In a groundbreaking achievement, Chin Fong Machine, Taiwan's premier punch press manufacturer, has secured verification from SGS for ISO 14064-1 greenhouse gas and ISO 14067 Carbon Footprint. This recognition extends specifically to their C-frame punch press products, marking a historic milestone. Chin Fong Machine now proudly stands as the inaugural metal forging equipment manufacturer in Taiwan to attain dual certification for both carbon disclosure and product carbon footprint, reinforcing its commitment to environmental stewardship and industry leadership.

Chin Fong Machine Group's General Manager, Mr. Zeng Shengming (曾盛明), announced a significant milestone, stating, "At the close of 2022, Chin Fong Machine embarked on an extensive carbon disclosure journey, securing dual certification for ISO14064-1 and ISO14067. This achievement not only underscores our dedication to sustainable business practices but also highlights our deep-rooted commitment to the well-being of the planet. Moving forward, we remain steadfast in our focus on green design and process enhancements, actively working towards creating and introducing environmentally friendly and sustainable solutions that align with global trends for the benefit of our customers."

In the business realm, Mr. Zeng Shengming (曾盛明) underscores the significance of comprehending carbon emissions as an essential step toward attaining carbon neutrality. In a proactive move, Chin Fong, under the guidance of consultants, dedicated efforts to train dozens of employees as seeded carbon disclosure personnel last year. The fruition of these endeavors came in the form of obtaining the greenhouse gas verification certificate in October 2023. Looking ahead, the company sets ambitious goals, intending to extend the carbon disclosure experience of the parent company to all subsidiary entities within the group by 2024. The overarching aim is to achieve greenhouse gas disclosure for the entire Chin Fong group within the same timeframe.

In the pursuit of carbon reduction, Chin Fong strategically selected the time-tested C-frame press as its inaugural candidate for carbon footprint verification. The intricate nature of calculating the carbon footprint for punch presses, recognized as complex terminal products, sets them apart from conventional consumer items, mainly due to the absence of most components in the international carbon footprint database. In an ambitious initiative, Chin Fong independently spearheaded a comprehensive assessment involving more than 40 suppliers to determine the carbon footprint of all specially regulated components. This meticulous process involved collecting data on upstream raw materials, manufacturing hours, and power consumption. Despite the considerable investment of time and manpower, Chin Fong successfully passed the carbon footprint verification, revealing that an overwhelming 96.6% of carbon emissions originated from the raw material stage.

Mr. Zeng Shengming (曾盛明) highlighted that 2023 stands out as the best year for the group in terms of business operations and profitability. The primary driving force behind this success is attributed to the overseas subsidiaries, particularly benefiting from the increased demand in the mainland China automotive industry. This surge has provided ample opportunities and orders for Chin Fong's innovative products. Notably, orders from companies like BYD and other automotive-related manufacturers have played a significant role. Chin Fong (China) accounted for 60-65% of the 2023 revenue, projecting it to be the most successful year to date. The group's estimated consolidated revenue for 2023 is around 6 billion NTD, and there's a potential to challenge an EPS of 2.6 NTD, a remarkable feat amid global economic headwinds.

Mr. Zeng Shengming (曾盛明) stated that despite the less favorable global outlook expected in 2024, Chin Fong is gearing up for operational goals amid challenging circumstances. The company aims to achieve these objectives through various innovative models, aligning with the innovative-driven philosophy held in 2023. This approach encompasses innovation in products, processes, resource integration, cost reduction, and more, all geared towards fostering a distinctive and robust competitive edge. Therefore, "innovation" stands as the driving force propelling Chin Fong Group forward, reflecting a sustained commitment to this guiding principle.

For instance, a prime focus on high-efficiency innovation in the welding process, particularly for forging equipment, is crucial. In the realm of forging machinery, the welding process forms the foundation, and ensuring high-quality welding of structural components while reducing costs is integral to maintaining competitiveness. Chin Fong has adopted an industry-academic collaboration, partnering with Taiwanese and local Chinese universities. This collaboration has led to the introduction of robotic welding, revolutionizing the process. Through this novel approach, what used to require individual operation has been elevated to a single operator managing 2-3 machines, resulting in cost reductions and enhanced competitiveness. Such innovative production models will continue to be explored and refined for breakthrough advancements.

Crossing the shores of both sides of the strait, the Chin Fong Group stands as a powerhouse with a distinct advantage in resource integration. Mr. Zeng Shengming (曾盛明) highlights that facilities like the Chin Fong Huai'an Plant have successfully evolved into the group's manufacturing hub. Many resources can be strategically allocated within the Huai'an Plant, positioning it as a vital strategic base for Chin Fong Group's global footprint. For instance, in the realm of forging equipment, where the proportion of structural components is high, competitive advantages arise from cost-effective material resourcing. This is just one aspect; there are numerous others. Leveraging favorable resources in the local geography, coupled with innovative processes and resource integration, instills confidence in meeting the operational challenges of 2024.

With a history spanning over 60 years, the Chin Fong Group has cultivated the "Craftsmanship Spirit," accumulating a robust foundation for the enterprise. Mr. Zeng Shengming (曾盛明) has aptly applied the guiding principles outlined in a petition by Mr. Sun Yat-sen, the Father of the Nation, addressed to Mr. Li Hongzhang. (李鴻章): "Utilize people to their full potential, make the most of the land, ensure efficient use of resources, and facilitate smooth flow of goods." This philosophy has successfully transformed into a cornerstone for corporate governance, laying a solid groundwork for sustainable development. Looking ahead to 2024, Mr. Zeng Shengming (曾盛明) notes that metal forming equipment, serving as a prominent indicator in the manufacturing industry, has garnered attention from international buyers with ongoing discussions about machinery orders. As the manufacturing equipment sector heats up, it is anticipated to signal a positive upswing in the global economic landscape.