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Message from the Chairman
Corporate Responsibility Practice
Message from the Chairperson
As the impact of climate change intensifies, there is a global consensus on the speed and pressure to mitigate or adapt to climate change through energy transformation. Renewable energy is one of the cores of energy transformation and plays a key role in achieving carbon neutrality. Carbon emissions are an international development trend. Taiwan lacks natural resources such as petrochemicals, but is uniquely suited for the development of renewable energy due to its wind and solar en-ergy potential. Sino-American Silicon Products Inc. (SAS) positions itself as a provider of compreh-ensive green energy solutions, extending its business reach to green power generation, energy storage, energy sales, and energy allocation. We have taken practical actions to support and respond to the net-zero transformation objectives for Taiwan and worldwide by adhering to our pledge to achieve 100% renewable energy utilization by 2050 for the SAS Group and its subsidiaries
While pursuing sustainable corporate management, SAS also upholds its social responsibilities by ensuring corporate governance, environmental protection, employee care, etc. The goal is to exert the positive influence of SAS in the industry and society to create the sustainable values of economic growth, environmental protection, and social progress.
Rising Revenues and Sustainable Governance
In 2023, the solar energy industry continued to face various challenges. However, the Russia-Ukraine war has accelerated the decarbonization efforts of many countries, prompting the US and Euro-pe to legislate for renewable energy supply chain autonomy, which has stimulated solar installation momentum. SAS plans to enter and capitalize on market opportunities in 2024 with its M10 N T-opcon products, boasting a maximum conversion efficiency of 25%. Besides high-efficiency mono-crystalline cells, SAS also offers solar modules and downstream power plant operations and is ex- panding into energy storage and renewable energy sales to provide comprehensive services to customers. In addition, SAS is also actively investing in all key links of the semiconductor industry an-d building a complementary upstream and downstream strategic alliance to expand highvalue businesses. In October 2023, Actron Technology Corporation, a major automotive rectifier diode manufacturer, became a subsidiary of SAS Group. Its revenue and profit are now consolidated into
SAS’s financial statements, showing stable growth. This integration is expected to accelerate the development of the electric vehicle market and contribute to the Group’s profits. In 2023, affiliated companies such as GlobalWafers, Actron, and TSC achieved record revenues, while AWSC experienced a growth rebound, enabling SAS to set new revenue records for three consecutive years!
- The consolidated operating income was NT$81.970 billion, which increased by 0.12% over the previous year.
- The consolidated operating profit was NT$17.779 billion, which increased by 10.01% over the previous year.
- The net profit for the current period attributable to the parent company was NT$9.843 billion, which increased by 12.94% over the previous year.
- The after-tax earnings per share reached a record high of NT$16.99.
- SAS was ranked in the top 5% of all TPEx-listed companies during 10 consecutive years of Co-rporate Governance Evaluation.
Global attention to climate change has intensified in recent years, and green energy is recognized as the future trend. According to Taiwan’s 2050 net-zero emission path strategy, which focuses on building a zero-carbon energy system, enhancing energy system resilience, and promoting green growth, SAS’s operational strategy aligns with Taiwan’s net-zero emission goals. SAS is committed to developing high-efficiency products, building clean energy systems in power plants, investing in energy storage and microgrids to expand grid infrastructure, and establishing a green energy sales subsidiary to revitalize green energy trading, providing integrated green energy solutions. Sino-American Silicon is committed to providing sustainable momentum for a brighter future by conforming to this policy direction and systematically expanding our business territory. Regarding corporate governance, we constantly refine our performance to strengthen Sino-American Silicon’s commitment to the pursuit of sustainable operations.
Forward-looking and Industry-leading Technologies
transformation has become critical. To achieve carbon reduction goals, SAS’s R&D team is committed to producing high quality solar cells, continuously improving P-type monocrystalline cells, an-d increasing the mass production conversion efficiency of M6 cells to 22.95%. In response to M10 be-coming the global mainstream size, SAS has also developed M10 capacity and raised its mass production efficiency to 23.2%. The average conversion efficiency for mass production of P-type mono-crystalline cells is expected to reach 23.40% in 2024. In addition, to align with international trend-s and meet the needs of domestic and international customers while promoting industry upgrade-s, Yilan Branch invested in the development of a solar cell production line using new N-type TOP CON technology in 2023. This technology provides customers with high bifacial rates, lower degradation, and better weak light performance, achieving a conversion efficiency of 24.50% and steadily moving towards 25%. The capacity is expected to expand to 550 MW by 2024. Moreover, to cater to various solar cell product demands from customers, SAS leverages its extensive R&D experience to develop solar cell products that meet specific customer requirements rapidly, in addition to the aforementioned solar cell products.
Digital x Sustainability - Dual Transformation Driving the
Zero-Carbon Era
Looking back on 2023, we hoped the global economy would recover from the pandemic while simultaneously facing the pressures of economic cycle fluctuations. The industry’s development, imp-acted by the Russo-Ukrainian War and geopolitical turmoil, remained uncertain, and a sluggish consumer market further strained the overall economic environment. Over the past year, SAS has actively positioned itself within the low-carbon value chain. This includes efforts in the solar indust-ry to develop high-quality and high efficiency solar products, continuous green energy development and sales, and strategic moves in energy storage and electric vehicle electrification. At the same time, SAS has strengthened Taiwan’s local energy industry chain, working with local suppliers to create high-quality and high efficiency solar products. Through these strong partnerships, we a-im to maximize the benefits of vertical integration and seize opportunities in the renewable energy transition. Ultimately, focusing on global net-zero and carbon neutrality trends and Taiwan’s “2050 Net Zero Emission Roadmap,” SAS uses SBT (Science-Based Targets) as the theoretical basis to formulate various carbon reduction plans, mapping out SAS’s netzero roadmap.
In the post-COVID-19 era, when economic recovery is needed, the world is embarking on a digital and sustainable transformation. With the interplay of digital and green transformations, industries can leverage digital empowerment to turn decarbonization into an innovative force, achieving multiple business objectives and accelerating sustainable competitiveness. SAS aims to ride this wave, continually enhancing energy-saving and carbon-reducing efforts in manufacturing and R&D while accelerating the advancement of digital systems and promoting paperless operations. Through this green economic power, SAS is driving into a zero-carbon era, using digitalization to promote a sustainable business model.
Employee Care and Public Cause
SAS is committed to creating a safe, healthy, and friendly workplace; upholding the pledge to respect and provide people-oriented care for employees; abiding by the government’s labor laws; creating a comprehensive salary and welfare system; guaranteeing a friendly working environment; and ensuring the safety of employees at work. Emphasize employee career development and physical and mental health by planning diversified training courses to improve employee knowledge and skills and pa-y attention to the balance of work & life for employees. Through diverse health care programs and health promotion activities, we safeguard the health of each employee, creating a happy and healthy workplace. Despite the intense global competition, we continue to strive for excellence together with our employees.
SAS not only aims to create a hopeful and dynamic work environment but also hopes that employees can maintain a harmonious work-life balance. Therefore, the Company implements care projects, assistance systems, and company activities to ensure that employees can work happily and lead fulfilling lives. We organize employee trips, provide welfare activities, and offer a variety of lectures and courses to allow employees to experience different aspects of life beyond their work.
In terms of social welfare, SAS’s social care activities are guided by “charitable social welfare” and “caring for the disadvantaged,” using “love and responsibility” to protect Taiwan. To support and respond to public welfare, the Company has actively participated in public fundraising activities such as “Caring for the Rural Areas and the Vulnerable” by matching the donation proceeds 1:1. (i.e., the Company will donate the exact same amount of donation made by employees), thereby increasing the size of donation to help more places that are in need of assistance.
We have expressed our love in practical ways, practiced corporate responsibility by taking care of the society, fulfilled the various specific actions and results in terms of corporate social responsibility, and demonstrate our determination to achieve the sustainable operation target.
Chairperson of Sino-American Silicon Products Inc.