LITEON Technology Strengthens Governance of the Board

Reading time ( words)

LITEON Technology held its 2021 annual general meeting, during which the shareholders passed the distribution of a NT$3.4 cash dividend per common share, a record DPS, in line with the company’s high and stable dividend policy. In 2020, LITEON posted the annual consolidated sales of NT$157.13 billion, operating profit of NT$10.21 billion, up 9% Y-o-Y, and net profit of NT$10.02 billion with EPS of NT$4.31, up 7% Y-o-Y, hitting a record high. Furthermore, the approval was granted for the election of one additional Independent Director MK Lu in the meeting.

“Despite the impact of COVID-19 pandemic, LITEON management team has set profitable growth as the primary goal of operations. Through fast-initiating digitalization, shortening supply chain optimization and global footprint management over the past year, we have accomplished sustainable business operation and created new competitive advantages in the post-pandemic era. LITEON’s performance in profitable growth posts new milestone this year. Based on accumulated solid operation and financial foundation for years, we continue to innovate and make changes. It’s our belief to become a company with higher investment value and endeavors to achieve this goal.” said Tom Soong, Chairman of LITEON Technology.

LITEON AGM approved the election of one additional Independent Director MK Lu today, who will facilitate the execution of LITEON’s growth strategies. LITEON has established Nomination Committee in February 2021 with responsibility for devising the criteria for directors and executive officers and seeking and nominating candidates based on these criteria to strengthen management team. LITEON Technology Chairman, Mr. Tom Soong, serves as Chief Sustainability Officer since this June 22nd. All these actions will further enhance Board’s supervision mechanisms and corporate governance. Meanwhile, LITEON delivered steady growth in the first half of this year, to align business performance with shareholders’ interests, the Board has approved a NT$2 cash dividend per share in the first half of 2021 and share buyback for transferring to employees, for the purpose to attract talents, motivation and increase employee’s holdings.

In terms of ESG, LITEON has advocated Quality Education, Industry, Innovation and Infrastructure, Responsible Consumption and Production, Climate Action, Life Below Water, and Partnership for the Goals etc. in response to United Nations’ Sustainable Development Goals (SDGs). LITEON SEAHOPE project has organized a series of "creative beach cleanup" since 2018 and transformed the recycled marine waste Styrofoam into recycled plastic by cooperating with social enterprises, Penghu County government and Industrial Technology Research Institute. In 2020, LITEON further sponsored the world’s first container that can handle on-site processing and significantly reduce the shipping volume of marine waste Styrofoam by 90% to Penghu and Kinmen County governments. The recycled plastics were successfully used in LITEON’s keyboards and mice products and obtained certifications of using 76% Post-Consumer Recycled (PCR) material and traceable origin, which made LITEON the first company introducing marine waste Styrofoam into electronic products in the world.

LITEON aims to develop sustainable governance, increase its influence in the industry and achieve environmental sustainability. LITEON was just awarded the First Prize in Electronics Technology Industry of Global Views Magazine’s 2021 annual overall CSR survey. LITEON has been selected as a member of the Dow Jones Sustainability Indices (DJSI) for ten consecutive years, included in the Constituent MSCI ESG Leaders Indexes for seven consecutive years, awarded “Bronze Class” in the Computers & Peripherals and Office Electronics industry in the 2021 Sustainability Yearbook by S&P Global, and received the highest rating of "Leaderboard" in 2020 CDP Supplier Engagement Rating (SER). In Taiwan, LITEON was consecutively certified as a constituent in the FTSE4Good Taiwan Index Plus (TIP) Taiwan ESG Index, awarded “Corporate Citizenship” Award from Common Wealth Magazine for 14th straight years, and 2020 Top 10 Domestic Companies Sustainability Model from TCSA.


Copyright © 2022 I-Connect007. All rights reserved.