Reported 8 months ago
On June 20, 2024, Formosa Plastics held its shareholders' meeting, marking Chairman Lin Chien-nan's last time presiding over it. The company distributed a cash dividend of 1 NT dollar based on last year's financial report, completed the board of director's election, and initiated a professional manager transition plan with the current general manager, Kuo Wen-pen, being promoted to chairman and remaining as general manager. Formosa Plastics aims to increase differentiation product sales to 25%, focusing on high-value sales of PP, among other strategies to diversify markets. Chairman Lin mentioned their advancements in AI and quantum computing, with ongoing projects expected to generate profits of approximately 1.17 billion NT dollars each year. Additionally, Formosa Plastics will collaborate with NVIDIA to develop AI applications in the petrochemical industry, leveraging existing resources from its subsidiary, Taisox Machinery.
Source: YAHOO