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Creating Continuous Profitable Economic Performance

CREATING CONTINUOUS PROFITABLE ECONOMIC PERFORMANCE

       Sustained profitability is not only a necessary prerequisite for sustainable business operations, it is also the foundation for an enterprise to fulfill its corporate social responsibility. Taiwan Sugar Corporation is a state-owned enterprise and operates mainly in the sugar industry. In recent years, the external environment has undergone rapid changes, resulting in active business diversification. Currently, there are many expansion projects, including food manufacturing, seedlings and flower cultivation, tourist hotels, retail sales, and biotechnology food. Strengthening corporate governance, upholding integrity management, continuing innovation research, focusing on product safety and complying with relevant regulations are all necessary conditions for creating the economic performance of sustained profitability.
       In order to effectively manage the issues of concern of stakeholders in the economic aspect and the Sustainable Development Goals (SDGs), TSC has established the related responsible unit, formulated relevant policies and short-term, medium-term and long-term goals and invested in resources and management systems.

DMA of Creating the Economic Performance of Sustained Profitability
Corresponding material topics Innovative Research, Marketing and Labeling, Customer Health and Safety, Integrity Management, Customer Privacy, Socioeconomic Compliance, Economic Performance, Corporate Governance
Corresponding SDGs 2、8、11、16
Policy
  • Implementation of the government’s industrial policy and deepening the core business(Customer Health and Safety)
  • Overall planning of land and assets(Economic Performance)
  • Strengthening product and marketing capabilities (Innovative Research, Marketing and Labeling, Customer Privacy)
  • Acceleration of capital utilization and management capabilities of investment assessment(Economic Performance)
  • Strengthening of corporate governance(Integrity Management, Socioeconomic Compliance, Corporate Governance)
Commitment and goals Short-term goals (within 3 years):
1. To implement the responsibility center system, execute objective management, activate land resources, and create high asset value utilization
2. The Board of Directors (BOD) shall implement its performance evaluation at least once a year, and the results of the self-performance evaluation shall be reported in the board meeting convened at the beginning of the next year.
3. To provide innovative raw materials, formulations, processes, new products and establish a safe agricultural crop cultivation mode
4. .To continuously strengthen the traceability management of the "Food Safety Traceability Management System" and manage the source of each product.
Medium and long-term goals (3 to 7 years):
1. To strengthen operations in agriculture-related businesses (sugar, animal husbandry, agriculture business, and agricultural operations), whose operating revenue account for more than 35% of the entire company.
2. To increase investment in resources and continue to strengthen the operation of health-care and leisure-related businesses (biotech and leisure activities) for gradual operating revenue growth year by year.
3. To protect shareholders' rights, strengthen the functions of the board of directors, bring out the functions of a functional committee, respect the interests of stakeholders, and ensure sustainable development of the company with integrity management.
4. To focus on health-oriented core technologies and products, increase resource input, and strengthen brand marketing.
5. To combine new agriculture and make use of biotechnology to research and develop non-toxic, non-polluting, high value-added and healthy products.
Responsible units Corporate Governance Group of the Corporate Sustainable Development Committee
Department of Property Management
Investment Business Division
Quality Management Committee
Food Factory Inspection Group
Input resources
  • A sustainable development report training course was held with a total of 40 participants.
  • In charge of costs for holding training courses related to corporate governance for directors
  • NTD 753,364 thousand for the improvement and expansion of fixed assets construction.
  • NTD 2,884,623 thousand for marketing costs.
  • NTD196,258 thousand for research and development (NTD10,108 thousand for the  purchase and construction of fixed assets, and NTD186,150 thousand for expenditure)
  • NTD2.2 million for the investment in experimental equipment and UPLC
  • Six innovative R&D projects, including research and development of the seniors’ food (meat) products, application and research of near-infrared spectroscopy in feed inspection analysis, genetic breeding of purebred pigs, establishment of the gene pool of Porcine Epidemic Diarrhea virus, and functional feed additives & feed conversion rate and value-added application of self-owned raw materials diversification, with a total budget of NTD6,441 thousand.
Grievance mechanism Audit Committee Mailbox, the Corruption Report Channel of TSC’s Department of Ethics, Customer Service Hotline, Customer Service Email Box, TSC Facebook Fan Page
Management System and Action
  • Future Business Strategy, Responsibility Center System, Internal Control System,Practice Principles for Corporate Sustainable Development, Guidelines for Risk Assessment, Guidelines for Reinvestment Projects, Guidelines for Investment, Guidelines for Evaluation of Appointed Concurrent Directors and Supervisors (committee members) of Investment Business and Corporation, Guidelines for Endorsements
  • Code of Ethical Conduct, Guidelines for Risk Assessment, Code of Practice for Corporate Governance, Practice Principles for Corporate Sustainable Development, Audit Committee Charter, Guidelines for the Process of Preparing Financial Statements, Guidelines for Board of Directors Performance Evaluation, and Study Plan for Directors
  • Research and Development Committee Charter, Guidelines for Intellectual Property Rights, Guidelines for Research Project Management, Guidelines for Technology Transfer and Authorization, Guidelines for R&D Records and Document, Guidelines for Laboratory Safety and Use, Guidelines for Greenhouse Management, Taiwan Intellectual Property Management System (TIPS)
  • Guidelines for Quality Management of Products Manufactured by Entrusted Manufacturers, Guidelines for TSC’s Product Development, Guidelines for Product (merchandise) Recalling and Recycling, Food Safety Traceability Management System,After-sales Service and Customer Complaint Processing Procedures, Guidelines for Quality Execution, ISO 22000 Food Safety Management System, HACCP, ISO 9001 Quality Management System
Assessment management mechanism Internal Control System, TSC Performance Assessment System, Corporate Sustainable Development Committee Work Plan and Implementation Review Meeting

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