To the global community, the year 2024 was a year of navigating through the political and economic turbulence. It was a year where a pivotal presidential transition occurred in the U.S., and the war raged on between Ukraine and Russia; where sluggish economic growth continued in mainland China, and the negative interest rate ended in Japan. Amid the instability and uncertainty, FENC remained steadfast. By leveraging agility through strategic operations, the company achieved outstanding results. Revenue reached a record high, profit exceeded NT$10 billion, and growth surged by over 20%. FENC’s business and ESG performance caught the attention of DJSI, which has made FENC a constituent stock of the Emerging Markets Index, the first and only industrial conglomerate in Taiwan to be inducted. 

As we head into the future, the course is charted with three focuses: establishing an international presence; promoting the application of innovative technologies; cultivating future talent. We are binding operational strategies closely to sustainable development as we march on towards net zero 2050.

1. Establishing an international presence:

FENC has a worldwide network of production, marketing and distribution. Spanning across Taiwan, mainland China, Japan, Vietnam, Malaysia, the U.S. and the Philippines, it gives us a superior advantage in building a regional supply chain system. In recent years, the growth of FENC’s rPET production capacity has accelerated. In 2024, production operation began at FIGP-Himeji Plant in Kansai, Japan, and Phoenix Technologies International L.L.C. in the U.S expanded its capacity. In 2025, additional production will be put into action in Vietnam, mainland China and Malaysia, strengthening our international presence with value-added recycled products and cementing FENC’s status as the leader in food-grade rPET.

2. Promoting the application of innovative technologies:

FENC is harnessing the power of innovation by focusing on green and digital technologies. Anchored by existing know-how in recycling, we continue to leap into technological frontiers with green innovations such as transforming recycled waste textiles, electronics and gas into new products, and advancing low-carbon fuel alternatives and carbon capture and utilization technologies. On the digital front, we have honed digital capabilities in AI, cloud computing, IoT and robotics, taking them beyond production and efficiency optimization and into the application of smart manufacturing, energy conservation and carbon reduction.

3. Cultivating future talent:

Employees are FENC’s most prized asset, and efforts have been devoted to cultivating professional talent with internationalization skills, digital savviness and sustainable thinking as we prepare for market uncertainties and corporate transformation. We are offering systematic training instruments layered upon diverse learning infrastructure to sharpen the skills of key talent while building the global talent pool to galvanize the talent capital for the future. 

To join the global net zero movement, we are determined to accelerate climate actions for carbon reduction to tame global warming. Following the 1.5°C pathway established in the Paris Agreement, FENC has set the targets for green transformation in 2024, aiming for 50% carbon reduction, 50% green raw materials and 50% green products by 2030. We are marching towards net zero 2050 with ambitious strides. FENC’s circular economy practice and carbon reduction projects took the world stage at COP29 in November 2024, leading the transition to a low-carbon model in the industry. Through these efforts, FENC made the A List with its climate score for the first time in the latest CDP rating, putting FENC among the ranks of leading sustainable enterprises around the globe. 

Sustainable development is a cause to which FENC has given its full dedication, and such devotion has brought us wide acclaims in 2024. FENC received its fifth consecutive Top Ten Taiwanese Companies Sustainability Model Award, the highest honor presented by TCSA. In addition, FENC won two first prizes in the Global Views Monthly Annual ESG Awards for the second consecutive year, making it the only corporation in Taiwan to receive both top honors from Global Views Monthly two years in a row. Additional attention from international institutions include the induction of FENC as a component stock of the DJSI Emerging Markets Index for the first time, and the top 1.5% ranking in the global chemical sector in the Sustainalytics ESG risk rating. We also caught the attention of multiple international financial media, receiving awards from The Asset, Treasury Today and FinanceAsia for efforts in integrating sustainable finance with growth strategies. We have shown the world the fruit of our longstanding commitment to sustainable operation.

FENC is evolving with the tides of time. Its engine of innovation churns with the advancement of production deployment, technological application and talent development, bringing us closer to a total green transformation, the key for maintaining FENC’s leading position amid global competition and materializing its sustainable blueprint.