 2014-03-31 |
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(Precision News, Reporter Hou Liang-Ru)
YC (4306) announced that Li Shu-Wei, the son of Chairman Li Zhi-Xian, has officially taken over as CEO from the former General Manager, Xie Qiang. YC, which serves as a holding company for Wan Zhou (1715), Xin Zhou (3171), and Wang Zhou Construction, is widely seen as making a significant succession move with this appointment.
Additionally, the YC board has approved the financial statements and profit distribution for 2013. The company's consolidated revenue for the year was NT$19.618 billion, up 7.8% year-on-year. Net profit after tax reached NT$740 million, marking a 291.53% increase, with earnings per share (EPS) at NT$1.68. The company plans to distribute NT$0.44 in cash dividends and NT$1 in stock dividends.
Li Shu-Wei, who took over as Chairman of Wang Zhou Construction from his father in 2010, and who also led the division of YC's packaging business last November, is now further advancing into the company's executive ranks. Li Zhi-Xian had previously stated that despite the family connection, his children were required to gain hands-on experience and prove themselves in the field before moving into senior management roles. Li Shu-Wei's younger brother, Li Qi-Zheng, currently serves as the Chief Operating Officer at Wan Zhou Chemical, overseeing the company's operations in China.
Regarding last year's significant profit growth, YC attributed the increase to the recognition of the "Yunpin" project at Wang Zhou Construction under IFRS accounting standards, which boosted the company's gross profit. Additionally, optimization of the BOPP (Biaxially Oriented Polypropylene) product mix and expanded production benefits contributed to the year's notable financial performance.
Looking ahead, YC plans to continue developing new products and customer sources while enhancing product applications and sales strategies to improve profitability. The film business will focus on applications in electronic materials, and the tape business will work on improving adhesive formulations and strengthening production and sales efforts. |
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