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Chairman's Statement

> Investor Relations > Corporate Governance > Shareholders’ Meetings > Chairman's Statement

Dear Shareholders,


Continuing the opportunities created by the changes in the global economy and supply chain in the previous year, although the impact of the COVID-19 epidemic is still in the ascendant, driven by the strong demand from supply chain end customers and new technology applications in 2021, the company's quarterly revenue has shown substantial growth. The overall operating performance has reached a new historical peak.

1、Consolidated revenue and net profit : Unit:NT$1,000
Items Year 2021 2020 Increase (Decrease)Amount Change Rate%
Net Revenue 15,244,851 11,048,392 4,196,459 37.98%
Gross Profit 5,627,229 3,332,806 2,294,423 68.84%
Net Profit 3,116,984 1,429,287 1,687,697 118.08%

Consolidated statement of income and profitability:

Item Year 2021 2020
Financial Structure (%) Debt/Assets Ratio 38.66 41.84
Long-term Capital/Fixed Assets Ratio 272.23 239.33
Debt-Paying Ability (%) Current Ratio 232.29 188.24
Quick Ratio 175.70 128.45
Profitability(%) Return on Assets(%) 16.84 9.65
Return on Equity(%) 27.81 15.58
Earnings per Share(NT$) 10.06 4.61

2、Budget Execution:

The internal budget target set by the company every year does not disclose the financial forecast. The overall revenue and profit will be affected by market demand, industry changes and product structure, and the consolidated operating income and profit in 2021 will reach the budget target of 114.38% and 154.71% respectively.

3、Research and development:

In order to maintain the company's leading position in the frequency component industry, Taiwan Crystal Technology specializes in sophisticated operation management and engineering technology research and development to establish a long-term competitive advantage. The R&D team continues to develop and optimize high-stability, high-frequency, wide-temperature, and ultra-miniaturized quartz components, strengthen the product technology portfolio, and provide the market with more diverse and high-value products. Therefore, the company officially launched the wafer-level advanced process technology development project and the upgrade of the digital manufacturing system in 2021, which greatly increased the related capital expenditures and moved towards the goal of advanced intelligent manufacturing in an all-round way. The investment results are expected to gradually ferment in the next few years, through which the company can improve its operational performance in a more comprehensive way, enter new markets such as 5G/automotive electronics/Internet of Things more quickly and effectively, and create long-term and stable revenue growth and profit.

4、Results from execution of other projects:

(1) Green enterprise: In order to comply with the government's energy-saving and carbon-reduction policies and energy regulations, the company has continued to implement energy-saving and carbon-reduction plans every year. The company has built a rooftop solar power generation system with a power generation capacity of about 67,000 kWh in 2021. Energy-saving measures such as heat pump systems, replacement of high-efficiency lamps and air compressors, air-conditioning cooling fans, etc., and continue to promote certification and activities related to green enterprises. Food waste reduction and plastic bag reduction action to further reduce the use of pollution-free plastic bags for ten thousand years.
(2) Occupational safety and health: TXC has continued to promote Occupational Health and Safety Assessment Series certification to uphold labor safety under the guidance of the Occupational Safety & Health Committee and Labor-Management Conference. A number of health promotion activities such as Getting to Know Metabolic Syndrome health lecture, pap smear testing, HPV virus awareness lecture, CPR and Heimlick maneuver instruction, workplace quit smoking activity, oral cancer screening activity, individual weight reduction activity, stress relief activity, blood pressure monitoring activity and flu vaccine inoculation activity were held by TXC to help employees take positive steps towards a healthy lifestyle. TXC will continue on working to create of a safe work environment to provide maximum safety to our employees.
(3) System certification: With regard to the maintenance of various operating systems, TXC has received the following certifications: Quality Management System (ISO9001), Automotive Industry Quality Management System (IATF16949), Environmental Management System (ISO14001), Taiwan Occupational Safety and Health Management System (CNS15506), Information Safety Management System (ISO/IEC27001), Hazardous Substance Process Management System (IECQ QC 080000:2017), Occupational Safety and Health Management System (ISO45001). The Ministry of Finance's Customs and Excise Department issues high-quality enterprises with safety certification (AEO), the Ministry of Economic Affairs and Industry Bureau issues the Taiwan Intellectual Property Management Specification (TIPS) Verification Level A, and the Ministry of Health and Welfare issues a healthy workplace certification-health promotion mark and had ISO 14064-1:2018 Greenhouse Gas Inventory. TXC will continue to update its management systems to satisfy and surpass customer requirements
(4) Corporate governance and responsibility: TXC adheres to the concept of honest operation and actively strengthens corporate governance to protect the rights and interests of stakeholders, and establishes a sound and efficient board of directors to strengthen the responsibilities of the board of directors for supervision and management. In December 2021, the board of directors approved and approved the carbon neutrality goal of 2050. At the same time, a sustainable development committee (also known as the ESG committee) was established. Promote the sustainable operation of the company, and formally include the sustainable development implementation plan into the company and each department's operational performance indicators. In addition, the company's voluntary association and the TXC_Foundation have engaged in a number of community care and educational support activities, and disclosed relevant activities in the Sustainability Report (formerly the "Corporate Social Responsibility Report").

1、Steady investment deployment, laying the foundation for sustainable growth

(1)Improve and expand production capacity, consolidate existing market advantages, and stabilize the group's growth niche.

(2)Optimize the capital structure, strengthen the operation of emerging markets, and create new business momentum.

(3)Based on sustainable development, global supply chain and climate change regulatory requirements, determine the 2050 net zero carbon emission target.

2、Grasp the commanding heights of the market and accelerate mass production of advanced manufacturing processes

(1)Expand the successful coverage of upstream customers, optimize the service quality and sales mix of mid- and downstream customers, fully grasp the market pulse, diversify the risk of excessive market concentration, and effectively promote new product sales and new customer development.

(2)Actively and prudently balance sales, production and inventory allocation, taking into account system risks and revenue growth momentum.

(3)Continuously improve manufacturing costs, shorten the mass production schedule of new products, and deepen the group's quality culture

(4)Accelerate the development of new products and advanced processes, expand the depth of technology, build technical barriers, and improve competitive advantages.

3、Comprehensive digital automation to build differentiated competitiveness.

Continuously improve existing and new information application systems, and use digital tools and process improvement in marketing, quality assurance, R&D, manufacturing, supply chain and administrative management operations to improve operation and communication efficiency, speed up problem solving, improve quality and reduce production costs . In particular, we should focus on digital applications in intelligent manufacturing, equipment automation, data analysis platform, product development and quality management. At the same time, it is necessary to strengthen information investment, improve information productivity and quality.

4、Enrich human capital and improve organizational development

The comprehensive and systematic implementation of talent development includes five aspects: recruiting talents, utilizing talents, cultivating talents, retaining talents, and necessary replacement, especially improving and strengthening the leadership of managers at all levels. Through the effective cooperation between organizational development and talent capital, the interaction forms upward spiral kinetic energy, promotes a high-performance organizational culture, and establishes a talent echelon for the company's continuous growth.


In 2022, with the adjustment of the COVID-19 epidemic policies of various countries, the impact of the spread of global inflation, the expected deferred effect accumulated in the supply chain, and the turmoil of the international geopolitical economy, many factors have caused the market risk to gradually heat up, and the overall supply chain challenge of the industry will become more and more serious severe. The company will continue to effectively exert its competitive advantages on the basis of existing operations, and must closely follow up and respond to changes in the market, strengthen the control of inventory and operating costs, and accelerate the realization of investment benefits in technology research and development.


Looking to the future, various challenges and rapid changes are at hand, not only the norm but also the crisis. The company will adhere to the attitude of excellence and the spirit of entrepreneurship, quick and flexible response and insight into market opportunities, continuous innovation and change of thinking, deep cultivation of technology, advanced breakthroughs, and implementation of intelligent manufacturing, in response to more intense competition and more changes. The management team has the confidence to continue to create more value for shareholders, create happiness for colleagues, and move towards a top enterprise with excellent performance and sustainable operation. Smart Crystal Technology Innovation and Sustainability!