Message from the Chairman
Dear stakeholders,
In 2023, despite overcoming the challenges posed by the COVID-19 pandemic, the global environment continued to confront various crises and challenges. Notable among these were extreme weather events across the globe, geopolitical conflicts including the Russia-Ukraine war, the Israel-Hamas conflict, and the crisis in the Red Sea, etc. These factors contributed to ongoing global instability and a downturn in market demand, which particularly affected the chemical industry, weak market demand and a recession further exacerbating operational challenges for businesses.
Everlight Chemical experienced significant impacts on its financial performance, with a 12% decrease in revenue and a 76% reduction in profits compared to the previous year. The revenue stood at NT$7.861 billion, while post-tax profits totaling NT$95.07 million.
Despite these challenges, all colleagues remained committed to excellence, achieving significant results across various aspects.
A highlight to share is that Everlight Chemical’s sustainable products the Eversorb® AQ series, a waterborne paint stabilizer, received the “Taiwan Excellence Silver Award,” marking the first B2B industrial chemical has won this award.
In terms of sustainable environmental efforts, Everlight Chemical’s Plant I, Plant II and Plant III obtained ISO 50001 energy management system certification in 2023. Plant IV received the “National Enterprise Environmental Protection Award.” Last year, parent company also completed an organizational carbon audit, verified by a third party. The factories collectively saved 1,231 kWh of electricity and reduced about 609 tCO2e of carbon emissions. The total energy consumption for the group decreased by 21% from the previous year. The greenhouse gas emissions in 2023 were 17% lower than in 2022, and the greenhouse gas emission intensity reaching 8.6 tCO2e/million NTD in production value, achieving the target (goal 8.7). Regarding water conservation, the total annual water intake and consumption decreased by 18% and 13% respectively, and the water recycling rate of R2 reached 95% (93% in 2022). Last year, the Board of Directors approved a carbon reduction target for 2030, aiming for a 25% reduction from the baseline year of 2021, in alignment with the national goal of achieving carbon neutrality by 2050.
In fostering a diverse and inclusive workplace, Dr. Huang Hui-Ching, Head of Product Stewardship Division, won the second “Taoyuan City Powerful Women Award.” Last year, the proportion of female managers at Everlight Chemical grew by 5%, and women in STEM roles accounted for 30%, notable achievements in the chemical industry. Everlight Chemical continues to invest in talent development. In 2023, the company introduced the eHRD training system, totaling 125,486 hours of internal employee training for the year, averaging 69 hours per person. The company also collaborated with the School of Continuing Education at Taiwan National University to offer a two-year “Refined Executive and Practical Studies Class” for more than 40 senior executives within the group and introduced management capability evaluation tools from consulting firms to develop personal growth plans and establish a succession planning talent pool. Last year, six employees pursued master’s and doctoral degrees while working.
In terms of social engagement, the company continued to advocate for the importance of research and promotion of “Economic Ethics.” For the 15th consecutive year, Everlight Chemical sponsored the “Economic Ethics Forum” organized by the Department of International Business at Tamkang University and supported the Jubilee Economy Ethics Research and Education Foundation’s “Jubilee Economy Ethics Seminar” for the 23rd consecutive year. Everlight Chemical continues to promote Character First Education. Besides implementing character education for all employees, the company has supported character leadership education courses at Taipei Business University’s Department of International Business for 13 consecutive years as part of an industry-academic cooperation. Everlight Chemical has also been committed to education in the communities where its factories are located. Since 2014, responding to the “Sowing the Seeds of Reading: A Big Future for Children” public welfare project by the Common Wealth Magazine Education Foundation, Everlight Chemical has consistently subscribed to “Future Children” and “Future Teen” magazines monthly for each class in nearly 30 underprivileged schools in Taoyuan City and Hsinchu County where Everlight and Trend Tone Imaging facilities are located.
In corporate governance, last year, Everlight Chemical was rated in the top 6-20% in corporate governance assessments; its “Corporate Sustainability Report” won the TCSA Sustainability Report Gold Award for the second consecutive year and was listed among the “Top 100 Carbon Competitive Companies” by Business Weekly in 2023.
This year, we will continue to enhance the disclosure of climate-related financial indicators under the TCFD framework. We will also continue to assess finance related to natural capital, low-carbon transition, and biodiversity, and gradually present the results.
In conclusion, I extend my sincere wishes for the health and well-being of all stakeholders and their families.
Sincerely,
Chen Chien-Hsin
Chairman of Everlight Chemical