HOME
ABOUT TAIT
ABOUT TAIT
Important Events
Management Team
Vision & Mission
NEWS
PRODUCTS
Beverage
Dessert
Ice cream
Snack foods
Liquor
Water
BRANDS
Private Brand
Agent Brand
Export Trade
INVESTOR RELATIONS
Tait History
INVESTOR RELATIONS
Financial Business Info
Shareholders' Info
Stock Info
Annual General Meeting
Corporate Governance
Sustainability Development
Stakeholder
CONTACT US
中文
EN
Home
INVESTOR RELATIONS
Corporate Governance
Corporate Governance Evaluation
Corporate value enhancement plan
GOVERNANCE
Corporate Governance
Corporate Governance
Organization
Board of Directors
The Board of Directors Resolution
The Committees
The List of Major Shareholders
Internal Audit
Institutional Norms
Corporate Governance Evaluation
Corporate Governance Structure
Corporate Governance Best-Practice
Sustainable Development Best Practice Principles
Ethical Corporate Management
Risk Management
Information and Communication Security
Intellectual property management
Human Resources
The Actual Operation of Supplier Management
Financial transactions between related parties
Purpose and aspects of AQIs
Assess risks or opportunities in the community
Corporate value enhancement plan
Employee Satisfaction Survey
Personal Data Protection
A.Cost Analysis
Effects of changes of interest rate, foreign exchange and inflation on corporate finance and our reaction
Tait has always adopted a conservative cash management policy. The Net Cash Inflow is mainly from Operating Revenues, and combined with bank loans to cope with the operation of the company. The Short-term borrowings is NT$ 0 in Y2024, and the Cash and cash equivalents in the beginning of Y2024 is NT$363,130 thouand. and in the end of Y2024 is NT$535,740 thouand.
Some of Tait's borrowings are debts with floating interest rates, but the fluctuation of interest rates is not large, so it is expected that there will be no significant market risk.
Some of Tait's assets and liabilities are denominated in foreign currencies, and the fair value changes with market exchange rate fluctuations. However, due to the small amount of foreign currency, no significant market risk will arise.
In response to the issue of international inflation, Tait will continue to adjust the inventory level and uphold the value-added business. Focus on operation, with optimized product mix, stable marketing strategy, balanced channel operation and effective grasp of the market. The market operation model improves the ability to respond to market changes.
B.
Profitability Assessment
ROE Evaluation: Tait’s return on equity (ROE) for the year 2024 stands at 16.6%, up by 1.7 percentage points from 2023, reflecting Tait’s sustained efforts in generating improved profitability from shareholders’ equity.
Business Analysis:The restructuring of the management team has resulted in a more integrated structure for Tait. Through strategic alliances and cross-channel marketing, Tait has been able to deploy more resources in business promotion and the benefits will gradually be realized. In addition to strengthening the introduction of internationally renowned agency brands, Tait is also committed to the development and creation of its own brands. Through regular events, cross-sector alliances and channel development, you can increase the exposure of your brand and products. In the future, in addition to strengthening the business development of our existing private label and agency brands, Tait will continue to develop products and seek to represent potential products in order to leverage our superior trading capabilities.
C.
Market Valuation Analysis
Tait’s price-to-book ratio (PBR) for 2024 stands at 2.87, signifying the market’s affirmation of Tait. We remain committed to ensuring that investor assessments align with Tait’s true intrinsic value.
Taiwan’s food industry is strengthening operational competitiveness and resilience. Companies are continuously adjusting and innovating to adapt to market changes, creating new growth momentum for the industry.
D.
Corporate Governance Analysis
Board Structure and Independence:Tait’s Board of Directors is composed of seven members, including three independent directors, accounting for 42.86% of the Board. All independent directors possess extensive industry experience and professional expertise. The diversity and independence of the Board structure ensure that the decision-making process takes into account a wide range of professional knowledge and perspectives. This structure enables the Board to remain independent from the Company’s management and to provide objective opinions and recommendations.
Effectiveness of Board Operations:Tait conducts annual performance evaluations of the Board of Directors and functional committees to enhance their operational effectiveness. The evaluation covers aspects such as the level of participation in company operations, quality of decision-making, composition and selection of members, continuing education, and internal control. These assessments are aimed at strengthening Tait's corporate governance framework.
Information Transparency:Tait holds Board meetings on a regular basis and promptly discloses important resolutions made at each meeting. In addition, Tait’s information transparency policy includes the disclosure and explanation of significant resolutions to ensure that shareholders are well-informed about Tait’s operations and strategic direction.
E.
Risk and Competition Assessment
Macroeconomic Analysis:The macroeconomic and monetary policy environment in the region where Tait operates remains relatively stable and sound, providing a favorable setting for business development. Inflation and interest rates are maintained within a reasonable range, supporting business planning and cost management. As global supply chains gradually stabilize and inflation eases, household real purchasing power has improved, helping to sustain consumer demand. However, projected shifts in U.S. economic and trade policy may hinder global trade development and increase uncertainty. Major institutions forecast steady global economic growth for the year 2025.Looking ahead, the global economy continues to face numerous uncertainties and challenges. These include the escalating Red Sea crisis, the potential evolution of green subsidy competition into a global trade war, disruptions to supply chains caused by extreme weather events, and heightened geopolitical risks. These factors could all impact trade and investment performance. Tait will continue to closely monitor and assess these developments.
Industry Competition Analysis:The domestic food market in Taiwan is highly competitive. In response, the government and related trade associations are actively promoting food exports. Food industry players are also strengthening their operational capabilities, pursuing international partnerships, and establishing overseas facilities to accelerate their global market expansion. However, the volatile international trade environment presents ongoing challenges, including regulatory compliance, inspection and quarantine requirements, tariffs, logistics, language barriers, and evolving market trends in export destination countries, all of which require continuous monitoring. Emerging opportunities such as the Halal market for Muslim consumers and the growing pet food segment are becoming important growth drivers—what is often referred to as the "second curve" of development. Businesses are actively exploring these markets, but must pay close attention to shifting consumer preferences and target market dynamics to develop effective business and product strategies.
Taiwan's domestic foodservice sector is also highly competitive and approaching saturation. Chain restaurant groups are aggressively expanding into global markets by leveraging cross-sector innovation and international store openings to tap into new customer bases. They are also adopting smart technologies to enhance operational efficiency and meet consumer demand for diverse dining experiences and services.
With the rise in e-commerce consumption, logistics and warehousing strategies have become increasingly critical. Investments in logistics centers and e-commerce platforms continue to drive the growth of online food sales. In retail, channel operators are embracing sustainability through resource reuse and circular food initiatives. They are employing innovative technologies and circular economy practices to reduce carbon footprints and improve resource efficiency.
By adopting diversified strategies, the food industry aims to bolster operational competitiveness and resilience, making agile adjustments and innovating business models to respond to market changes and generate new growth momentum.
F.
Policy and Planning
Short-Term Enhancement Plan:Tait's short-term business strategy focuses on cultivating its own brands by emphasizing the use of locally sourced ingredients and implementing raw material traceability management. For agency brands, the strategy centers on collaborations with well-known international partners, jointly promoting products with brand principals. In the domestic market, efforts include consolidating distributors and expanding into modern retail channels. Internationally, the focus is on penetrating the Asian consumer market.These initiatives are aligned with market demands and Tait’s channel development plan, aiming to broaden product opportunities and achieve phased growth in shareholder value.
Mid- to Long-Term Enhancement Plan:For long-term development, Tait aims to gain deeper control over brand direction. Efforts for own brands will focus on enhancing brand value and premium positioning. For agency brands, the strategy will concentrate on Japanese and Korean products, along with the introduction of internationally marketable brands. By prioritizing brand management, product development, and market consolidation, Tait seeks to maximize investment returns and create long-term value for shareholders.
TOP