Chairman's Remarks for 2025 Shareholders Meeting

Dear shareholders, honored guests, and members of the media, good morning. Welcome to the 2025 Annual Shareholders Meeting.

As time flies, we find ourselves entering a new era filled with uncertainty and challenges. Looking back at 2024, it was truly a difficult year. Few may remember that we experienced a major earthquake. While residents in northern Taiwan may not have felt it strongly and media coverage was limited, the impact was severe.

Allow me to briefly explain: our Hualien plant, power plant, cement factory, and port were located just 2 kilometers from the epicenter of a magnitude 7+ earthquake. Just imagine the extent of destruction such a quake could cause. In fact, the damage we sustained was extensive. However, because these are critical facilities, we worked to restore them as quickly as possible. Realistically, the full repairs—especially to the power plant—were only completed around January or February of this year, nearly ten months later. The President will later share photos showing the extent of the damage.

You may have noticed that since the earthquake, any rainfall—typhoon or not—has caused severe isolation in the Heping and Chongde regions, turning them into temporary islands with no access.

To illustrate further, the damage to our Hoping plant, power plant, and port included elevation differences of over half a meter. Massive loading and unloading machines at the port either fell into the sea or broke apart. I’m not exaggerating when I say that the steel beams in the loading equipment were so large that I couldn’t wrap my arm around them—they snapped clean in two.

We have been carrying out repairs since October, but the damage was so extensive that much remains to be done. What we’ve mainly addressed so far are the visible surface damages. But we also continue to uncover hidden internal damages—what we might call "internal injuries" in martial arts novels. I've visited the plant eight or nine times. While it would be inappropriate to solely blame these natural disasters for our operational difficulties, they have undeniably played a significant role—yet are often overlooked simply because we were right next to the epicenter.

Despite 2024 being a tough year due to natural disasters, it was also a landmark year. As you may have noticed when entering, we displayed different cement bags, symbolizing that 2024 was the inaugural year of TCC’s internationalization. All related data has now been consolidated.

From Africa to Europe, Central Asia to Mainland China, the cement bags you see are largely certified by the Global Cement and Concrete Association as low-carbon products. While concrete cannot be bagged like cement, we also meet low-carbon standards there. TCC shareholders should take pride in this.

In Taiwan, TCC is the only company whose cement and concrete products have third-party low-carbon certification. So yes, 2024 marked the beginning of our international presence. In today’s turbulent global landscape, we at TCC—listed company 1101—must bear greater responsibility. As your leadership team, we aim to stay forward-thinking and visionary.

Last night, I looked up at the stars—though it was raining—and I was filled with a sense of humility amidst all the changes happening in the world. I’m grateful that we’ve managed to maintain a reasonably stable operation despite everything. The President will soon provide updates. I deeply appreciate the opportunity this era presents—not just to run a business, but to help shape core values.

This is my personal belief: the world's values are evolving, and we must stand firm in our convictions. I believe environmental shifts are part of our mission—both as TCC and as colleagues and shareholders—to contribute to the planet and humanity’s future. In each person’s limited time on earth, leaving behind a positive mark should be our most meaningful endeavor.

This year, we will continue to uphold our core strengths with the spirit of “gazing at the stars, while keeping our feet on the ground.” We’ve developed over a dozen new products, maintaining high quality standards to generate momentum even in a chaotic environment—creating new possibilities.

Because we believe that while the future is uncertain, the best way to navigate uncertainty is to create the future ourselves. You may have seen that we are recruiting new colleagues, whom we call DIN—Digital Intelligence Navigators—leaders who will guide us toward a smart and low-carbon future. We hope these young talents will join us in moving TCC in a greener, more sustainable direction.

Even amid growing waves of change, we must move forward with stability. Some may ask, “With all the investment now flowing into semiconductors, can a cement company like yours still survive a hundred years?” My answer is unequivocally—yes.

Why? Because without cement, there can be no semiconductors, nor anything else. While semiconductors are hot right now, they rest on infrastructure that we build. Even semiconductor waste is handled by us.

Looking ahead, we know the global economic outlook—especially for this year and next—is full of uncertainty. Markets, whether capital or currency, fluctuate constantly. These are forces beyond the control of any single company or even nation.

So, let me be clear: this year’s performance may not exceed last year’s. But what I can assure you is that our team will work even harder. We are implementing plans steadily, and many of our 2025 initiatives involve energy and international expansion.

We hope these efforts lead to satisfactory results. As this is the Shareholders Meeting, I want to sincerely thank you on behalf of all TCC employees for your continued support. We hope you will continue to support us as we weather these turbulent times and build a more resilient and sustainable future.

As is our tradition, I’d like to end with a short poem to share our outlook:

Let us lift our eyes to the stars, with dreams in our hearts.

Let us walk with purpose, grounded in faith and resolve.

Let us hold reverence for nature, and guard the home we all share.

Let us welcome change with courage, and move forward with grace and strength.

Let us join hands and hearts, to create a glorious future together.

Thank you.