The English version is AI translated.


08.2022 Group Briefing

Everest Textile Holds 2022 Annual General Meeting of Shareholders

Everest Textile / Xiang Wengui
        Everest Textile held the annual general meeting of shareholders on June 16, during which the 2021 annual final accounts were approved. Consolidated revenue in 2021 will reach NTD10.007 billion, an increase of 36% over the previous year, a record high. After-tax net profit and EPS will be NTD182 million and NTD0.39 respectively, and operating losses will turn into profits. In the first quarter of 2022, the revenue was NTD2.634 billion, an increase of 23% over the same period last year. The after-tax loss of NTD374 million was due to a fire in the warehouse. The fire loss of NTD435 million must be listed first, and insurance claims can be obtained in the future. Backflushing to cover losses. Excluding this disaster, the profit in the first quarter would still be NTD061 million. In addition, in 2021, in order to strengthen the financial structure, reduce capital, and successfully complete the cash capital increase of NTD3 billion to strengthen future business performance.

        Everest Textile has a cutting-edge technology R&D Center. The annual investment in research and development accounts for 2-3% of revenue. The new product development capability leads the industry. technology to quickly respond to market and consumer needs. Facing the trend of climate change and net zero carbon emissions, Everest Textile has also successively developed innovative products such as marine waste recycling polyester, garment recycling, biochemicals, biodegradable PU, carbon capture yarn and other related innovative products to create solutions with solutions. The new value of the product, and then the value capture, increase the unit price, to achieve the goal of increasing price and quantity.

        In addition to launching green products, Everest Textile carries out various ESG actions with goodness as the starting point and environmental sustainability as the core. At the environmental level, we are committed to building factories into green ecological parks, such as: building solar roofs and energy storage systems in Taiwan, Shanghai and Thailand factories, activating and reusing waste, making low-carbon green bricks and green building materials, and product design using Environmentally friendly raw materials, electricity consumption and water consumption intensity from 2006 to 2021 will be reduced by 50% and 60% respectively; in terms of social integration, not only does Eversmile invest 1% of Eversmile’s revenue every year into charity activities, but also assists AIA in epidemic prevention. Create output value; in terms of corporate governance, implement laws and regulations, expand shareholder information transparency, and actively fulfill corporate social responsibilities.

        Looking forward to 2022, Everest Textile's three Far Eastern Dyeing & Finishing (Suzhou) factories in Taiwan, Shanghai and Thailand will continue to develop steadily, and the American factory will gradually get rid of the impact of the epidemic and no longer lose money; the Ethiopian factory has stable orders, and the third Efficiency improved in the second quarter, turning losses into profits; orders and personnel at the Haiti plant also stabilized. Once the efficiency is improved, an opportunity to turn profits can be seen, and the overall operating outlook is optimistic. Although there are still many uncertainties in the global economic environment, Everest Textile will make good use of the global layout regional manufacturing strategy, fast and flexible scheduling, construct short-chain supply, and improve Wuhan Far Eastern in the spirit of "diversified integration innovation, resilience Sustainability Development" New Material recycles and processes, develops high-value sustainable textiles, demonstrates corporate resilience, improves operational performance, enhances shareholder value, and becomes an industry leader.


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