Primax Electronics (TWSE: 4915) held its Annual General Meeting today under the Chairmanship of Jack Pan, Vice Chairman of Primax. The General Meeting acknowledged Primax’s business report and financial statement of year 2022. The profit distribution plan and amendments to the Company's Articles of Incorporation were also approved. Furthermore, one Director and one Independent Director were re-elected during the meeting. In order to attract and retain top talent, the General Meeting approved the issuance of restricted stock awards (RSA) for employees. RSAs could align with the long-term interests of the Company, employees and shareholders and further create value for stakeholders.

Primax’s consolidated revenue in 2022 reached NT$ 79.24 billion, representing a 11% growth over NT$ 71.65 billion in 2021 which showing an impressive performance. Thanks to better product mix, both gross profit and operating profit continued to improve, with gross profit margin and operating profit margin reaching 13.86% and 4.22% respectively, representing an increase of 0.77 and 0.29 percentage points compared with the previous year. Net income attributable to owners of parent in 2022 was NT$ 2.74 billion with YoY growth of 19%. Primax reported a new record EPS of NT$6.1 in 2022. Moreover, the General Meeting resolved to distribute a cash dividend of NT$3.9 per share, setting a historical high payout with payout ratio of 64%.

Primax will continues to invest in new products and technologies, with focus on integrating the Three-Senses-In-One strategy (audio, visual, and interface) as the core competence of the Company. Despite the market and supply chain uncertainties, Primax remains business resilience through improving product mix and enhancing value-added products to its customers. The Company is expanding its product offerings in Automotive, Industrial AIoT, Surveillance, Smart Lock and Professional/Car Audio, bringing a solid competitive niches and driving profitable growth.

For the global deployment, Primax is a commitment that encompasses the fundamental values of “think globally, act locally, and manufacture intelligently,” a tagline that is deep rooted in the Company’s core philosophy. Primax’s state-of-the-art Zhubei Innovation Center will house an advanced laboratory, support industry-academia collaboration, and invest in R&D and new product development. Aside from the main production site in China, Primax is deepening its production capabilities in Thailand with the aim of expanding its global footprint. Meanwhile, the Company is also planning to expand into North America as part of its global deployment and customer service strategy.

Primax places a strong emphasis on ESG by maintaining top corporate governance practices and sustaining high performance culture. Since 2016, the Company has ranked as the top 5% of the Taiwan Stock Exchange's Corporate Governance Evaluation for six years. This achievement demonstrates its dedication in corporate governance and commitment to sustainable management. Furthermore, Primax proactively implements its strategies aligned with the United Nations’ Sustainable Development Goals (SDGs). Definitive goals will be set at the Group level to enforce carbon reduction and energy conservation, while also actively participate in charities and support for underprivileged in remote areas. Considering employees as the most valuable assets, Primax strives to become the best employer and creates corporate value through sustainable business development.