远东新世纪召开2019年度股东常会

　　远东新世纪公司2019年度股东常会於6月28日假台北市国军英雄馆举行，由徐旭东董事长率领经营团队出席，共同向股东报告公司生产、投资及土地开发等三大营运版图绩效及发展方向。2018年远东新世纪合并营收为新台币（以下同）2,287亿元，成长5%，税後净利120.3亿元，成长49%，每股盈余2.41元，股东会通过配发现金股利1.8元，创下近七年以来新高，现金股利殖利率5.3%（依6月27日收盘股价计算）。今年第一季远东新世纪营收成长加速，合并营收达619亿元，较去年同期成长二成，税後净利20.2亿元。

生产事业：发挥全球运筹优势　引领循环经济发展
创新突破─促进台湾产业转型升级
　　远东新世纪自1949年在台成立至今，伴随台湾经济成长与产业发展轨迹，是台湾产业转型重要推手，并以卓越的研发实力，推升台湾站上国际舞台。自2001年成立研究发展中心至今近二十年，长期培育台湾产业研发人才，聚焦於聚酯材料、纤维纺织、新材料、能源生技等四大领域，开发多项世界第一产品，研究成果斐然。
远东新世纪以台湾为研发基地与营运总部，不但在台湾打造横跨上游石化、中游化纤、下游纺织的聚酯产业链，并持续导入多项节约能源与智能化专案，未来仍将持续深耕台湾，带领台湾产业转型契机。

全球布局─美国、越南、日本多点齐发
　　远东新世纪於2018年首度增设美国营运据点，生产基地从亚洲跨入美洲，成功收购美国M&G西维吉尼亚州年产能36万吨固聚酯粒厂，并於2018年第三季投产，就近供应美国庞大内需市场。并与其他两家国际大厂合作，共同於德州圣体市打造全球最大PTA与固聚酯粒一贯化厂，不但可以避开贸易障碍，也可发挥美国低廉原料及能源成本优势。此外，看准越南经贸优势，包括已生效的东协自贸区、CPTPP以及可望於2019年生效的欧越FTA等，加上当地劳动力充足及东协国家中产阶级人口持续成长带动需求，积极扩建越南垂直整合基地，并已陆续完工，包括已投产的40万吨固聚酯粒产线与第一期印染厂，聚酯长纤、聚酯短纤等扩充专案持续进行。为加速实践循环经济，在原有基础上进行日本Recycle厂第二线扩充，并考虑於其他地点建立第二座生产据点，以满足日本市场对於再生酯粒的大量需求。

循环经济─扩大应用领域与生产规模
　　远东新世纪积极推广循环再生的绿色环保方案，包括「Bottle to Bottle」环保再生酯粒、「Bottle to Fiber」再生环保纱，以及「Bottle to Other Packaging」再生包装材应用技术等，与国际品牌共同打造绿色供应链。本公司与adidas合作海洋回收纱专案，将海洋废弃宝特瓶回收再制成为品牌鞋子与衣服材料，且出货量持续增加。此外，本公司环保机能布料不但连续四届成为世界盃足球赛NIKE指定面料，现今更已成为各项国际运动赛事指定球衣材料，优异的面料技术，让台湾於世界舞台大放异彩。

　　远东新世纪Recycle规模居世界前二，今年收购美国绿色回收企业Phoenix Technologies International LLC，进一步扩大循环经济能量，目前生产基地横跨台湾、中国、日本与美国，未来将持续扩充全球产能，稳固领导地位。

土地开发事业：活化土地资产 带动区域繁荣
　　远东新世纪在台湾持有57万坪土地，主要集中在北部精华地段，现阶段开发重点包括新北市板桥区的「台北远东通讯园区」(Tpark)，包括远传IDC大楼及第二栋研发大楼预计年底完成建筑物工程。继去年亚马逊云端服务AWS进驻Tpark，今年Google也宣布於Tpark打造全新办公园区，培育AI产业研发人才，预期Tpark在国际大厂研发资源挹注下，将引进大量科技人才，带动地方区域繁荣与就业机会，并推升台湾的国际能见度。位於通讯园区内高级住宅大楼将进入销售阶段，总销售坪数超过7千坪，预期将创造可观住宅销售收益。此外，为加速土地资产活化，已向桃园市政府提出内坜纺织厂土地变更申请，创造更高资产价值。

投资事业：多元投资组合 创造可观获利
　　远东新世纪为远东集团母公司，持有庞大且优质的转投资事业，主要投资标的均为产业标竿，包括远传、远百、亚泥、东联、宏远、远银等上市公司，多元化投资策略，能有效分散景气波动风险，并挹注稳定的股利收入。以目前股价计算，总持股市值超过新台币1,600亿元，较帐面成本增加约1.2倍，扣除帐面成本後，潜在利益约新台币900亿元，换算每股净值增值高达新台币17.0元，带来可观增值空间。

履行企业社会责任　实践永续发展
　　远东新世纪实践企业社会责任不遗於力，徐旭东董事长荣获台湾企业永续奖「企业永续杰出人物」。在全体同仁努力下，远东新世纪首获台湾企业永续奖「十大永续典范」、更三度蝉联「年度最佳报告」，跻身首届全球企业永续奖「Reporting Awards」及《远见杂志》CSR企业社会责任奖「传产制造组首奖」。此外，名列上市公司治理评监前5%，连续二年入选《富比士杂志(Forbes)》世界最佳雇主，最新排名更跃升为台湾企业第一名，为台湾企业形塑价值典范。
远东新世纪成立届满七十年，秉持诚、勤、朴、慎、创新的立业精神，与时俱进的思维，建构起世界级的营运版图，成为聚酯产业领导者。未来仍将以稳健经营的步伐，在新经济时代中加速变革，创造永续成长的竞争力。＃

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FENC 2019 Annual General Shareholders’ Meeting

Far Eastern New Century Corporation (Stock code: 1402, hereinafter referred to as “FENC” or “the Company”) held its 2019 Annual General Shareholders’ Meeting at the Taipei Hero House auditorium at 9:00 AM on 28 June with Chairman Douglas Tong Hsu presiding. During the meeting, the management team reported the 2018 financial results and the operating strategies of key businesses – production, investments, and property development.

FENC’s 2018 consolidated revenue reached NT$228.7 billion (US$ 7.6 billion), a 5% growth YoY, whilst net income attributable to shareholders of the Company was NT$12.03 billion (US$ 399 million), a 49% growth YoY, or an EPS of NT$2.41 (US￠7.99 ). The cash dividend of NT$1.8 (or US￠5.97 ) per share, a record high in the past seven years, was accepted during the meeting. The dividend yield is around 5.3% based on the stock closing price of June 27, 2019. FENC’s revenue growth accelerated in 1Q19, as its consolidated revenue reached NT$61.9 billion (US$ 2.0 billion), a 20% growth YoY, whilst net income attributable to shareholders of the company was NT$2.02 billion (US$ 66 million).

Production Business: Leveraging its Global Presence in Production and Sales & Leading the Circular Economy

1. Innovation & Breakthrough —  Promoting the Upgraded and Transformed Industries of Taiwan
Established in Taiwan since 1949, FENC has, with its outstanding R&D capabilities, played a crucial role as a driver to promote the transformation and upgrading of Taiwan’s industry on the global stage during the country’s economic growth and industrial development in the past decades. In 2001, the Company started its R&D Center in Taiwan. Throughout past 20 years, FENC has cultivated many R&D talents, focusing on the four strategic areas, including polyester material, fiber & textile, new material, and biotech & energy. FENC has developed a number of world's first products and achieved remarkable research success.

With its deep roots of R&D center and headquarter in Taiwan, FENC has built up a comprehensive polyester supply chain ranging from upstream petrochemicals through midstream polyester to downstream textile businesses. By constantly introducing energy saving processes, smart management and manufacturing projects in its production sites, FENC will continually develop in Taiwan and lead the Taiwan industry to further transformation.

2. Global Deployment—Growing Presence in the U.S., Vietnam and Japan
FENC built a network of production bases that spans from Asia to the Americas when its first production site in the United States was established in 2018. The successful acquisition of Mossi & Ghisolfi (M&G) in West Virginia adds 360,000 tons per year to its capacity of PET resin, and production commenced in the third quarter of 2018 to directly supply the massive American domestic market. In partnership with two other multinational corporations, the Company is constructing the world’s largest integrated PTA/PET plant in Corpus Christi, Texas, which not only enables FENC to overcome trade barriers, but also allows it to capitalize on America’s low-cost feedstocks and energy. Meanwhile in Vietnam, the construction of a vertically-integrated production site has been completed, including the currently operating PET production line with an annual capacity of 400,000 tons and the dyeing & finishing plant (Phase I). Another expansion of the polyester filament and staple fiber plants are underway. The Company is poised to reap the benefits of manufacturing in Vietnam, which derive from its membership in the ASEAN Free Trade Area (AFTA) and CPTPP and forthcoming entry into force of FTA with EU in 2019, an abundant supply of labor and, finally, rising demand brought about by a growing middle class in ASEAN countries. To accelerate the actualization of circular economy, FENC has decided to expand the second line on its existing recycling facility in Japan, and is also considering setting up another production site to satisfy the strong demand for recycled PET resin in the Japanese market.

3. Circular Economy—Ever-expanding Scope of Applications and Production Capacities
FENC is fully committed to promote environmental initiatives that focus on the circular usage, including producing “Bottle-to-Bottle” recycled polyester chips, “Bottle to Fiber” recycled polyester filaments, and “Bottle to Other Packaging” recycled packaging solutions. It is also building a green supply chain jointly with brand-name multinationals. A case in point is the collaborative development with Adidas of the “TopGreen Ocean” filament, which is made of recycled polyester fibers from ocean waste PET bottles and then used to make increasingly-popular footwear and apparel. In addition, the Company’s eco-friendly fabrics have been selected by Nike for players’ functional jerseys in four consecutive Football World Cups, and have become a top choice for sportswear in so many international athletic events that Taiwan is now also known to the rest of the world for making outstanding fabrics.       

The Company has the world’s second largest recycling capacity. Earlier this year, it acquired Phoenix Technologies International LLC, a U.S. PET recycler, and plans to further expand its capacity as the circular economy grows. It now has production sites in Taiwan, China, Japan and the United States, and will keep branching out across the world into the future to secure its leadership of the global market with unrivalled production capacities.

Property Development: Revitalizes Land Use and Creates Prosperity in the Area
The Company has up to 570,000 pings (1,884,306 m2) of land throughout Taiwan, mostly located in premium areas across the north of Taiwan. Currently, its prime project is the development of Tpark located in Banqiao District, New Taipei City with the construction of FET’s IDC building and second R&D building scheduled to be completed by the end of the year. Last year, the operations of Amazon Web Services were inaugurated in Tpark, and earlier this year, Google announced to develop a brand-new office complex in Tpark to incubate talent for the AI industry. As global enterprises’ R&D funding continues to flow in, Tpark is expected to host a great number of high-tech professionals, contribute to the neighboring area’s prosperity and employment growth, and also raise Taiwan’s profile in the world. The new residential housing product in Tpark with an estimated floor space totaling more than 7,000 pings (23,140 m2) is about to enter the sales stage and expected to deliver substantial profits for the Company. The Company has also applied to the Taoyuan City government for land rezoning of Neili Texturizing Plant to increase its asset value.  

Investment: Secures Substantial Profits with Diversified Investments 
FENC is the parent company of the Far Eastern Group, which has invested in numerous and diversified businesses. The majority of its investment portfolio is listed companies on the Taiwan Stock Exchange with proven track records, including Far EasTone Telecommunications Co. Ltd., Far Eastern Department Stores Limited, Asia Cement Corporation, Oriental Union Chemical Corporation, Everest Textile Corporation Limited, and Far Eastern International Bank. Such a diversified investment strategy spreads the risk of potential loss caused by economic volatility, and thus provides the Company consistent dividend income each year. The Company holds shares worth over NT$160 billion by market value, about 1.2 times their book values, with a potential net profit over NT$90 billion, which translates into a significant increase in net worth of NT$17.0 per share.

Social Responsibilities: Operates Sustainably to Pay Back to Society
FENC is dedicated to fulfilling its corporate social responsibility. Chairman Douglas Tong Hsu was presented the award of Outstanding Corporate Sustainability Professionals by TCSA (Taiwan Corporate Sustainability Awards) in 2018. Thanks to the employees’ collective efforts, the Company was also honored by TCSA with the Most Prestigious Sustainability Awards-Top Ten Domestic Corporates for the first time, the CSR Report of the Year for the third consecutive year, and the Reporting Awards by GCSA (Global Corporate Sustainability Awards). Its commitment to CSR practices across its operations was also acknowledged by Global Views Monthly with the 15th Annual Corporate Social Responsibility Award in the Manufacturing Industry Category. Besides, in corporate governance evaluation, the Company ranks top 5% among listed companies. Moreover, it has been nominated as one of the World’s Best Employers for the second straight year by Forbes, the highest among the Taiwanese companies on the list, which qualifies it as a role model for corporate Taiwan.

FENC has achieved world-class operations and emerged as leader in the polyester industry with a forward-thinking mindset during the past seven decades since its inception, whilst still adhering to its overarching principles of sincerity, diligence, thrift, prudence and innovation. In future, it will stride ahead on the path of sustainable development by maintaining stable growth and accelerating transformation in this dynamic era of the new economy.＃