 2009-12-22 |
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Reported by He Mei-Ju, Taipei
After more than a year of turbulence, ACHEM (1715), under the leadership of its major shareholder YC (4306), successfully completed its 2009 annual shareholders' meeting on December 21, acknowledging the business report, financial statements, and the distribution of earnings for the previous year. After verification by accountants, ACHEM reported a net profit after tax of NT$35.94 million for the fiscal year. Based on the board of directors' proposal, a cash dividend of NT$31.07 million will be distributed to shareholders, amounting to NT$0.13 per share.
On November 30, ACHEM held a complete reelection of its board of directors and supervisors, with major shareholder YC securing five board seats and two supervisory positions. The new team officially took over on December 7. Under their leadership, the annual shareholders' meeting on December 21 was successfully conducted at the Yangmei factory, where the cash dividend of NT$0.13 per share was approved. The previous management's proposal for a private placement was decided to be postponed for discussion at this meeting, with the company indicating that future considerations will depend on further developments.
The entry of YC into ACHEM has been positively viewed by both the company and institutional investors. Analysts believe that the vertical integration of YC and ACHEM will enhance cost control capabilities, which will help improve gross margins. Previously, YC's chairman, Lee Chih-Hsien, also expressed that YC and ACHEM have complementary strengths and hopes to achieve a synergistic effect where 1+1 is greater than 2. The newly appointed ACHEM executive, Liao Cheng-Ching, stated that ACHEM and YC have upstream and downstream relationships in their products, and they will strive to secure more competitively priced raw materials. The market also presents complementary advantages, as YC can address ACHEM's distribution challenges, thereby increasing ACHEM's competitiveness. |
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