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Walsin Lihwa's 2008 shareholders meeting approved cash dividend of NT $0.3 2008/06/13 |
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Walsin Lihwa Corporation held shareholders meeting today (June 13th) at Taipei Grand Victoria Hotel approved the company's 2007 business report, financial statements, and earnings distribution, as well as had the board directors and supervisors reelected.
The directors newly elected are Mr. Yu-Lon Chiao, Mr. Yu-Cheng Chiao, Ms. Patricia Chiao, Mr. Yu-Heng Chiao, Mr. Yu-Heng Chiao, Mr. Tong-Shung Wu, Mr. Jih-Chang Yang, Mr. Hui-Ming Cheng, Mr. Yi-Yi, Taiˇ]representing Iu Hsiang Investment Co., Ltd.ˇ^, Mr. Wu-Shung, Hong (representing Win Investment Corporation), and Bonnie Kao (representing Tien Mu Investment Co., Ltd.). The supervisors newly elected are Mr. Wen-Yuan Chu, Mr. Yeu-Yuh Chu, and Mr. Yuan-Chi, Chao (representing Ching An Investment Co., Ltd.).
Decisions made at today's meeting include:
1.Approval of the 2007 business report and financial statements, including a stand-alone operating revenue of NT$79.62 billion, consolidated operating revenue of NT$164.5 billion, net income after tax of NT$1.54 billon, and earning per share at NT$0.51,
2.Approval of a cash dividend of NT$0.3 per share for 2007
3.Articles of incorporation amended to reduce the seats in the board from 13 to 11.
According to Yu-Lon Chiao, chairman of Walsin Lihwa, last year Walsin Lihwa was successful in implementing its strategy pursuing an aggressive growth by increasing business premises, capacity, and sales, and the companyˇ¦s revenue reached another record high. However, in the 3rd quarter of last year stainless steel sales were affected by very volatile raw material prices. As the prices began to stabilize in the 4th quarter of last year, the revenue and earning at Walsin Lihwa are expected to improve this year.
Walsin Lihwa's business foci for this year, according to Chiao, include a further expansion of the stainless steel capacity, ongoing reconstruction of two steel mills respectively in Yantai and Changzhou in Mainland China. Quantity production of stainless steel in Yantai will commence next year, and plant construction in Changzhou is scheduled in the second half of this year with operation to commence three years from now. Moreover, the production of stainless steel seamless pipes/tubes in Changzhou has been certificated to be used in the nuclear power market in Mainland China, and the capacity of wire and cable is expected to be double merit to the mushrooming infrastructure projects, particularly high-voltage cable installation, in Mainland China.
According to Chiao, Walsin Lihwa is facing a drastically changing international situation, but will continue creating the greatest interest for shareholders as the company is committed to management effectiveness by strengthening productivity, optimizing product mixes, developing elevated technology and high value-added products, timely responding to customers and the market, and continuing improving logistics management. |
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