A Message from the Chairman

My thanks to all employees, customers, suppliers, investors and partners for your continuing trust, support and hard work. Because of your help we have managed to weather the impact of the China-US trade war, the pandemic and the Ukraine war on the global economy and supply chains. We have maintained a steady pace and adjusted accordingly to changes in our modes of work and life. In 2023, in the face of global inflation and geo-political issues as well as myriad other uncertainties we have displayed admirable operational resilience. We have continued to do the right things and to do them the right way. In 2023 we achieved a new revenue high of NT$ 110.8 billion, a YoY increase of 16.3%. In addition our S3 site in the Southern Taiwan Science Park went on-line and we entered phase 2 of construction of our Vietnam site, with ramped up production scheduled for later this year.

While expanding global capacity we are also expanding R&D teams at HQ, S3 and at our Taipei offices, as well as accelerating sustainability actions and digital transformation and improving internal and external communications with stakeholders. Across all operational facets ESG objectives and initiatives are being introduced and promoted in order to create an operational structure that is more diverse, resilient and agile.

To respond to changing industry trends and market demand WNC’s product portfolio now extends from applications to infrastructure, with customers groups including enterprise brands, automotive electronics manufacturers and telecommunications service operators. Every sector has good development potential and will be important growth drivers in the coming years. We are gradually seeing economies of scale and market demand falling into place for 5G, Wi-Fi 7, LEO satellite and automotive electronics products. In addition to continuing investment in new technologies, new materials and new modes of production so as to develop next-generation, low carbon, energy-efficient products, we have also become a part of energy management and green transportation related industry chains through existing customers. In step with the arrival of AI technologies and applications we are also paying attention to and strengthening information security of our communications products.

In 2024 we have set our sights on new milestones. In the face of an ever-changing business environment we will need to adhere to the principles of pragmatism, innovation, and sustainability. Through innovative AI technology, diversification of product portfolios, customer and production bases, as well as expanded ESG actions possible negative impacts can be reduced, and market momentum can be grasped so as to ensure operational performance and profit growth. I look forward to continuing fruitful relationships with all employees, customers, suppliers and partners. Together we can create value and build a harmonious future for the environment and society. I also welcome any feedback and suggestions from stakeholders as we strive to increase our positive influence on society at large.