Focusing on ESG issues is a global trend and the only way for enterprises to achieve sustainable management. According to the Global Risks Report 2023 by the World Economic Forum, more than half of the top ten future risks are related to environmental or social issues. The report highlights the need for greater attention to climate change, natural resources, biodiversity, and ecosystems. Climate change, in particular, is considered the subsequent systemic risk with profound impacts on global economic and financial market stability.

    Namchow, leveraging its strengths built in Taiwan, Thailand, and Mainland China, has successfully diversified risks in its operations. Recently, by integrating the Group's resources and the accumulated long-term expertise, Namchow has connected the trade organizations formed across these three regions, achieving operational synergy and establishing a solid foundation for long-term sustainable development.

       Forward-Looking Governance and With Wisdom Leading the Future

    Namchow is focused on the Southeast Asian market by establishing Thailand as its production base and development core. Namchow Thailand's new plant Phase II construction project is expected to be commissioned in the second half of 2024, focusing on producing rice crackers and upgrading floury food products. Through the automation of the new plant, we expect to significantly increase our production capacity and further consolidate our competitive advantages in the Southeast Asian market.

    Besides directly operating in the local market in Thailand, Namchow is also planning to expand trade with neighboring countries. Through distribution and agency partnerships, products from the Thailand Factory will be exported to Singapore, Myanmar, Malaysia, Indonesia, Vietnam, and other countries, targeting local retail chains and the catering industry. With the expansion and growth of market demand, Namchow is also planning to invest in a Phase III plant in Thailand.

       Continuous Innovation and Commitment to Food Safety

    Namchow remains dedicated to its core business by continuously investing in equipment, talent, and research and development across its product lines, including baking fats-related products, frozen dough, rice products, and ice cream. Currently, revenue from the food business accounts for over 97% of the Group's total revenue. In the future, Namchow will continue to develop high-quality food products that align with food safety and health trends while expanding the supply of materials needed for customer applications to meet the constantly changing demands.

    Ensuring food safety is the most essential commitment in the food industry. We must continuously strive to seek new methods and technologies to safeguard consumer health. Every step, from production to distribution to the consumer market, requires strict supervision and management. It is crucial to adhere to high production standards, optimize logistics and transportation, and strengthen food safety monitoring and traceability systems. Through continuous innovation and improvement, we aim to establish a safe and reliable food supply chain, ensuring that consumers can enjoy our products with confidence.

       Energy Efficiency and Carbon Reduction and Promoting Green Development

    The year 2023 is on record as the warmest year globally, once again highlighting the severity and urgency of climate change. To achieve the goal of net-zero emissions by 2050, more concrete actions must be taken. These include gradually phasing out fossil fuels and transitioning to clean energy; improving energy efficiency to reduce waste; encouraging low-carbon transportation methods to decrease car usage; protecting biodiversity to absorb carbon dioxide from the atmosphere; and enhancing climate risk management capabilities to address the risks posed by extreme weather events and climate change.

    Facing the challenges of the carbon pricing era, it is necessary to rethink and adjust the Group's economic activity strategies, viewing carbon pricing as one of the important mechanisms for transitioning to a more environmentally friendly and sustainable development model. Actively develop low-carbon technologies and propose related solutions to reduce greenhouse gas emissions and improve energy efficiency. This contributes to collectively addressing the global challenge of climate change and promoting the sustainable development of long-term economic activities.

       Healthy Workplace and Building an Inclusive Society Together

    At Namchow, we put people first and are committed to creating a healthy work environment and fostering continuous growth. The Company pursues excellence and innovation, encourages collaboration and sharing, and emphasizes social responsibility and respect for diversity. Guided by the principles of "Knowing changes, Responding to change, Seeking to change, and Remaining unchanged," Namchow integrates personal growth with organizational development to establish a happy workplace culture. We also encourage employees to actively participate in training and continuous learning to improve themselves constantly and achieve personal and professional growth.

    The Company has always adhered to the concept of altruism, incorporating public welfare into its business operations. Altruism is reflected not only in giving back and supporting society but also in showing care and respect for employees and business partners. Namchow also actively initiates and participates in local community development, aiming to build prosperous, distinctive, and long-lasting communities, an ongoing social care project the Company has been committed to.

    It has been 72 years since Namchow was founded. Experiencing countless changes in the times, it can always seize the opportunities and jump after passing through turning points. Committed to upholding integrity, we have consistently identified trends in the social and economic landscape to enhance our corporate resilience. We are also committed to consistently protecting consumer rights and creating greater investment returns for all stakeholders and shareholders.