Oriental Union Chemical Corporation Holds 2024 Regular Shareholders Meeting

        On June 12, Oriental Union Chemical Corporation held a shareholders' meeting and announced a consolidated revenue of NTD20.8 billion in 2023, a decrease of 6% from the previous year. The net profit after tax was NTD270 million, with an EPS of NTD0.3. During the meeting, a cash dividend of NTD0.2 was issued per share. Affected by high interest rates, high inflation, less than expected economic recovery in China after the pandemic, and the impact of new petrochemical production capacity on the market in 2023, the prices of ethylene glycol (EG) products have been weak and sluggish. Fortunately, the management team has maintained resilience and agility in response to international development trends, continuously developing high-value and environmentally friendly products, enhancing competitive advantages, and maintaining a stable and progressive operating condition.

        Current operational status

        In recent years, Oriental Union Chemical Corporation has integrated process technology and product research and development to improve product quality, process efficiency, reduce unit product costs, enhance competitiveness, and also increase the proportion of ethylene oxide derivatives (EOD) production to reduce the impact of EG market fluctuations on operations, moving towards high-value products. On the other hand, actively developing carbon dioxide capture and reuse (CCU) related products and various ethylene oxide derivatives, and providing formula and customized services to meet customer needs. And this year's mass-produced series of amine derivatives such as polyether amine (PEA) and ethylenediamine co products (EDAs) will be used in carbon capture system solvents, reaction intermediates, and synthetic resin hardeners. Each series of products will gradually be supplied to the market, and it is expected to inject profits into the company.

        Future planning

        In response to the challenges of the overall environment, Oriental Union Chemical Corporation drives transformation through research and development, continues to develop fields such as electronic chemicals and special application materials, and actively invests in green products such as carbon capture and reuse, low-carbon processes, plastic recycling and reuse, and biodegradability. At the same time, it implements recycled economy, energy transformation, and low-carbon production in process management, hoping to achieve the sustainable goal of carbon neutrality by 2050, and more in line with the global trend of technological development. Empowered by AI, it implements intelligent applications in research and development, production processes, and supply chain management to achieve stable operation, pursue profitability and growth, and move towards a green advanced chemical material company, continuously serving shareholders and customers. Create new value for employees and build sustainable competitiveness.