To Our Valued Stakeholders Concerned with Primax's Sustainability Development,
In 2024, as global inflation gradually eases and technological innovation accelerates, Taiwan finds itself at a pivotal moment of transformation. As a critical hub in the global electronics supply chain, Taiwanese enterprises must strike a careful balance between technological advancement, supply chain resilience, and sustainable development. However, persistent high interest rates continue to exert pressure on market demand, while major economies' pursuit of de-risking strategies has triggered substantial shifts in global supply chains. At the same time, businesses face mounting challenges such as geopolitical tensions, the push for energy transition, and volatility in global market demand—all of which test the resilience and adaptability of enterprises.
Deepening Transformation: Driving Profit and Product Edge
Amid an evolving global landscape, Primax continued to advance its enterprise-wide transformation in 2024. With a strong foundation in X-IN-1 Sensory Fusion technology, the Company refined its product portfolio to improve profitability, enhance product quality, and strengthen operational efficiency. Looking ahead, Primax plans to strategically expand into key sectors including automotive electronics, public safety, and fleet management, aiming to broaden its market presence and capture new growth opportunities. In line with global supply chain strategies and the increasing need for diversified production capacity, the Thailand Plant experienced steady growth in shipment volume. To meet customer expectations for distributed manufacturing, the Company is planning additional capacity expansion to further enhance its global competitiveness.
Science-Based Targets: Decarbonizing Our Supply Chain
In response to the global call for net-zero emissions, Primax has established a comprehensive roadmap to achieve net-zero carbon emissions by 2050. This roadmap is built on core strategies such as improving energy efficiency, expanding the adoption of renewable energy, implementing internal carbon pricing mechanisms, and developing low-carbon products. The Company has set group-wide carbon reduction targets for 2025 based on the Science Based Targets initiative (SBTi), and has submitted these targets for official validation. Primax acknowledges that addressing the scale and complexity of climate change requires collective action beyond a single company's efforts. As such, we have extended our decarbonization strategy across the value chain by setting reduction targets and establishing short-, medium-, and long-term action plans. These include supporting key suppliers in conducting greenhouse gas (GHG) inventories, co-developing emissions reduction targets, and offering capacity-building programs to facilitate their low-carbon transition. We believe that strong partnerships with suppliers are essential to reducing emissions across the industry and enhancing overall competitiveness. In alignment with the spirit of SDG 17, Partnerships for the Goals, we are committed to collaborative climate action that drives shared progress.
DEI and Talent Sustainability: A Shared Vision
Primax is committed to building a workplace founded on trust and openness, where employees feel respected, experience a sense of belonging, and are empowered to express their ideas without hesitation. In 2024, our efforts to promote diversity, equity, and inclusion (DEI) focused on three key areas: expanding development opportunities, enhancing compensation and benefits, and cultivating an inclusive workplace culture. To support these goals, we introduced a range of related policies and initiatives. We also joined the "TALENT, in Taiwan – Taiwan Talent Sustainability Action Alliance," demonstrating our active support for long-term talent sustainability. In 2024, Primax Group received several recognitions, including Best Companies to Work for in Asia, Diversity, Equity, and Inclusion (DEI) Award, CommonWealth Talent Sustainability Award, Healthy Corporate Citizen Award, Work-Life Balance Award, and Best Employer Brand Award. We will continue to uphold our peoplecentric approach and long-term commitment to sustainable growth.
Biodiversity and Community: Cultivating Shared Prosperity
Corporate social responsibility extends beyond carbon reduction and a friendly workplace. We are also deeply concerned about natural ecosystems and the development of local communities. Taiwan's biodiversity faces unprecedented challenges due to rapid climate change and urbanization, putting the habitats of many native species at risk. In response, Primax has launched a long-term butterfly conservation and community development initiative in the Taoyuan Community of Taitung County. This program integrates habitat restoration, ecological education through the KIST (KIPP Inspired School in Taiwan), community engagement, biodiversity monitoring, and data collection. Through these efforts, we reaffirm our commitment to environmental stewardship and to building a model of sustainable, shared prosperity with the communities where we operate.
Sustainable Impact: Driving Change, Earning Acclaim
Primax continuously monitors and enhances its ESG performance through participation in various domestic and international sustainability assessments. In 2024, the Company was included in the S&P Global Sustainability Yearbook for the second consecutive year and maintained a leadership-level rating in the CDP Climate Change Questionnaire. In Taiwan, Primax received multiple recognitions, including the CommonWealth Corporate Citizenship Award and the Taiwan Corporate Sustainability Award. As we progress on our sustainability journey, we recognize that challenges and opportunities are closely intertwined. Through innovation and collaboration, we are committed to strengthening our competitiveness and expanding our positive impact.
Chairman and President
Jack Pan