Asia Cement Corporation 2023 Annual General Meeting

　Asia Cement Corporation has held its Annual Shareholders’ Meeting on June 27th. Chairman of Asia Cement, Mr. Douglas Hsu has announced to its shareholders that, under the strategy of diversification of investment and profit, Asia Cement has earned a consolidated net profit after tax of NTD 12.597 Billion in 2022 and kept a record of earning annual profit of more than NTD 10 Billion for five consecutive years . Cash dividend distributable is NTD 2.3 per share which makes Asia Cement the leader among its peer in the industry in terms of dividend, price per share and profit. Asia Cement has a yielding rate of 5.2 % which is above the average of companies publicly listed in Taiwan. It has also created a record to distribute dividend every year for 61 years since it was publicly listed. It is also of great concern of the Company to emphasize on issues of environmental protection and energy conservation. Asia Cement has dedicated in implementation of ESG and elimination of carbon emission at large scale. The Company has continued increasing its investment in industries involve clean energy such natural gas and transformed cement industry into green industry. The Company has made itself an excellent choice o f investment not merely by creating profits for its shareholders, but also by contributing to the community and protection of environment.

　In the face of the global economic downturn challenge, Chairman Mr. Douglas Hsu highlighted that Asia Cement adheres to the principle of "Steady Progress," making contributions to Taiwan's industry and people's livelihood through its core business of manufacturing environmentally friendly and high-quality cement. Additionally, through diversified operations, Asia Cement has generated profits and performance, benefiting shareholders, employees, and society. With its steady and profitable operations, Asia Cement supports the promotion of ESG (Environmental, Social, and Governance) and intelligent transformation.

　Asia Cement persists in the pursuit of excellence in manufacturing of cement. In addition to promoting the friendliness to environment in the manufacturing process to produce cement with safety and excellent quality, Asia Cement also lead among its peer in terms of carbon elimination by introducing “Masonry Cement” and “Limestone Cement”, which will reduce carbon emission by 13% to 17% and with a growth of 240% in annual sales. In terms of its effort on circular economy, Asia Cement transforms various type of wasted material into the raw material and fuel used in the production of cement and hence reduce the mining of limestone and help various stakeholders dealing with the disposal of waste which eventually “Turns Waste into Treasure” and create an all-wins scenarios among environment, community and economy.

　ChiaHui Power, subsidiary of Asia Cement, is the largest independent power producer with an annual capacity of 4800 GWh which can provide for the need of one million households. Asia Cement is currently dedicating in evaluating potential investment in fields of Photovoltaics, development of Geothermal, energy saving and various green business both domestically and abroad. 

　Asia Cement founded its operation with diversified operations. In addition to Cement and Power industry, Asia Cement also extended its business to Far Easten New Century, U-ming Marine and Far Eastone Telecommunication under Far Eastern Group as well as other investments for financial and strategic purposes both domestically and abroad all of which serve the goal of both strategic development and stable profitability. With all investments above, Asia Cement has created a profit of NTD 6.626 Billion in 2022.

　Asia Cement aims at enhancing interests in diversified operations with innovative technology and management base on the motto of Sincerity, Diligence, Thrift, and Prudence. In the meantime, Asia Cement will deepen its involvement in ESG and its performance and confront opportunities and challenges in the future which would eventually shape a sustainable future.

#