TSC has actively invested in the R&D and application of sugar as its core technology and developed the concept of diversification operations. We use existing resources and advantages to develop new businesses, research and develop new products and provide new services. In addition, internal performance evaluation indicators are set in accordance with Regulations for Performance Evaluation of State-Run Enterprises and Guidelines for Performance Evaluation of State-Run Enterprises for corporate management and performance.

      In 2019, with the joint efforts of all units and all employees, the total revenue reached NTD 30.478 billion, which was a 12.28% decrease compared with 2018; the total expenditure was NTD 27.735 billion, a 0.58% increase compared with 2018; the net profit was NTD 2.743 billion, a 61.74% decrease compared with 2018, mainly due to the decrease in profits from disposal of investment property.

TSC's Condensed Income Statement in the Past Two Years

Item/year	2018年	2019年	The percentage of increase or decrease compared with the previous year (%)
Operating income	27,558,207	26,409,607	-4.17%
Other income	-	-	-
Non-operating income	7,184,838	4,068,084	-43.38%
Total Income	34,743,045	30,477,691	-12.28%
Operating cost	21,378,386	20,954,605	-1.98%
Operating expenses	4,146,396	4,181,489	-0.85%
Other expenses	16,244	28,478	75.31%
Non-operating expenses	1,965,369	2,038,405	3.72%
Income tax expense (benefits)	-274,243	-141,495	-48.41%
Loss (income) from discontinued operation	342,614	673,680	96.63%
Total expenses	27,574,766	27,735,162	0.58%
Net income	7,168,279	2,742,529	-61.74%
Dividend	10,146,150	3,382,050	-66.67%
Net profit margin (%)	26.01%	10.38%	-15.63%
Earnings per share (dollar)	1.27	0.49	-61.42%
Note: The number in the reports was certified by CPA. The Hypermarket Business Division discontinued operations on June 17, 2019. In accordance with the International Financial Reporting Standards 5 (IFRS 5) Non-current Assets Held for Sale and Discontinued Operations, the revenue of NTD 1,125,823 thousand and the expenditure of NT 1,799,503 thousand dollars would be reclassified to NT 673,680 thousand dollars in “Loss (income) from discontinued operation”. The 2019 annual income tax benefit was NT 141,495 thousand dollars mainly because the profit-seeking enterprise income tax was NT 1,717 thousand dollars and the benefit of land value increment tax was NT 143,212 thousand dollars. The final consolidated statement of profit and loss of the current period for 2019 is NT 1,624,307 thousand dollars, mainly because the re-measurements of the defined benefit plans (loss) was NT 9,135 thousand dollars. The re-measurements of the defined benefit plans (loss) of associates and joint ventures accounted for using equity method was NT 2,951 thousand dollars, the unrealized valuation gains and loss from equity investment instruments measured at fair value through other comprehensive income was NT 1,635,342 thousand dollars, and the exchange difference converted from financial statements of foreign operation was NT -4,851 thousand dollars. The total salary and benefits for employees in 2019 was NT 4,528,672 thousand dollars (excluding the employment cost of NT 155,435 thousand dollars due to the reclassification of Hypermarket Business Division to Loss (income) from discontinued operation.

TSC adheres to the principle of paying taxes honestly according to law, which contributes to the country’s construction and development. In 2019, TSC paid a total of NT 4,235,097 thousand dollars in taxes and fees to local and central governments in Taiwan, a 3.81% decrease compared with the NT 4,403,011 thousand dollars in 2018. We will continue to focus on the steady development of the Company and create the maximum value for our shareholders.

For information about TSC’s final report, annual report for shareholders' regular meetings and information on corporate governance, please refer to the public information section on TSC home page. https://goo.gl/PvJgAU (_blank)