None
Long-term loan contract
Shin Kong Commercial Bank
Co., Ltd. 2018.07-2021.07
Medium and long-term credit agreement None
Long-term loan contract
Shin Kong Commercial Bank
Co., Ltd. 2019.07-2021.07
Medium and long-term credit agreement None
Long-term loan contract
Yuanta Commercial Bank
Co., Ltd. 2018.11-2020.11
Medium and long-term credit agreement None
Long-term loan contract
Hua Nan Commercial Bank,
Ltd. 2017.04-2020.04
Medium and long-term credit agreement None
Long-term loan contract
The Shanghai Commercial &
Savings Bank, Ltd. 2017.04-2020.04
Medium and long-term credit agreement None
Long-term loan contract KGI Bank 2019.12-2021.12
Medium and long-term credit agreement None
Long-term loan contract
E.SUNCommercial Bank,
Ltd. 2019.10-2021.10
Medium and long-term credit agreement None
Long-term loan contract
Mega International Commercial Bank
Co., Ltd. 2019.09-2024.09
Medium and long-term credit agreement None
Long-term loan contract
Bank SinoPac Co., Ltd. 2019.12-2020.04
Medium and long-term credit agreement None
Long-term loan contract
BANGKOK BANK PUBLIC CO., LTD. 2019.06-2022.06
Medium and long-term credit agreement None
- 96 -
VI. Financial Information
6.1 Five-Year Financial Summary
6.1.1 Condensed Balance Sheet
A. Consolidated Condensed Balance Sheet – Based on IFRS
Unit: NT$ thousands
Year
Item
Financial Summary for The Last Five Years
As of the
printing date of
this annual report
2015 2016 2017 2018 2019
Current assets
Property, Plant and Equipment
Intangible assets
Other assets
Total assets
Current liabilities
Before distribution After distribution
Non-current liabilities
Total liabilities
Before distribution After distribution
Equity attributable to shareholders of the parent
Capital stock
Capital surplus
Retained earnings
Before distribution After distribution
Other equity interest
Treasury stock
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Note 1: The surplus distribution plan is determined after the resolution of this (2019) annual
general meeting of shareholders.
Note 2: The financial information of the company on March 31, 2019 was reviewed by
accountants.
Non-controlling interest
Total equity
Before distribution After distribution
- 98 -
6.1.2 Condensed Statement of Comprehensive Income/Condensed Statement of
Income
A. Consolidated Condensed Statement of Comprehensive Income – Based on
IFRS
Note: The financial information of the company on March 31, 2019 was reviewed by
accountants.
Year
Item
Financial Summary for The Last Five
Years
As of the printing date of
this annual report
2015 2016 2017 2018 2019
Operating revenue
Gross profit
Income from operations
Non-operating income
Non-operating expenses
Income before tax
Net income (Loss) Other comprehensive income (income after tax) Total comprehensive income Net income attributable to shareholders of the parent Net income attributable to non-controlling interest Comprehensive income attributable to Shareholders of the parent Comprehensive income attributable to non-controlling interest Earnings per share
- 99 -
Year Accounting Firm CPA Audit Opinion
2015 Deloitte & Touche
Jiz-hen Li & Wang,Yan-Jing
Modified Unqualified Opinion
2016 Deloitte & Touche
Jiz-hen Li & Wang,Yan-Jing
Matter Paragraph Unqualified Opinion
2017 Deloitte & Touche
Jiz-hen Li & Wang,Yan-Jing
Matter Paragraph Unqualified Opinion
2018 Deloitte & Touche
Jiz-hen Li & Li-yuan Guo
Matter Paragraph Unqualified Opinion
2019 Deloitte & Touche
Jiz-hen Li & Li-yuan Guo
Matter Paragraph Unqualified Opinion
6.1.3 Auditors’ Opinions from 2015 to 2019
- 100 -
6.2 Five-Year Financial Analysis
A. Consolidated Financial Analysis – Based on IFRS
Year
Item
Financial Analysis for the Last Five Years
As of the
printing date of this annual report
2015 2016 2017 2018 2019
Financial structure (%)
Debt Ratio Ratio of long-term capital to property, plant and equipment
Solvency (%) Current ratio Quick ratio Interest earned ratio (times)
Operating performance
Accounts receivable turnover (times) Average collection period Inventory turnover (times) Accounts payable turnover (times) Average days in sales Property, plant and equipment turnover (times) Total assets turnover (times)
Profitability
Return on total assets (%) Return on stockholders' equity (%) Pre-tax income to paid-in capital (%) Profit ratio (%) Earnings per share (NT$)
Cash flow
Cash flow ratio (%)
Cash flow adequacy ratio (%)
Cash reinvestment ratio (%)
Leverage Operating leverage
Financial leverage
Analysis of changes in the combined financial ratio increase and decrease ratio of more than 20% in 2019 and 2018: 1. The ratio of long-term funds to real estate, plant and equipment has increased: the long-termborrowing has increased due to overseas expansion2. Decrease in interest protection multiples: the pre-tax net loss incurred by the maindepartment and the increase in interest expenses
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6.3 Audit Committee’s Report for the Most Recent Year
6.4 Consolidation Financial Statements for the Years Ended December 31, 2019
and 2018, and Independent Auditors’ Report
Please refer to the Chinese annual report.
6.5 Individual Financial Statements for the Years Ended December 31, 2019 and
2018, and Independent Auditors’ Report
Please refer to the Chinese annual report.
3. Decrease in return on assets: the main department suffered a pre-tax net loss and increasedassets at the end of the period4. Decreased return on equity: net loss before tax incurred by the principal5. Decrease in net profit rate: net loss before tax occurred in the main department6. Earnings per share decreased: the main department suffered a net loss before tax7. Decrease in cash flow ratio: decrease in net cash inflow from main business activities8. The cash flow allowable ratio decreased: the net cash inflow of main business activitiesdecreased, overseas expansion of factory investment, increased capital expenditure9. Cash reinvestment ratio decreased: net cash inflow from main business activities decreased10. Decreased operating leverage: caused by operating losses incurred by the main department11. Decreased financial leverage: The main department incurred business losses and increasedinterest expenses
To: The General Meeting of Shareholders as of year 2020 The board of directors submitted the company's 2019 business report, financial
statements and surplus distribution proposals, of which the financial statements were audited by the accountants of Deloitte & Touche Certified Public Accountants, and an audit report was issued.
The above business report, financial statements and surplus distribution proposal were examined by the Audit Committee and found to be without improper circumstances, and the report was submitted in accordance with the provisions of Article 14-4 of the Securities Exchange Act and Article 219 of the Company Law. Please verify.
Everest Textile Co., Ltd. Independent Director: Yin Chi Chuang March 19, 2020
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VII. Review of Financial Conditions, Financial Performance,
and Risk Management
7.1 Analysis of Financial Status
Unit: NT$ thousands
Year
Item 2019 2018
Difference
Amount %
Current Assets
Fixed Assets
Other Assets
Total Assets
Current Liabilities
Long-term Liabilities
Total Liabilities
Capital stock
Capital surplus
Retained Earnings
Other Adjustments
Total Stockholders'
Equity
Note: Analysis and explanation of items with a change of 20% and over 10 million
1. Increase in other assets: the main right-of-use asset recognized by IFRS16.
2. Increase in non-current liabilities: mainly due to the increase in long-term loans
and lease liabilities recognized by IFRS16.
3. Retained Earnings reduction: the main department has a net loss after tax.
- 103 -
7.2 Analysis of Financial Performance
Unit: NT$ thousands
Effect of changes on the company’s future business: The Company’s business
scope has not changed significantly.
Future response actions: Not applicable.
Year
Item 2019 2018
Difference
Amount %
Net Sales Cost of Sales Gross Profit Operating Expenses Operating Income Non-operating Income and Gains Non-operating Expenses and Losses Income Before Tax Tax Benefit (Expense) Cumulative Effect of Change in Accounting Principles Analysis of changes in financial ratios: (1) Explanation of change analysis:1. Decrease in operating profit: The main reason is that the new overseas plant is put intooperation and the operating cost is recognized.2. Decrease in non-operating income and expenses: the main department's foreign currencyexchange losses increased.3. Increase in interest expenses: The main department has increased investment financing fornew overseas factories.(2) It is expected that the company will reduce the risks of the enterprise through theglobalization of the Group's global resources to optimize the product supply chain, innovateproduct services and establish a new electronic business resource sharing platform under theChina-US trade war and the COVID-19. At the same time, as overseas factories enter thestage of mass production operation, actively take orders and give full play to scale benefits,future revenues and profits are expected to grow gradually.
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7.3 Analysis of Cash Flow
7.3.1 Cash Flow Analysis for the Current Year
Unit: NT$ thousands
7.3.2 Remedy for Cash Deficit and Liquidity Analysis
7.3.3 Cash Flow Analysis for the Coming Year
Cash and Cash Equivalents, Beginning of
Year (1)
Net Cash Flow from Operating Activities
(2)
Cash Outflow
(3)
Cash Surplus (Deficit) (1)+(2)-
(3)
Leverage of Cash Deficit
Investment Plans Financing Plans Not applicable Not applicable
Year Item
2019 2018 Variance (%)
Cash Flow Ratio (%) Cash Flow Adequacy Ratio (%) Cash Reinvestment Ratio (%) Analysis of financial ratio change: Cash flow (cash flow ratio, cash reinvestment ratio) decreased: Mainly due to the decrease in net cash flow from operating activities in 2019.
Estimated Cash and
Cash Equivalents, Beginning
of Year (1)
Estimated Net Cash
Flow from Operating Activities
(2)
Estimated Cash
Outflow (Inflow)
(3)
Cash Surplus (Deficit)
(1)+(2)-(3)
Leverage of Cash Surplus (Deficit)
Investment Plans
Financing Plans
Not applicable Not applicable A. Analysis of change in cash flow in the current year:(1) Business activities: This year's revenue is expected to decline by 16.2% comparedwith 2019, mainly affected by the new coronary pneumonia epidemic.(2) Investment activities: The estimated capital expenditure is approximately NTD80,000, which is mainly related to equipment renewal and maintenance.(3) Financing activities: In order to fully meet the capital needs of the operations ofeach plant, actively maintain sufficient financing quotas, and structure a soundfinancial structure, relatively cheap capital costs and appropriate financing currencyallocation.
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7.4 Major Capital Expenditure Items
7.4.1 Major Capital Expenditure Items and Source of Capital
Unit: NT$ thousands
7.4.2 Expected Benefits
A. Estimated Increase in Production, Sales, and Gross Profits
1. New intelligent equipment related to false twisting, weaving, dyeing and
finishing this year to increase productivity and reduce maintenance costs.
2. Continue to invest in energy conservation and improvement to reduce
production costs and increase competitiveness.
B. Other Benefits None.
7.5 Investment Policy in the Last Year, Main Causes for Profits or Losses, Improvement Plans and Investment Plans for the Coming Year
None
Project
Actual or Planned
Source of Capital
Actual or Planned Date of
Completion
Total Capital
Actual or Expected Capital Expenditure
2017 2018 2019 2020
Purchase equipment
Working Capital 2017
Purchase equipment
Working Capital 2018
Purchase equipment
Working Capital 2019
Purchase equipment
Working Capital 2020
- 106 -
7.6 Analysis of Risk Management
7.6.1 Effects of Changes in Interest Rates, Foreign Exchange Rates and Inflation on Corporate Finance, and Future Response Measures
(1) Interest rateFaced with the slowdown in global economic growth and the negative impact of theUS-China trade war on the United States, the Fed will cut interest rates three times in2019, one yard each. In 2020, affected by the new coronary pneumonia epidemic, theFederal Reserve will cut interest rates twice in March for a total of 6 yards, reducingthe federal funding rate target range to 0% to 0.25%. In addition to interest rate cuts,the US government launched an "unrestricted quantitative easing" policy and a $2trillion plan to boost the economy and stabilize the market. My country's governmentbank has also lowered interest rates by 1 yard and the discount rate has reached 1.125%,a record low because of COVID-19's impact on the global economy. And through theoperation of deposit certificates, increase the liquidity of the capital market. In recentyears, domestic funds have been loose and interest rates have been low and stable, butthe international political and economic situation has changed rapidly. The companywill continue to commit to the control of short-term and medium- and long-termfinancing costs, and in order to establish a sound financial structure, moderatelyincrease the proportion of medium- and long-term financing. Create a stable source offunds.
(2) Foreign exchange ratesThe company's revenue is mainly evaluated in U.S. dollars, and the depreciation of theU.S. dollar will cause the risk of exchange loss. The company will take the opportunityto borrow U.S. dollar to offset exchange rate risk arising from U.S. dollar receivableson the balance sheet. In the future, we will continue to observe changes in theinternational financial situation to properly respond, and try to eliminate the largefluctuations in foreign exchange gains and losses that will adversely affect actualoperations.
(3) InflationThe General Statistics Office estimates that my country's average annual consumerprice index (CPI) growth rate in 2020 will be 0.62%, and the growth rate is stillmoderate. The company will continue to implement various measures to reduce overalloperating costs.
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7.6.2 Policies, Main Causes of Gain or Loss and Future Response Measures with Respect to High-risk, High-leveraged Investments, Lending or Endorsement Guarantees, and Derivatives Transactions
1. The Company engages in derivative financial commodity transactions mainly inaccordance with the "Procedure for Acquiring or Disposing of Assets". Moreover,hedging strategies are based on the principles of stability and conservatism.2. The company is handled in accordance with the provisions of "OperationProcedures for Fund Loans and Others" and "Operation Procedures for EndorsementGuarantee", and the current targets are 100%-owned subsidiaries. In the future, wewill continue to do a good risk assessment and manage the company's credit risk toavoid adversely affecting the company.
7.6.3 Future Research & Development Projects and Corresponding Budget:
1. Continue to improve the processing technology after dyeing and finishing and the
development of environmentally friendly and non-toxic products.
2. Development of quality materials, combined with intelligent production
management, to reduce the use of pharmaceuticals.
3. Continuing the above-mentioned technological development, expanding the
research field and intensive cultivation of technology and implementing industry
science and technology.
4. In 2019, 3 to 4% of R&D expenses of operating income are expected to be
invested.
7.6.4 Effects of and Response to Changes in Policies and Regulations Relating to
Corporate Finance and Sales: None
7.6.5 Effects of and Response to Changes in Technology and the Industry
Relating to Corporate Finance and Sales: None
7.6.6 The Impact of Changes in Corporate Image on Corporate Risk
Management, and the Company’s Response Measures: None
7.6.7 Expected Benefits from, Risks Relating to and Response to Merger and
Acquisition Plans: None
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7.6.8 Expected Benefits from, Risks Relating to and Response to Factory
Expansion Plans: None
7.6.9 Risks Relating to and Response to Excessive Concentration of Purchasing
Sources and Excessive Customer Concentration: None
7.6.10 Effects of, Risks Relating to and Response to Large Share Transfers or
Changes in Shareholdings by Directors, Supervisors, or Shareholders with
Shareholdings of over 10%: None
7.6.11 Effects of, Risks Relating to and Response to the Changes in Management
Rights: None
7.6.12 Litigation or Non-litigation Matters: None
7.6.13 Other Major Risks:
In response to information security risks, the company hires external professionals to
review the relevant operating systems for deficiencies, and the evaluation results show
no major abnormalities.
- 109 -
VIII. Special Disclosure
8.1 Summary of Affiliated Companies 8.1.1Organization Chart
100% 100%
100%
Yue Ding Industry Co., Ltd.
Subsidiaries
0.21%
Everest International Develop Investment Co., Ltd
Everest Textile (HK) Co., Ltd
Everest Investment (Holding) Ltd
Everest Textile (Shanghai) Ltd
Everest Textile (Thailand) Co., Ltd
Everest Textile Co., Ltd
99.3% 100%
99.9%
Everest Apparel (HK) Limited
Everest International (HK) Limited
Everest Apparel
(Haiti) S.A.
Everest Apparel
(Ethiopia) SC
Everest USA Holding, INC
Everest Textile
USA, LLC
Everest Development USA, LLC
100%
100%100%
100%100%
100%
- 110 -
8.1.2 Private Placement Securities in the Most Recent Years: None
8.1.3 Name, date of establishment, address, paid-in capital and main business
items of the affiliated company Unit: NT$ thousands
Name of company Founding Date
Address Paid-in capital
Main business items
Everest Investment (Holding) Ltd
Jul 1997 Clarendon House 2 Church Street Hamilton HM 11 Bermuda
214 Investment industry
Everest International Develop Investment Co., Ltd
Jun 1998 2F, No. 168, Dunhua North Road, Taipei City
1,446,000 Investment industry
Everest Textile (HK) Co., Ltd
Jul 1993 Room 3006, Roche Commercial Centre, 788 Cheung Sha Wan Road, Kowloon, Hong Kong
2,966 Trader
Everest Textile (Thailand) Co., Ltd
Jul 1993 13th Floor, Ploenchit Tower,898,Ploenchit Road Lumpini Pathumwan, Bangkok 10330
701,063 Textile industry
Everest Textile (Shanghai) Ltd
Jul 2006 31st Floor, No. 800 Dongfang Road, Pudong New District, Shanghai, China
980,349 Textile industry
Everest USA Holding, INC
Dec 2016 850 New Burton Road, Suite 201,Dover,Kent Country, DE 19904
964,343 Investment industry
Everest Development USA, LLC
Dec 2016 1331,West Main Street, Forest City, NC 28043
79,170 Investment industry
Everest Textile USA, LLC
Oct 2016 1331,West Main Street, Forest City, NC 28043
885,173 Textile industry
Everest Apparel (HK) Limited
Dec 2016 Unit A,11/F., Lippo Leighton Tower 103-109 Leighton Road Causeway Bay, Hong Kong
685,001 Investment industry
Everest International (HK) Limited
Dec 2016 Unit A,11/F., Lippo Leighton Tower 103-109 Leighton Road Causeway Bay, Hong Kong
964,343 Investment industry
Everest Apparel (Ethiopia) SC
Feb 2016 Hawassa Industrial Park Phase 1+1 Shed #12-13, Hawassa, Ethiopia
411,221 Garment industry
Everest Apparel (Haiti) S.A.
Feb 2016 Parc Industriel de Caracol, Route de Caracol, No. 14, Caracol, Département du Nord-Est, HT 2340, Haïti
273,780 Garment industry
Note: Industries covered by the business of the overall relationship enterprise: The main
business of the overall relationship enterprise is the manufacturing and sales of various
textiles.
8.1.4 Information on directors, supervisors and general managers of related companies.
Unit: shares; % Name of company Job Title Name or Rep. Number of shares
Holding shares Ratio Everest Investment (Holding) Ltd Chairman
Director Director
Everest Textile Co., Ltd Ching Lai Yeh Jian cheng Wang Kao Shan Wu
1,300 100%
Everest International Develop Investment Co., Ltd
Chairman President Director Director Director Ind. Director
Everest Textile Co., Ltd Charles Wang Ching Lai Yeh Wen Kuei Hsiang Hsien Shen Hung Kao Shan Wu Chin Chueh Kao
144,600,000 100%
- 111 -
Everest Textile (HK) Co., Ltd Chairman
Everest Textile Co., Ltd Hui Min Cheng
695,000 5,000
99.30% 0.70%
Everest Textile (Thailand) Co., Ltd Chairman
Director Director Director Director Director Director
Everest Investment (Holding) Ltd Ching Lai Yeh Johnny Hih Jing hai Liang Hsien Shen Hung Kin son Du Kao Shan Wu Wen Kuei Hsiang
79,999,993 1 1 1 1 1 1 1
99.90%
Everest Textile (Shanghai) Ltd Chairman
Director Director Director Director Director Director
Everest Investment (Holding) Ltd Ching Lai Yeh Kin son Du Min zi Chen Kao Shan Wu Wen Kuei Hsiang Ming Yi Hsiao Xian zhong Li
Everest International (HK) Limited Chairman
Director Director Director Director
Everest International Develop Investment Co., Ltd Ching Lai Yeh Jing hai Liang Wen Kuei Hsiang Zhen Ni He Min Ling Ma
31,300,000 100%
Everest USA Holding, INC Chairman
President Director Director Director
Everest International (HK) Limited Ching Lai Yeh Jing hai Liang Wen Kuei Hsiang Ming Yi Hsiao Chin Chueh Kao
1,000 100%
Everest Development USA, LLC
Chairman President Director Director Director
Everest USA Holding, INC Ching Lai Yeh Jing hai Liang Wen Kuei Hsiang Ming Yi Hsiao Chin Chueh Kao
2,500,000 100%
Everest Textile USA, LLC Chairman
President Director Director Director
Everest USA Holding, INC Ching Lai Yeh Jing hai Liang Wen Kuei Hsiang Ming Yi Hsiao Chin Chueh Kao
28,800,000 100%
Everest Apparel (HK) Limited
Chairman Director Director Director Director
Everest International Develop Investment Co., Ltd Ching Lai Yeh Wen Kuei Hsiang Chin Chueh Kao Zhen Ni He Min Ling Ma
22,000,000 100%
Everest Apparel (Ethiopia) SC Chairman
President Director Director Director
Everest Apparel (HK) Limited Ching Lai Yeh Shi hui Chen Wen Kuei Hsiang Chin Chueh Kao Sen Mao Wu
361,953 100%
Everest Apparel (Haiti) S.A. Chairman
President Director
Everest Apparel (HK) Limited Ching Lai Yeh Chin Chueh Kao Wen Kuei Hsiang
4,000 100%
- 112 -
8.1.5 Operational overview of related companies Name Capital Total
Assets Total Liability
Owner Equity
Revenue Operation Income
Net Income
EPS
Everest Investment (Holding) Ltd Everest International Develop Investment Co., Ltd Everest Textile (HK) Co., Ltd Everest Textile (Thailand) Co., Ltd Everest Textile (Shanghai) Ltd Everest International (HK) Limited Everest Apparel (HK) Limited Everest USA Holding, INC Everest Development USA, LLC Everest Textile USA, LLC Everest Apparel (Ethiopia) SC Everest Apparel (Haiti) S.A.
8.1.6 Related companies consolidated financial statements: Not applicable
8.1.7 Relationship report:
Please refer to the Chinese annual report.
8.1.8 Overview of the relationship between subordinate companies and control
companies Parent
Company Control Reason Holding Shares and Pledged
Shares Staff To Serve As
Directors Or Managers Number of
Shares % Pledged
Shares Job Title Name
Yue Ding Industry Co., Ltd.
Appointed personnel are hired as the
company President 1,082,744 0.21% 0 President Ching-Lai
Yeh
8.2 Private Placement Securities in the Most Recent Years: None
- 113 -
8.3
The
Sha
res i
n th
e C
ompa
ny H
eld
or D
ispo
sed
of b
y Su
bsid
iari
es in
the
Mos
t Rec
ent Y
ears
Subs
idia
ry
Cap
ital
Sour
ce
Hol
d%
Dat
e A
cqui
red
Shar
es
Am
ount
Dis
pose
d Sh
ares
A
mou
nt
P &
L
Shar
es A
mou
nt
At D
ate
Pled
ged
Gua
rant
ee fo
r Su
bsid
iary
Lo
ans t
o su
bsid
iarie
s
Ever
est
Inte
rnat
iona
l D
evel
op
Inve
stm
ent
Co.
, Ltd
1,44
6,00
0 O
rigin
al
subs
crip
tion
100
API
C D
ivid
end
915,
761
Shar
es
NTD
th
ousa
nd
-3,3
63
Shar
es
26,0
67 th
ousa
nd
shar
es
Am
ount
N
TD th
ousa
nd
332,
836
Non
e N
TD 4
80
mill
ion
Non
e
API
C D
ivid
end
943,
234
Shar
es
API
C D
ivid
end
647,
687
Shar
es
API
C D
ivid
end
674,
524
Shar
es
Div
iden
d Fr
om
Earn
ing
1,34
8,26
3 Sh
ares
10
,000
thou
sand
shar
es
NTD
thou
sand
130
,000
D
ivid
end
From
Ea
rnin
g 50
1,09
6 Sh
ares
D
ivid
end
From
Ea
rnin
g 51
1,11
8 Sh
ares
- 114 -