2022 Far Eastern Group affiliated enterprise Far Eastern Group Annual Strategy Meeting

        2022 Far Eastern Group affiliated enterprise Far Eastern Group Annual Strategy Meeting will be held in Tainan in two stages from December 1 to December 6. Just as the recent epidemic situation has slowed down, a number of executives from the United States, Chinese Mainland, Vietnam, Japan and other places overcame all difficulties and came to the scene. The organizers and special videos connected to the headquarters of Ya Tung Department Store, Baiyang Building, Far EasTone Telecommunications, Xinpu Chemical Fiber Factory, Asia Cement Corporation Hualian Factory, Jiangxi Yadong Cement, Shanghai Ya Tung Department Store Far Eastern Polytex (Vietnam) and other places let more elites of Far Eastern Group at home and abroad participate.

                In order to bring you a refreshing feeling, wonderful performances are arranged at the opening ceremony every year. In line with the theme of the conference "Building Sustainable Competitiveness in a Turbulent World", this session invited the "Hsinchu Youth National Orchestra" to play modern music with traditional instruments. The blending of old and new creates a new sensory experience. The book "Persistent Excellence" was presented as a gift to encourage directors to innovate, actively build organizational operational resilience, and create sustainable competitive advantages.

        Then, under the auspices of Douglas Hsu, under the theme of "Confronting the Change and Smart Transformation", we led everyone to look ahead to the economic situation, review the Group's operating results in 2022, and explain how the enterprise adjusts its strategy and promotes the smart transformation in view of the changes in the operating environment and the challenges facing the enterprise.

        In 2022, affected by many factors such as worsening inflation, monetary policy tightening in various countries, and the Russia Ukraine war, major economies in the United States, Europe, and other countries are in recession. In addition, soaring energy prices also accelerate countries' efforts to promote energy transformation policies. The world has reached a net zero consensus for 2050, and the related investment scale is estimated to reach USD 3 trillion. In Asia, Japan, South Korea and Chinese Mainland also face weak economic growth momentum. However, after the conclusion of the 20th National Congress of the Chinese Mainland, the national development strategy is set and is expected to recover steadily. On the other hand, India's GDP performance in 2022 is better than that before the epidemic, becoming the fifth largest economy in the world, and is expected to continue to grow in the future. The economy of Southeast Asia also rebounded against the trend, among which Vietnam benefited from China's trade transfer, and Go Prosperous said it was strong. As for Taiwan, although the economic growth rate in 2022 is significantly slower than that of the previous year, the recent anti epidemic policy has been gradually loosened, and the consumption momentum is gradually warming up, especially the retail and catering turnover.

        Despite the severe economic situation, with the efforts of all colleagues, the Far Eastern Group will maintain a stable business structure in 2022, with overall revenue, total assets and total net worth growing. However, Douglas Hsu also reminds us that global enterprises are facing risks such as supply chain security, change in consumer behavior, disruptive scientific and technological innovation, lack of key talents, and net zero game. Only by rethinking and making adjustments and accelerating intelligent transformation can they improve their competitiveness. As a large multinational group, Far Eastern Group should grasp the pulse of consumer demand and supply chain in a timely manner and actively extend outward. To this end, the General Assembly specially arranged the leaders of the core business entities of the Group to report on their future development strategies and specific plans for building the sustainable competitiveness of enterprises, so as to facilitate the exchange and learning of directors attending the meeting.

        Among them, Johnny Shih, Deputy Chairman of Far Eastern New Century Corporation, commented on the political and economic situation of major economies in the world from a macro perspective, and proposed four strategies, including "giving play to the advantages of vertical integration, improving technology for energy conservation and carbon reduction, developing sustainable innovative products, and diversifying regional operational risks". Zhang Bingqiu and Wu Moji, two Chief Operating Officers, took the lead to explain how each business unit follows the strategic layout, Strive to make breakthroughs in innovative technologies and consolidate the leading position. Under the leadership of K. Y. Lee President of Asia Cement Corporation, Zhang Zhipeng General Plant Manager (Senior Executive Vice President), Jin Chongren President of Ya Tung Ready Mixed Concrete Corporation, and Chen Guangtai President of Chiahui Power Corporation, Hualian Plant introduced the operation and development strategies and sustainable competitiveness of cement, concrete and power industries respectively; For Asia Cement Corporation (China), CEO Zhang Zhenkun and Vice President Qiu Guowei of Sichuan Yadong Cement conducted a development report on "Green Transformation and Low Carbon Future"; First, Justin H.C. Tsai President of Oriental Union Chemical Corporation shared how to outline the blueprint of sustainability development through product structure innovation and transformation, and then Zhang Yingshi, Vice President, explained the strategy of Oriental Union Chemical Corporation in response to global carbon neutrality and recycled economy trends; In addition to analyzing the challenges and opportunities faced by enterprises, Everest Textile Ching Lai Yeh President proposed eight strategies for the vision of 2023. Lin Shirong, Vice President, further introduced Everest Textile's development in digital intelligent production. U-Ming Marine Transport was represented by Choo Kiat Ong President and Wu Jusheng Deputy President, who introduced how the company promoted transformation and optimization with five development strategies to become a pioneer of sustainable shipping.

                In the service industry, the Far EasTone Telecommunications Chee Ching President led the way in sharing the practice of enterprise transformation, and Hu Demin, the chief information officer, also promoted a number of smart cooperation programs to relevant enterprises with the knowledge of the digital transformation of Far EasTone Telecommunications, hoping to create a win-win situation with group partners; Far Eastern Department Stores Nancy Hsu President led Lan Zhuocheng and Yu Zumei, two senior vice presidents and Wang Minglun, with the theme of "Innovation and Transformation of Far Eastern Department Stores, Building a Foundation for Sustainable Operation", to explain that "Operation, Commodity and Sustainability" are the three cores of the transformation of Far Eastern Department Stores. FE SOGO Department stores Sophia C.W. Huang Chairman, together with Li Aijia's Executive Vice President and Hong Dezhang's Senior Vice President, analyzed the department store changes after the epidemic, and "SOGO 4.0 To Weather the Storm". For Far Eastern International Bank, Thomas Chou President led Zhou Xinhua and Dai Songzhi, two vice presidents, to detail how Far Eastern International Bank "creates a sustainable financial future".

        Public welfare institutions, though non-profit undertakings, are also facing challenges in the big environment. Liao Qingrong, President of Yuan Ze University, and Xu Zezhi, Vice President explained the sustainability development strategy and plan of the university in view of the new changes in higher education. President Huang Maoquan of Asia Eastern University of science and technology also revealed the sustainable competition strategy of Asia Eastern University of science and technology with "great responsibility, great function and great pattern". 2022 will be a bumper year for Far Eastern Memorial Hospital, especially for epidemic prevention. In the new year, Dr. Chiu and Kuanming, the president of the hospital, put forward three goals, namely, "take responsibility for management, effectively reduce costs; accelerate the implementation of science and technology through digital transformation; and promote cross-border cooperation through medical empowerment".

        As the saying goes, "A stone from another mountain can make mistakes." In addition to internal communication, the Far Eastern Group Annual Strategy Meeting also invited all the elites to share international pulse and new industrial knowledge with the audience. First of all, in view of the surging green tide, Liu Wenxiong, President of the Industrial Technology Research Institute, analyzed the global sustainability development trend observation, and pointed out the enterprise transformation direction and specific implementation practices from the practical cases of the Industrial Technology Research Institute. The second tier invited Zeng Yuzhe, the head of sustainability development services of Ernst&Young Consulting, to introduce the latest ESG international trends and cases under the theme of "opportunities and challenges of global net zero emissions and recycled economy".

                In addition, the conference also cooperated with Today's Weekly and Manager's Monthly to hold forums on "New Global Economic Order" and "Building A+Talent Pool" at two levels. Today's Weekly invited Paul Krugman, an internationally renowned Nobel laureate in economics, and Nouriel Roubini, a former economic consultant of the US government, to analyze the global situation, discuss the current de globalization, climate change, the new world order, and the impact of the strong US dollar; In order, Yang Yongming, a well-known political commentator, observed the challenges faced by Taiwan from the confrontation between China and the United States in recent years, and Cao Tianwang, an economist, analyzed the risks and opportunities of Taiwan in the turbulent situation from the perspective of inflation; The Manager's Monthly invited Xu Ruiting, the director and global senior partner of Boston Consulting, Xie Liangcheng, the president of Google Cloud Taiwan, and Li Junlong, the leader of Merck Taiwan, to talk about how to plan future talents in response to global trends, establish a new generation of enterprise digital culture, and cultivate and manage international talents, bringing new ideas to the talent cultivation of enterprises.

                In addition to the rich courses, the conference also carefully prepared a new party program. "Country Night" is a series of classic country songs, coupled with dynamic dance and American cuisine, to accompany everyone to sing and dance all night; "Off Broadway Dream Love Journey" invited the oldest off Broadway music troupe in New York to give a high-level performance. The second step is to hold the activity of "Sleepless in the City" on the evening of the first day of registration. The attending directors can take a double deck sightseeing bus to visit the ancient capital of arts and culture at night, or go to Far Eastern Department Stores VieShow Cinemas in Tainan to watch the latest blockbuster movies. At the same time, in order to promote the atmosphere of sports and fitness, the first "Far Eastern Group World Games" is specially planned this year to let the directors present participate in archery, basketball, baseball, golf and other sports events to compete for the best results. It is expected that through the intellectual and emotional agenda arrangement, the directors at the meeting will accelerate consensus building, broaden their horizons, continue to lead the company's intelligent transformation, and create new situations

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