CEO’s Message

The global solar photovoltaic market is changing rapidly. In addition to the annual increase in conversion efficiency, the growing demand for green energy has yet to reach a balance between supply and demand. As the green energy sector continues to grow, supply and demand imbalances and instability are common, and Taiwan’s market is no exception. Despite facing various challenges, TSEC’s management team has been able to rely on sound market judgment and, in line with the government’s “Green Energy Technology Industry Innovation Promotion Plan 2.0,” actively build large-sized module production lines to create differentiated products. They have also focused on decentralizing the supply chain and aggressively negotiating prices to reduce production costs, while implementing reasonable inventory management practices. As a result, in 2023, TSEC achieved a 8.3% decrease in consolidated revenue compared to the previous year, a 178% increase in consolidated net profit after tax, and a 161% increase in consolidated earnings per share.
As the highest governance body for corporate sustainability, TSEC’s Board of Directors, considering the development timeline of the “Corporate Governance 3.0 – Sustainable Development Blueprint,” actively implements diversity in board membership, plans for succession for the board and management team, and works to enhance the company’s governance evaluation standards.
Energy is the foundation of any economy. As countries implement controls on carbon emissions to accelerate the introduction of carbon credits and carbon taxes, a new type of energy war has begun, but it is not focused on traditional fossil fuels; it centers on green energy. In line with global green energy trends and political shifts, in addition to addressing the domestic market, the company has begun focusing on overseas markets. Previously, due to low-price competition from mainland China factories, the international market was visible but inaccessible. Starting in 2024, the company will take action to actively expand its overseas marketing efforts, countering and filling the gap left by imported modules taking market share from the domestic market. Recently, TSEC has planned to enhance its process technology and will develop solar cells using N-type semiconductor chips. This technology will improve solar module power generation efficiency by about 8%, and the degradation rate over the years will be lower than P-type. For photovoltaic projects with a 20-year power generation lifespan, the power generation efficiency will increase by 10.91%, further enhancing carbon reduction effects.

TSEC is a company co-founded by early employees, and these colleagues have remained the core backbone of TSEC throughout its journey, experiencing the struggles of the startup phase and the industry’s difficult periods. Therefore, we believe that talent is a key asset for the company, essential for its continuous success and progress. Under TSEC’s people-centered corporate culture, we are committed to employee care based on human rights, gender equality, and diversity, and we emphasize mutual commitments between the company and its employees. TSEC is a company that cares for its employees, has a sound system, and offers a practical corporate culture in a happy workplace, continually attracting top talent. As TSEC’s business performance shows results, we will continue to plan for various social care initiatives, contributing to society.

Looking ahead, as industry competition and global climate change intensify, operational challenges become increasingly severe. In addition to strengthening core business capabilities and pursuing profit growth, TSEC will continue to enhance corporate governance to protect shareholders’ rights, develop green products to reduce environmental impact, care for employees’ physical and mental health, and participate in public welfare projects, all in pursuit of the goal of sustainable business management.

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