The global geopolitical situation has rapidly changed since 2024, which has caused significant impacts on the international order, trade, economics, industry environments, and energy policies. Enterprises are now experiencing opportunities and challenges they have never faced before. In this era of global uncertainties, Walsin Lihwa acknowledges that the developmental trends of technology applications artificial intelligence will continue to be significant, and the challenges posed by climate change remain serious. As a result, Walsin Lihwa has made significant investments in smart manufacturing and green energy in recent years, carefully responded to risks and seized opportunities, and continued to incorporate ESG concepts into day-to-day operations and core strategies.
Walsin Lihwa has made a series of major investments since 2022, including Italian steel company Cogne Acciai Speciali and British aerospace material manufacturer SMP. The acquisitions of the Italian steel recycling plant Inox and the German stainless steel seamless pipes and tubes manufacturer DMV were completed in 2024, enabling Walsin Lihwa to expand into Europe and enter the international steel supply chain for high-end and key industries in Europe. By integrating our business advantages in Europe and Asia and sharing our knowledge of green steel and circular economy trends, we can fully leverage our vertical integration synergies to meet world-class ESG standards and strengthen the Company's competitiveness in Europe and global markets.
Walsin Lihwa, together with its value chain partners, launched a sustainable transformation to improve the resilience and overall competitiveness of the supply chain and to form a green low carbon alliance with suppliers. This way, Company would gradually implement carbon disclosure and management goals with all suppliers. The 2024 Supplier Partner Exchange Meeting focused on topics including "Sustainable Development," "Green and Sustainable Carbon Reduction," and "Digital AI Applications and Business Operations Upgrades." We continued to optimize the supply chain structure and jointly explored new modes of collaboration with our suppliers. The establishment of the electronic procurement system and the selection of key suppliers were carried out simultaneously, showcasing Walsin Lihwa's commitment to business integrity and successful implementation of the green supply chain.
Technological development is a key driving force in corporate transformation. Market competition is being redefined through technological innovations, from automated production to AI applications. Walsin Lihwa has established a foothold in high-end advanced industries, promoting digital transformation by utilizing digital technologies to enhance productivity and competitiveness, expanding the applications of smart manufacturing, adjusting the Company's business models, and creating higher corporate value.
In addition, climate change is an important issue that we must tackle. Walsin Lihwa complies with the spirit of the TCFD guidelines and considers climate risks and opportunities in its operations and decision-making process. The Company also carries out important tasks related to "low-carbon operations" and "renewable energy opportunities." Other than actively deploying solar power generation facilities, the Yangmei Smart Manufacturing Plant also adopted the concept of Industry 4.0 in its factory design and introduced advanced automation equipment and systems in 2023. These measures improved energy and resource efficiency at each stage of the production process, brought sustainability benefits from carbon reduction, mitigated the impact of carbon fees, and helped the Company maintain cost competitiveness. We also adapted to energy transition and supported the government's policies on green energy and domestic manufacturing. By leveraging our nearly 60 years of experience in insulated wire and cable manufacturing, we collaborated with NKT from Denmark to build the only offshore wind power submarine cable manufacturing plant in Taiwan, further contributing to the goal of net zero emissions.
People are Walsin Lihwa's most important asset. They are crucial for building a global industry chain and establishing ourselves on the international stage. The Company adheres to the fundamental principles of "Respect for Professional Expertise, Conduct Technical Exchanges, and Pursuit of Cultural Integration" to cultivate international and young talent and create a platform for interdisciplinary learning challenges. These measures enable every employee to fully exhibit their skills and values. We continuously promote five major indicators of talent sustainability: diversity and inclusion, rewards and incentives, physical and mental health, cultivation and development, and communication and experience. By strengthening the sustainable development and competitiveness of colleagues at the Company, we create a happy workplace that enables self-realization, friendliness, and harmony. Walsin Lihwa won the "HR Asia Best Companies to Work for in Asia" in 2024 from HR Asia under the theme "The Definitive Z Choice".
Walsin Lihwa has also spared no effort in applying the Company's core business to exert influence. The "Light Up the Corners of Taiwan" project builds wire and cable connections to link together educational resources from all corners of society, so that students in remote areas can have opportunities to excel. We promoted education in remote areas in 2024, focusing on the "New Immigrant Video Empowerment Course" for second-generation immigrants, which not only adds value to their academic careers but also enhances society's understanding on issues of cultural diversity. In terms of ecological stewardship, we support eco-friendly farming and have helped cultivate organic kiwis native to Taiwan. We also organize environmental courses and activities on topics such as Employee Vegan Day, organic markets, and family outings to experience harvesting rice. Furthermore, we continue to support local Taiwanese arts and cultural groups and provide funding to medical institutions to upgrade their testing equipment. Our goals are to promote social integration and bring positive impacts to society.
Corporate governance and business integrity are the foundation of the Company's sustainable development. Walsin Lihwa's management teams are composed of diverse professional backgrounds, and they continue to enhance their knowledge and comprehension of sustainable development and global political and economic industry trends. We have achieved significant results over the years. We received the TCSA Top 100 Corporate Sustainability Award, and also ranked in the top 5% of the Corporate Governance Evaluation, being recognized with the "Outstanding Company Award." Furthermore, we have also been selected as a constituent stock of the "FTSE4Good TIP Taiwan ESG Index" and the "TWSE Corporate Governance 100 Index." These achievements fully demonstrate the recognition Walsin Lihwa has received from society, the market, and professional institutions for our corporate governance and sustainability accomplishments.
The Company's business covers multiple industries and is spread across Europe, Asia, and the Americas. In response to the Company's rapid expansion, we have further promoted synergy between our high-value strategies in order to drive greater added value from digital technologies. We added the "Corporate Strategy and Supply Chain Management Team" and the "Digital Intelligent Development Team" into the Company's organizational framework in 2024, which in turn will help promote the Company's core strategies, strengthen supply chain resilience, develop industry partnerships, and turn the Company's digital capabilities and smart development into tangible results. These efforts not only enhance our operational performance and market competitiveness, but also reinforce the fundamentals of our corporate sustainable development. Walsin Lihwa will continue to push for innovation and excellence, and will collaborate with global partners to create a more resilient and sustainable future.
