OUCC 2021 Shareholders’ Meeting

　　The 2021 general shareholders meeting of the company (TWSE stock code: 1710) was held today, in which the 2020 business report and financial statements were addressed. The global economic recession in 2020, caused by COVID pandemic, had impacted the monoethylene glycol (MEG), incurring the oversupply and slashed prices of MEG, and resulted in the operative loss of the company. However, in view of the rebounding downstream market demand of polyester in 2021, MEG product prices remain stable as market status improves. With the profit growth of specialty chemicals and gas businesses sustained, the market outlook expects to be bright. The Q1/2021 consolidated revenue of the company totaled NTD6,574,763 thousand, an increase of 52% comparing to the previous year, with net profit attributable to the company NTD559,395 thousand, of EPS NTD0.64. Through prudent operation, the company’s 2021 overall growth is foreseeable.

　　To strive for the innovative development, the company integrates its new technical vantages in line with customers’ requirements to further extend its downstream product chain, which include products such as functional detergent, allowing fabrics to dry quickly, containing high performance in anti-bacteria, stain removal and moisture management; the admixtures which enhance concrete properties, as well as the reactive-grade polyols for polyurethane (PU). Additionally, the construction of polyetheramin (PEA) and ethylenediamine (EDA) plants of specialty chemicals are undergoing. As to gas business, the efforts in expanding sale of food-grade and electronic-grade, apart from the existing industrial-grade gases, shall strengthen the products value to secure overall profit growth.

　　For future outlook, the company shall adhere to its advocates in energy saving & GHG emission reducing, advance upon the plastic recycling, reuse, and biodegradable fields, promote green manufacturing processes, install solar photovoltaic systems, and the low-carbon and high-efficiency co-gen equipment to fulfill its corporate responsibility in environmental preservation, a manifestation of the company’s successive transformation into a world-class diversified company with specialty chemicals as core, and the innovative development and circular economy as propellants, in the hope of pursuing steady operation, profit and growth to constantly create new value for shareholders, customers and employees, and achieve the company’s corporate vision of sustainable operation.

＃