Stock Code: 2385
Annual Report is available at Company Website: http://www.chicony.com.tw/
Market Observation Post System: http://mops.twse.com.tw
Chicony Electronics Co., Ltd. 2022 Annual Report
Printed on April 1, 2023
- The names, title, telephone numbers, and e-mail addresses of the Spokesperson and Deputy spokesperson:
Spokesperson: Name: Lin, Yu-Ling
Title: Vice General Manager of the Financial and Administrative Department
Telephone: +886-2-6626-6788
Deputy Spokesperson: Name: Yang, Wan-Ting
Title: Director of Investor Relations Division of the Financial and Administrative Department
Telephone: +886-2-6626-6788
Spokesperson email address: public@chicony.com -
Headquarter, branch office and factories:
Address of Headquarter: No. 69, Sec. 2, Guangfu Rd., Sanchong Dist., New Taipei City 241, Taiwan (R.O.C.)
Phone number of Headquarter: +886-2-6626-6788 - The name, address, website, and telephone number of the stock transfer agent: Name: CTBC Bank
Address: 5F, No.83, Sec. 1, Chongcing S. Rd., Jhongjheng District, Taipei City 100, Taiwan (R.O.C.)
Phone number: +886-2-6636-5566 (stock code: 2385)
Website: http://ecorp.ctbcbank.com/cts/index.jsp -
The names, office name, address, website, and telephone number of the verifying CPAs of the most recent financial report:
CPAs: Chen, Chin-Chang / Weng, Shih-Jung
Company: PricewaterhouseCoopers Taiwan
Address: 27F, No. 333, Sec. 1, Keelung Rd., Xinyi Dist., Taipei City 110, Taiwan (R.O.C.)
Phone number: +886-2-2729-6666
Website: http://www.pwc.tw/ -
The name of the Exchange where the overseas securities are listed and the method for querying the information of the overseas securities:
None - Company website: http://www.chicony.com.tw
Chicony Electronics CO., Ltd. | ||
Table of Contents | ||
Page | ||
I. Letter to Shareholders | ||
1 | 2022 Performance (including implementation results, financial revenue and | |
expenditure, profitability analysis, research and development status) | 1 |
2. 2023 Business Project Summary (macroeconomic environment, industry trend,
guidelines for management, important production and marketing policies) | 1 |
3. Company development strategy and impact from external competition, laws and
regulations, and the overall operating environment in the future | 5 |
II. Company Profile
1. | Date of Incorporation | 6 |
2. | Company history and development | 6 |
III. Corporate Governance Report
1. Organization System (including the structure of organization and operations in
major departments) | 12 |
2. Directors (Including Professional Qualifications, Diversity and Independence of the Board Meeting), Profiles and Remuneration (in association with future
performance) of Managers | 15 | ||
3. | Corporate Governance in action | …35 | |
(1) | Operation Status of Board of Directors | 35 |
- Operation Status of Audit Committee or Supervisor's Participation in the
Board of Directors | 37 |
- The difference Between the Corporate Governance Implementation and the Corporate Governance Best Practice Principles for TWSE/GTSM-Listed
Companies and Reasons | 41 | |
(4) | Remuneration Committee, Organization, Function, and Operation | 56 |
- Status of Promotion of Sustainable Development and the Difference from the Sustainability Development Best Practice Principles for TWSE/GTSM
Listed Companies and reasons from the differences | 59 |
- The Company's Performance of Ethical Corporate Management and the Difference from the Ethical Corporate Management Best Practice Principles for TWSE/GTSM Listed Companies, and the reasons for the
difference | 74 | |
(7) | Information on Corporate Governance Rules and Related Regulations | 83 |
- Other Important Information to Increase Understanding of Corporate
Governance Operations | 83 |
- Status of Implementation of Internal Control System (including Statement
of Internal Control and Audit Report of CPA) | 84 |
- The Punishment Inflicted on the Company or Its Internal Personnel, or Any Disciplinary Penalty by the Company Against Its Internal Personnel for
Violation of the Internal Control System | 86 |
- Important Resolutions Made by the Shareholders' Meeting and Board
Meeting (including the implementation of the Shareholders' Meeting) | 86 |
- The Main Contents of Important Resolutions Passed by the Board of Directors Regarding in which Directors have Voiced Differing Opinions on
the Record or in Writing | 90 |
(13) Summary of Resignation or Dismissal of Personnel (including the | ||
Chairman of Board, President, Financial Manager, Accounting Manager, | ||
Internal Audit Manager, Chief corporate governance officerand R&D | ||
Manager, etc.,) | 90 | |
4. | Auditing fees for the CPAs | 91 |
5. | Replacement of CPAs | 91 |
6. The Company's Chairman, General Manager, or any Managerial Officer in Charge of Finance or Accounting Matters has in the Most Recent Year Held a Position at
the Accounting Firm of its CPA or at an Affiliated Enterprise's Situation | 92 |
7. The Transfer of Equity Shares or Change in the Pledge of Shares under lien by the
Directors, Managers, and Shareholders Holding More than 10% of the Shares | 93 | |
8. | Information on Relationships of the Top Ten Shareholders | 95 |
9. | Comprehensive shareholding ratio | 96 |
IV. Status of Financing
1. | Capital and Shares | 97 | |
(1) | Sources of equity capital | 97 | |
(2) | Structure of shareholders | 98 | |
(3) | Dispersion of equity shares | 98 | |
(4) | List of major shareholders | 99 |
- Market price, net value, earnings, and dividends per share and related
information | 99 |
- Dividend Policy and Distribution of Earnings at this Shareholders'
Meeting | 100 |
- The effect of the proposal for paying stock dividends in the current session of the Shareholders Meeting on the operation performance, and earnings
per share of the Company | 100 | ||
(8) | Remuneration to the employees, Directors | 100 | |
(9) | The repurchase of Company shares by the Company | 101 | |
2. | Information on Corporate Bonds | 101 | |
3. | Information on Preferred Shares | 101 | |
4. | Information on Overseas Depository Receipts | 101 | |
5. | Information on Employee Stock Options (ESO) | 101 | |
6. | Information on Restricted Stocks | 101 |
7. Status of New Share Issuance in Connection with Mergers and Acquisitions
(including mergers, acquisitions, and divisions) or Transferred Company Shares | 101 | |
8. | The implementation of the fund utilization plan | 101 |
V. Operational Highlights
1. | Business Overview | 102 | |
(1) | Business Scope | 102 |
- Industry Overview (including industry status, development, and the interrelationships among the industry of the upstream, midstream, and
downstream) | 104 | ||
(3) | R&D and Technology Overview | 109 | |
(4) | Long-term and Short-term Business Development Plans | 113 | |
2. | Market, Production, and Sales Overview | 113 | |
(1) | Market Analysis | 113 | |
(2) | Primary Purpose of the Products and Production Process | 118 |
(3) | Supply of Key Materials | 122 |
- Names of the Vendors (Customers) Accounting for More Than 10% of the Total Purchase (Sale), and the Amount of Purchase (Sale) in Proportion to
Total Purchase (Sale) | 122 | |
(5) | Production Volume Table | 124 |
(6) | Sales Volume Table | 124 |
3. Number of Employees, Average Seniority, Average Age, and Education
Distribution Ratio | 124 | |
4. | Information on Environmental Protection Spending | 125 |
5. | Labor Relations | 125 |
6. | Management of Information and Communication Security | 127 |
7. | Vital contracts | 132 |
VI. Financial Highlights
1. Concise Balance Sheet, Statement of Comprehensive Income, and CPS's Audit
Situation of the Recent 5 Years | 133 | ||
2. | Financial Analysis of the Recent 5 Years | 137 | |
3. | The Audit Committee's Review Report in the Financial Report in 2021 | 143 | |
4. | 2021 | Consolidated Financial Statements with Subsidiaries Audited by the CPA | 143 |
5. | 2021 | Parent company only Financial Statements Audited by the CPA | 143 |
6. Any Occurrence of Financial Difficulty of the Company and Affiliated Enterprises,
and the Impact on the Company's Financial Position | 143 | |
VII. Review and Analysis of Financial Position, Performance and Risks | ||
1. | Financial Position | 144 |
2. | Financial performance | 145 |
3. | Cash flows | 145 |
4. Major capital expenditures and their effect on the financial position and operation
of the Company | 146 |
5. Direct investment policy and the main cause of profit or loss, remedial plan, and
investment plan for the year ahead | 146 | |
6. | Analysis and Assessment of Risk Issues | 148 |
- The effect of fluctuation of interest rate, exchange rate, and inflation on the
income position of the Company, and remedy: | 148 |
- The policy of engagement in high risk and high leverage investment, loaning to a third party, undertaking of endorsements/guarantees in favor of a third party, and derivative trade, and the main cause of profit or loss
and remedy in the future | 148 | |
(3) | R&D plan in the future, and projected commitment of R&D expenses | 149 |
- The effect of changes in important policies and the regulatory environment at home and overseas on the financial and operation performance of the
Company and the remedy | 149 |
- The effect of changes in the technological (including the risk of information security) and industrial environment on the financial and
operation performance of the Company and the remedy | 149 |
- The effect of changes in corporate image on crisis management of the
enterprise and remedy | 149 |
- Expected results and possible risks from mergers and acquisitions, and the
remedy | 149 | |
(8) | Expected results and possible risks from | capacity expansion, and the |
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Chicony Electronics Co. Ltd. published this content on 08 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2023 08:44:10 UTC.