Douglas Hsu's year-end dinner speech

        Faced with the challenges of the new year, Douglas Hsu not only reveals three key directions, but also expects colleagues to face future challenges with greater momentum.

                In November 2024, Trump defeated He Jinli in the US presidential election and successfully returned to the White House. People from all walks of life expected that the "US first" and tough China policy he emphasized might have a significant impact on the global economic and diplomatic situation; On December 4th, South Korean President Yoon Suk yeol declared martial law on charges of anti-government behavior by opposition parties, but was quickly vetoed by the National Assembly. Despite the martial law lasting only six hours, it still caused public dissatisfaction, and the National Assembly impeached and demanded the president to step down. This serious political confrontation has caused a significant impact on the South Korean political situation. The above events illustrate the complexity and speed of changes in the world today, which are becoming increasingly unpredictable, coupled with excessive production capacity and declining demand, leading to increasingly fierce industrial competition. Looking ahead to 2025, the outlook is still not optimistic, and many companies are facing a critical moment of survival. If they cannot accelerate their transformation, they may be engulfed by the tide of the times. Therefore, all companies must actively implement the following three directions.

        1. Moving towards internationalization

        Far Eastern Group's enterprise is based in Taiwan and has accelerated its global expansion in recent years. Currently, the five major overseas revenue markets are mainland China, Vietnam, Singapore, the United States, and Japan. Although we already have a good niche in the market, there are still many unexplored places and untapped business opportunities in the world. We should further expand our global business map, develop into an international enterprise, and move towards a broader world.

        2. Apply innovative technology

        The technology projects that will have a significant impact in the coming years will mainly fall into two categories: "digital technology" and "green technology". Important 'digital technologies' include: AI, artificial intelligence, cloud computing The Internet of Things (IoT), among which AI has the greatest impact, requires companies to invest their efforts to promote it. And 'green technology' focuses on energy, carbon reduction and other directions, especially for the manufacturing industry. In the face of the environmental wave, how to continue the existing advantages and vitality of products through transformation or development of new uses; Focusing on differentiation and new products with growth potential are important challenges for everyone, and these challenges will also create more possibilities for the future of humanity.

        3. Cultivate future talents

        Faced with more diverse and complex work challenges, Far Eastern not only possesses professional skills, but also needs to establish interdisciplinary and diverse abilities, continuously improving skills such as foreign language communication and digitization. And companies should also re-examine their human resources, effectively link their performance and compensation mechanisms to achieve incentives and retention benefits, and consider how to adjust their structure, systems, management, and other aspects in response to changes in the situation, in order to meet the long-term development needs of the enterprise and achieve the goals of sustainable operation and steady growth.

        Looking back on the past, Far Eastern Group established its first business in Banqiao Knitting Factory in 1949. As of its 30th anniversary, it already has Far Eastern Textile under its umbrella Three listed companies, Asia Cement Corporation and Far Eastern Department Stores, had Far Eastern Textile's export contribution rate ranking first in Taiwan that year, and received a special award for export performance exceeding USD 100 million. Now celebrating its 75th anniversary, the group's business scope covers ten major industries, with ten publicly owned entities and 243 affiliated enterprises. Its total assets exceed NTD 3 trillion, and its annual revenue exceeds NTD 720 billion. These are the results of the joint efforts of all colleagues. Many friends in the business world envy me because my colleagues at Far Eastern Group are loyal, excellent, and brave enough to take on responsibilities. Special thanks to everyone for their past efforts. The new year has begun and we still need to rely on our colleagues to continue working hard. Let's move forward hand in hand and reach new heights!

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