Looking back at 2022 , the global supply chain was once again impacted by the outbreak of the Russo-Ukrainian War, leading to a worldwide crisis of inflation. Central banks around the world adopted tighter monetary policies to control risks. Private consumption began to slow down while raw material prices and costs continued to rise. This created significant uncertainty for the economic outlook and business operations in that year, testing the resilience and responsiveness of companies.
Embracing innovation has been a key factor in sustaining profitability and growth for Primax Electronics. We integrate acoustics, visuals, and human-machine interfaces to develop critical new technologies and products that extend our business reach into people's daily lives. In terms of production manufacturing and global expansion, our innovation center in Zhubei, Taiwan, is expected to include advanced laboratories, industry-academia collaboration centers, and new product manufacturing centers. In addition to our major production base in mainland China, we will continue to deep enproduction in our manufacturing base in Thailand. This year, we will also invest in establishing a facility in North America to achieve regionalized customer service.
Formulated the Primax 2030 sustainability strategies and Blueprint in alignment with the Sustainable Development Goals (SDGs)
,As a leading provider of information, electronic, and consumer products solutions,we have framed our sustainability strategy blueprint in response to six United Nations Sustainable Development Goals (SDGs) in 2022 , and have developed 29 strategic objectives and corresponding short, medium, and long-term action plans based onthis blueprint. Performance indicators have been set for each responsible unit todeeply integrate sustainability into our operations, maximizing our own influence.
In 2022 , Primax joined the RE 100 initiative, committing to using 100 % renewable energy and achieving carbon neutrality by 2040 . To achieve more aggressive decarbonization targets,we have committed to reaching net-zero emissions by 2050 and have planned the net-zeropathway. We will set reduction targets based on the Science Based Targets initiative (SBTi) and systematically formulate policies and promote reduction plans. This will serve as the basis for setting TCFD goals and indicators. In 2023 , we have already submitted our carbon reduction target review applications to SBTi for our significant production facilities in Chongqing and Kunshan, demonstrating our commitment to setting SBT targets throughout the Group.
Attracting talents and treating them well to become the best employer, receiving multiple external recognitions.
In recent years, we have actively deepened our commitment to sustainable talent development and joined the Taiwan Sustainable Talent Action Alliance in response to the wave of diversity, equity, and inclusion (DEI). At the same time, we have been dedicated to cultivating a healthy and friendly workplace for many years. In addition to recognized with awards for "Best Companies to work for in Asia", we have also received awards such as the Ministry of Labor's Work-Life Balance Award, the Sports Administration's Sports Enterprise Certification, and the Excellent Employer for Excess Employment of Disabled Persons in Taipei City. With a caring approach to employees, comprehensive systems, and a pragmatic corporate culture, we attract and develop outstanding talents.
Chairman Duh, Jia-Bin