Page 6 - 台玻集團2019 CSR英文版

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Message from the Chairman

04

Chairman Lin, Por Fong

In 2019, the global political and economic situation is turbulent; U.S.-China Trade War and Japan-
South Korea trade dispute have slowed down economic growth significantly. In early 2020, Coronavirus
(COVID-19) pandemic spread across the world, causing serious impacts on people's health, economic
activities and national security. The pandemic also results in stagnation of investment, weak consumer
market demand as well as increased uncertainty about global economy and trade, which leads to
adjustment and transfer of supply chain in industries. The World Bank pointed out that key economic
indicators, such as trade, investment, and consumption, are at their lowest since the Financial Crisis.
Overall, 2020 will be a year full of economic challenges, and thus we must stay prudent.

In 2019, Taiwan Glass in 2019 fell short of expected profit due to the shrinking demand in the
downstream market, which led to supply-demand imbalance and a fall in price.

In terms of flat glass, glass companies in China have established factories in Southeast Asian
countries, where low costs of local labor and fuel are available. Products made there can be exported
into Taiwan at relatively low prices, causing market prices to fall. Taiwan Glass, in response to this
situation, has continued to strengthen management, quality assurance and after-sales service, while
focusing on resource integration in the glass industry to maintain an orderly market.