For future development, we will make continual
improvement to pursue sustained operations.
True to our mission statement, TSRC strives to become an essential partner to our customers, and is committed to innovation, growth and excellence. TSRC has grown to become one of the largest synthetic rubber and elastomer companies in the world. While dedicating its effort in pursue of strong financial performance, we never forget our commitment to fulfill our corporate social responsibility and corporate sustainable development.
TSRC’s overall financial performance grew steadily in 2018 with improved operating performance versus the past few years. We faced several industry challenges including weak demand for synthetic rubber caused by slower growth in China automotive and tire market and abundant supply of low-price natural rubber, intense pricing pressure driven by aggressive competition, and the trade dispute which negatively impacted the market demand. However, the effort over the past years of investing and developing our specialty business portfolio has paid dividends with increased TPE and ASM sales and profit contributions. In addition, we were successful in turning around and significantly improving our joint venture investments in India and China.
Technology innovation is a key foundation for TSRC in driving long term profitable growth. Over the past few years, we have successfully developed new solutions to support customers in new technology and product development. This in turn contributes to the overall enhancement of the environment, resource utilization, and stakeholders’ benefits.
Regarding corporate governance, TSRC has stipulated “Code of Professional Conduct” and “Code of Ethical Conduct” which provide ethical guidelines for all employees, managers, and Board Directors in accordance to “The Company Act”, “Securities Exchange Act”, and “Corporate Governance Best Practice Principles for TWSE/TPEx Listed Companies”. Besides disclosing major CSR items in our annual report, TSRC also issues CSR report in support of increased transparency of our business operation.
TSRC is committed to corporate business sustainability. “Sustainability” or “corporate social responsibility” has never been a standalone issue but a core value internalized in actions taken by TSRC. Our regular disclosure in greenhouse gas data is well recognized by the stakeholders. In addition, we utilize management system to carry out tasks in energy efficiency enhancement, facility efficiency improvement, pollution reduction, raw material substitution, and waste reutilization.
TSRC upholds its founding value of caring for the community. Besides playing a major role in the Dashe Industrial Zone Company Alliance’s initiatives and activities such as giving back to the local community and sponsoring chemistry courses, our Social Caring Committee also conducts outreach programs including financial donations to thousands of underprivileged students and chemistry education activities in rural areas. The chemistry education program, entering its 8th year, involves hundreds of volunteers to promote basic knowledge in science. These undertaking demonstrate TSRC’s commitment to chemistry education and contribution to the society. We will maintain our commitment in social engagement through concrete actions and results.
Looking forward, TSRC will continue to strengthen our business competitiveness and through economic, environmental, and social engagements fulfill our social responsibility and contribute to continuous sustainable development.