Company Profile - CPTT Company profile.pdf · Company Profile Chunghwa Picture Tubes, Ltd. was...

Company ProfileChunghwa Picture Tubes, Ltd. was founded on May 4, 1971. The company’s

shares were listed on the Taiwan Stock Exchange on September 17, 2001 (stock

code: 2475). With the passion for creating new visions for people, and a rich

array of experience in the development and mass production of visual display

products, CPT is enthusiastically devoted to the development and production of

IT and small and medium-sized display panels, keeping in mind our corporate

philosophy of “Creation, Perfection and Teamwork.”

Establishment and Growth

Illustrator: Ms. Zih Yu, Liao/Employee of CPT

Financial Highlights Management PhilosophyOur Products Global Deployment

5

Company Profile

Management ofSustainability Issues

Reducing Energy and Resources Consumption, Develop Environmentally Friendly Products

Provid High Quality Green Products, Winning

Customer RecognitionEncourage Suppliers’ Green Management and Green Services

Establish LOHAS Working Environment and

Voluntary Environmental ConservationWork with Employees to Care for Neighboring Community and Establish Green Image

Establishmentand Growth

CPT’s production plants in Taiwan currently engage in the research, manufacturing and distribution of TFT-LCDs and colour filters (CF). With the goal of becoming a global enterprise and in order to engage in diverse management and investments, CPT has established marketing and distribution footholds in our target markets through offshore subsidiaries. At present, CPT has production plants in China and Malaysia, of which the primary business activities are the research, manufacturing and distribution of cathode ray tubes (CRT) and assembly of TFT-LCD units. In the midst of our pursuit of technological development and innovation, CPT is fully aware of the importance of our corporate social responsibilities. With respect to environmental conservation, our CSR commitments are to conserve energy, reduce carbon and design green products; at the social level, we are constantly involved in and take an active role in community affairs.

President’s Message/Mr. Sheng-Chang Lin

In future, CPT will remain dedicated to its role as a leading display component manufacturer and hopes to assist Taiwan’s TFT-LCD industry to keep abreast of global competition. Meanwhile, CPT is committed to achieving innovation and breakthroughs in opto-electronic technology to become a leader in the visual communications industry.

Besides our achievements in assisting industrial developments, CPT has also made solid contributions to Taoyuan County where one of our production plants is based. For the past several decades, CPT has not only created countless employment opportunities for the local people and stimulated local economic growth, but has also formed industry-academic partnerships with several tertiary institutions and technical colleges to enhance business R & D and to nurture ideal opto-electronic candidates in demand by the industry.

CPT celebrated our 40th anniversary in 2011. Our employees organized a series of events to celebrate the highly significant occasion and to share both the joy and hardship endured on the road to success. Most worthy of mention here is the initiatives proposed and actions taken in the past year by the sub committees of Green Management Committee, an inter-departmental committee established specifically to address the company’s sustainability issues. We trust that CPT has taken a first solid step forward as far as CSR management is concerned. We will certainly strive to accomplish more in the times to come.

The fast changing external environment urges us on by not giving us any chance to slacken our pace. After several years of trial and exploration, CPT has affirmed our focus on the R & D, production and application of small and medium-sized display panels. Our next step is to actively improve our technical abilities upon finding the right products. CPT became the first company to set up a “front-to-backend touch panel” production line in Fuzhou. Positive market feedbacks we received would certainly enhance our confidence in turning our loss-making position into a profitable one.

In addition to investing in equipment re-engineering, most importantly, our products must not only satisfy clients’ needs but also “exceed green expectations.” The Green Management Committee is committed to achieving the dual goal of fostering CPT’s own green production processes and promoting supplier CSR in order to extend our influence on current CSR issues. It is essential to “embed” the “Spirit of Accountability” in CPT’s “DNA” in order to achieve the aforementioned goals. This means proposing effective incentive measures to motivate employees, assisting employees in formulating their career plans, and exercising clearly defined performance appraisal measures. These are the only ways for CPT to attract and retain valuable employees, who are vital to help us create a multiple-win situation for the company, employees, and shareholders.

This is a generation that witnesses acute changes. We call for all employees of CPT to stay prepared for learning, be infused with energy and uphold the “Spirit of Accountability” to welcome the next, exciting decade.

CPT was the first manufacturer in Taiwan to introduce the technologies for the production of picture tubes, large-sized thin film transistor liquid crystal display, thin film transistor liquid crystal display (TFT-LCD) and Plasma TV. In future, CPT will remain devoted to managing our internal operations and flexibly adjusting our product portfolios to manufacture products with high added values but our primary business focus will be on small and medium-sized display panels and touch screens.

Corporate Social Responsibility Report�

Establishment of the ERP System

For the purpose of improving our operational efficiency, CPT has adopted measures to reduce the overall costs of operation, improve operating profits, enhance coordination in production and marketing and the functioning of the supply chain, de-stock and improve inventory turnover, integrate IT systems and enhance the group’s global logistics support capabilities. CPT began the construction of the ERP system in September 2010. The system was scheduled to go live in July 2011, upon which CPT is expected to become more competitive and many new business opportunities will be created under the new ERP system.

Establishment of CPT Technology (Group) Co., Ltd.

Mingdong Electric (Group) Co., Ltd. (Stock Code on the Shenzhen Stock Exchange is 000536) underwent asset and organizational restructure in early 2010. Assets invested into the company included four module plants namely, CPT Display Technology (Fujian) Ltd., CPT Display Technology (Shenzheng) Ltd., Chunghwa Picture Tubes (Wujiang) Ltd., and CPT TPV Optical (Fujian) Co., Ltd. Mingdong Electric (Group) Co., Ltd. was renamed “CPT Technology (Group) Co., Ltd. after we gained the official approval from the Shenzhen Stock Exchange in January 2011. CPT became the first Taiwan-capital firm with shares traded as A-shares on the Chinese Stock Exchanges.

Business Strategic Management

Framework of CPT’s ERP System

Balanced Score Card

SRMSupplier

Relationship Management

Financial and Fund Management

Business Performance Management

CRMCustomer

Relationship Management

Budget Management Analytical Reports

Consolidated Statements

Financial Accounting Cost

BOM (Bill of Material) Reports Management ERPMaterial Number Management

Sales Production Quality Assurance Procurement

ERP

Manufacturing Execution System (MES)

Supplier Management

Projected Goals and BenefitsSatisfaction of management requirements and integration of a multi-faceted enterprise (trading, processing, by product, by geographic regions)

Integration of Cross-strait Group Management:

》Process integration and connecting information》Mutual integration, fast flowing and handling of information 》Integration and application of group management data

》Different management models adopted by different business groups》Consistent with the planning and management of profit centers》Integration and application of clusters of data shared among different business groups

Financial Analysis Ability:

》 The operating network of a global enterprise (including multi-exchange rate/ multi-currency / multi-account books / multi-GAAP / supranational and supra-regional transactions)

》Conformance with International Financial Report Standards (IFRS)》Analysis of product costs, pricing and profitability

Operating Performance

》Shortening the decision-making time》Shortening the account closing time》Increasing the inventory turnover ratio》Improving the operation processes

Management Strategy

Operational Integration

Financial Management

The verdant CPT plant area

Supp

lier

Custo

mer

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Company Profile







AwardsReceived the 18th “Taiwan Excellence Awards” from the Ministry of Economic Affairs for “15.6" Liquid crystal Retarder 3D Display,” “10.1" LC Lens 3D Glasses Free Monitor,” “10.1” 4-view Parallax Barrier 3D MN,” “21.5" Pattern Retarder 3D Display” and “4.8” High 3D Resolution Auto-stereoscopic Display”

Milestones- 2010

Milestones● The Board of Directors resolved to appoint

Mr. S. C. Lin as the President of CPT.● Establ ished the Green Management

Committee to carry out green management.

AwardsAttained product carbon footprint certification for the 22” TFT-LCD panel.

MilestonesSigned a NT$22.8 billion syndicated loan agreement.

AwardsReceived green product quality accreditation for the 31.5” TFT-LCD MN panel.

AwardsReceived the 10th Arts and Business Award presented by the Council for Cultural Affair of Executive Yuan.

MilestonesOfficially implemented the ERP system.

Awards & AchievementsReceived the “Distinguished Green Packing Design Award” presented by the Environmental Protection Administration and Media Attention Award for “Boxless Module Packing.”

Milestones● In 2010, shipment for small and medium-sized display products hit record

high, reaching 350 million pieces and the company’s worldwide market share was up to at least 13%.

● CPT signed the asset transfer agreement with Henghao Technology Co., Ltd..

● CPT’s TFT-LCD production line was the first in the industry to undergo transformation and re-engineering, which involved inputting a 0.3mm thick substrate to the 4.5G display panel and setting up a “front-to-backend touch panel” production mode.

● Had the largest number of participants to attend the Taipei Marathon for the 4th consecutive year.

Awards● Received the “Excellence Award” in the

Corporate Citizen Category for the “2010 National Safe and Healthy Workplace Week” event.

● Comple ted p roduc t ca rbon foo tp r in t certification for the 15.6” TFT-LCD panel.

Awards● The f i rst optoelectronic company to receive

the Validated Audit Report (VAR) issued by the Electronic Industry Citizenship Coalition (EICC).

● Invited to attend the filming of the “business product packaging reduction program” by TTV news to share CPT’s creativity in introducing boxless packaging.

● Received the “2010 Taiwan CSR Awards”- Merit Award in the “Large Manufacturing Firms” category.

MilestonesHeld CPT’s annual Family Day.

MilestonesFor the first time, CPT’s CSR Report was verified and accredited by an independent external agency, SGS Taiwan Ltd.

AwardsReceived the Global Innovation Award for Green Display Products for the 21.5” Green LCD panel.

January

March

Vice President Siew’s recognition of CPT’s corporate social responsibility report

April

May

June

August

September

October

November

December

Corporate Social Responsibility Report8

Global Presence

Note: The number of employees included the number of full-time employees, contractors and would-be conscripts employed for R & D service as at December 31, 2010. The stake in CPT’s Hukou Plant was sold in full in July 2010 and April 2011, respectively and was thus not included in the calculation. CPT TPV Optical (Fujian) Co., Ltd. and Chunghwa Picture Tubes (Malaysia) Sdn. Bhd. (Kampar Plant, Malaysia) were included in the calculation as CPT has obtained the management right for these two companies. As a result of business transformation, CPT made a public announcement in June 2011 of our intention to phase out the CRT business and the plan to dispose of the company’s production plants, land and long-term investments in Malaysia. CPT expects to finalize the transaction and pocket the proceeds amounting to MYR 391 million (approximated TWD 3,572 million) prior to the end of 2011. Gain on disposal will approximate MYR 166 million (approximated TWD 1,514 million).

Production Plants/Subsidiaries

Chunghwa Picture Tubes, Ltd.Taoyuan PlantLungtan PlantYangmei PlantMalaysia PlantKampar PlantCPT TPV Optical (Fujian) Co., Ltd.Chunghwa Picture Tubes (Wujiang) Ltd.CPT Display Technology (Shenzheng) Ltd.CPT Display Technology (Fujian) Ltd.

Chunghwa Picture Tubes (Malaysia) Sdn. Bhd.

CPT Technology (Group) Co., Ltd.

CPTF Optronics Co., Ltd.CPTF Visual Display (Fuzhou) Ltd.

Subsidiaries

Chunghwa Picture Tubes (Wujiang) Ltd.

Year Established:2002

Employee:3824

CPT Display Technology (Shenzheng) Ltd.Year Established:2006

Employee:900

CPT Display Technology (Fujian) Ltd.


Employee:1605

CPTF Visual Display (Fuzhou) Ltd.


Employee:995

CPTF Optronics Co., Ltd.Year Established:1994

Employee:3334

Taoyuan Plant

Year Established:1971,2001

Employee:2401

Lungtan Plant


Employee:3886

Yangmei Plant


Employee:1282

Malaysia Plant

Year Established:1989Employee:1616

Kampar Plant

Year Established:1991Employee:817

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Company Profile







Corporate Vision: To pursue the physical and mental happiness of employees, and to contribute to the progress of society.

Corporate Mission: To seek stability and profitability, to sustain growth, to innovate relentlessly, and to fulfill corporate social responsibility.

Corporate Culture: Integrity, Honesty, Diligence, FrugalityC: Creation P: Perfection T: Teamwork Entrepreneurship: Creation, Perfection and Teamwork.Quality Policy: Customer First, Full Involvement and

Zero Defect.

CPTCore Values

Integrity

Agile

Passion Cooperation

Innovation Accountability

CPT’s New Core Value

●�AgilityCPT expects our employees to handle work with agility

and encourages employees to gain professional competence, leverage resources efficiently, and respond rapidly to meet clients’ immediate needs in order to provide consistent standards of product service and technology.

●�AccountabilityCPT expects all employees to work with accountability

and encourages employees to actively solve problems and deliver results. Employees are also expected to be fully accountable for promises made to clients and be determined to meet clients’ expectations in order to establish product credibility and corporate reputation.

●CooperationCPT expects our employees to work collaboratively and

encourages teamwork and information sharing in the workplace. Also, CPT aligns performance to organizational objectives to promote the sustainable development of technology, society and the environment.

●�IntegrityIntegrity is the fundamental requirement of our employees.

CPT encourages employee honesty and integrity. CPT complies with corporate governance regulations and conducts business ethically and is constantly working to maximize profits for our employees, clients, partners, and shareholders.

●�PassionCPT expects all employees to treat their work with

passion and encourages employees to be positive thinking, be dedicated to their work and manage the work-life balance to create a great workplace environment.

●InnovationCPT encourages employees to grow by being innovative

and to put forward innovative and feasible ideas to create added values for the company. CPT offers employees diverse training programs and development opportunities to foster the quality of human resources.

Management Philosophy

CPT has being upholding our corporate philosophy of “Creation, Perfection and Teamwork” and has evolved from a specialist picture tubes manufacturer at the time of incorporation, into today’s dedicated manufacturer of niche, small and medium-sized display panels following many years of dedication to R & D, innovation and business growth.

Corporate Social Responsibility Report�0

Offering Total Solutions

CPT is constantly launching new products to satisfy market demands for products of different sizes and application. We actively seek for the opportunity to produce small and medium-sized products that may potentially yield higher profits in our 4G and 4.5G product lines, and are currently in aggressive pursuit of promoting certain niche products such as medium and high-end panels, car-mounted panels and touch panels. Trial production of Electro Phoretic Display (EPD) on a 0.5mm thick substrate in the 6G line has been successful. In line with the Japanese demands for car-mounted panels, we have ensured more complete business coverage and we trust that the delivery of customized EPD products will certainly bring up shipment of medium-sized panels. CPT took the advantage of the growth in the smart phone market by launching medium and high-end handset panels such as the HVGA to WVGA (high-resolution) series. We aim to produce products with high-added values to meet market demands.

CPT continues to take full advantage of our strength for the 6G production lines and focuses our core resources on production of 17”/18.5”/21.5” wide vision panels. In 2011, CPT will concentrate on developing 16:9 NB panels in addition to our developed 14.0” & 15.6” wide vision NB panels. The 7~10.x” panels for with wide viewing angle performance for Tablet PCs were put into mass production and launched officially in the 2nd quarter this year. Given the call for energy and

environmental conservation, we forecast that demand for LED backlight panel will be in excess of 50%.

The central part of CPT’s business plan is to develop full-range TFT-LCD panel products. Our long-term customers for LCD-applied products will continue to be manufacturers of leading brands and major system OEMs. We are actively seeking strategic cooperation with downstream suppliers for module assembly. Meanwhile, we have acquired stake in Xiamen Overseas Chinese Electronic Co., Ltd, a leading manufacturer of LCD TV in China, to enhance our distribution channels and significantly improve our production and distribution abilities.

In order to increase the speed, cost advantages and flexibility of the supply chain, CPT out paced other global manufacturers and invested in the production of medium-sized display products using our 6G production line, introducing thin glass substrates, producing projected capacitive touch panels using our 4.5G TFT-LCD production line and actively undertaking vertical integration of small and medium-sized display products by investing in glass substrate slimming processes and liquid crystal scribing, breaking and injection process to satisfy the demand for thinner and light-weight tablet devices and to offer total touch solutions.

“Front-to-backend touch panel” production mode:

Touch Sensor

Touch MDL

Touch Window

SensorResource

Touch Sensor +

IC & FPC

Touch MDL +

Cover Lens

Touch Window +

LCM

Touch TFT LCM

Our Products CPT has witnessed the history of display panel developments. CPT began to produce black and white picture tubes in 1971, and subsequently in the 1980s, color picture tubes. In 1996, CPT produced the first 10” STN-LCD in Taiwan, in 1999, the first large-sized TFT-LCD and in 2000, the first 46” PDP.

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Company Profile







Matching Market Demand

Growth in the TFT-LCD market will be largely fuelled by the demand for portable devices (such as smart phones/Tablet PCs). CPT’s current 6G production line is capable of achieving the best economic advantages producing the largest-sized panels. We will be able to respond to seasonal fluctuations in market demands upon obtaining certification from leading global brands. Then, we will be able to adjust our operational risks and at the same time develop emerging products with high yields.

CPT has formed a LED company by entering a joint venture agreement with Unity Opto Technology Co., Ltd., Formosa Epitaxy Incorporation and Forward Electronic Co., Ltd., involving the vertical integration of the upstream and downstream supply chains, to enhance our competitive strength in the polarizer modules and LCM markets. On the other hand, the Group also gets a direct supply of LED light from the joint-venture LED company in order to rapidly meet the demand for small and medium-sized panels required for Tablet PCs. The joint-venture arrangement will enable the company to significantly reduce costs of materials and guarantee smooth production and distribution. The launch of Tablet PCs in 2010 has created new demands for man-machine interface, and will certainly fuel the growth of panels and touch sensors. On the other hand, the large-sized panel business is under active transformation and resources are being devoted to deploying niche products. The capacity of our 6G production line for touch panels may be further expanded. CPTF Visual Display (Fuzhou) Ltd. in China underwent active transformation to concentrate on touch panel products to welcome thriving demands in this market segment.

Main materials used to produce TFT-LCD include color filter, IC, polarizer, and glass substrate. For each type of materials, CPT sources the supply from at least two suppliers and maintains a sound relationship with these suppliers to diversify our procurement risks and maintain flexibility. We have a stable supply of main materials required for production. CPT’s Yangmei Plant also produces color filters that are in tight supply and of higher costs in coordination with the production plan to effectively reduce our production costs.

In order to maximise the products’ added values and to match market demands, CPT dynamically adjusts our product portfolios to include 18.5” and 21.5” panels with 16:9 resolution. Shipment for 18.5” and 21.5” panels in 2010 was the 4th highest worldwide; LCD TV panels the 7th and display panels the 6th.

Shipment for small and medium-sized panels by year

500,000

450,000

400,000

350,000

300,000

250,000

200,000

150,000

100,000

50,000

02007 2008 2009 2010 2011

60,588 51,599

150,418

351,693

500,000｛｛

｛Shipment for the full year was forecasted to exceed 500 million pieces for 2011.

192%↑

134%↑↑

（Unit:1000pieces）

Capitalization of existing resources to transform into smart products

Corporate Social Responsibility Report�2

CPT is a controlled entity of Tatung Co., Ltd. (ownership interest: 8.44%). Shareholders of CPT approved in the general shareholders’ meeting convened on May 20, 2010, the proposal put forward by the Board of Directors to undertake a capital reduction to offset accumulated losses as at 2009. Registration of change in capital was completed in July the same year. For the year ended December 31, 2010, CPT’s production plants in Taiwan and Malaysia reported losses and no tax was payable. These production plants did not receive any financial aid from the government. CPT Display Technology (Shenzheng) Ltd. and Chunghwa Picture Tubes (Wujiang) Ltd. were entitled to receive property tax credits aggregating RMB 1.04 million from the Chinese government. CPT TPV Optical (Fujian) Co., Ltd., CPT Display Technology (Shenzheng) Ltd. and CPTF Visual Display (Fuzhou) Ltd. were entitled to receive income tax credits aggregating RMB 30.53 million from the local government.

Consolidated net sales of CPT and subsidiaries for the year ended December 31, 2010 totaled NT$ 81.6 billion, showing a marked improvement against the 2009 result. The company derived a net loss after tax totaling (NT$ 15 billion), which was a significant reduction against (NT$ 38 billion) for 2009. The efforts of the CPT team are gradually paying off.

Head of General Management Division, Mr. Wilbur ChienYear 2010 was a year in which CPT accomplished many major tasks including capital reduction, signing of a syndicated loan agreement

and establishment of a new company in China that is listed on the Chinese Stock Exchange. The aim of the capital reduction was to reduce the size of our capital, offset accumulated losses and ultimately be in a position to distribute profits to our investor as early as possible. CPT entered into a syndicated loan agreement for the purpose of spreading out our debt repayment obligations and reducing the pressure of debt repayments on our operations.

At present, CPT has no major investment plan, but only partial business improvement and small-scale expansion plans. Our priority at the moment is to find the right product(s) and become profitable. Our most importance task at hand is to build shareholder confidence.

CPT’s prominent position in the industry has made us one of the few Taiwan-capital companies qualified for listing on the Chinese Stock Exchange. CPT Technology (Group) Co., Ltd. will be responsible for module production and processing as well as managing the company’s relationships with upstream and downstream suppliers. CPT Technology (Group) Co., Ltd. will serve as the company’s main pathway to business development in the Chinese market.

Inevitably, the average salary in China is on the rise. To CPT, it may be perceived as an opportunity for transformation. In the past, CPT has focused on reducing costs, and neglected the importance of increasing products’ added values. In a fully competitive market, it is essential to revert back to the product itself and pursue product differentiation and work on customer service and product design to improve the overall competitiveness of the brand.

Note: The other juridical persons holding increased in 2009 due to private placement of common stock.

Government Agencies

2008 0.00 0.81 28.34 58.36 12.03 0.46 100.00

2009 0.00 4.84 35.67 49.57 9.65 0.27 100.00

2010 0 0.02 37.63 49.57 12.51 0.27 100.00

Shareholder Composition (ownership %)

Year

2008 2009 2010

Consolidated Financial ResultsUnit: New Taiwan Dollar (Thousands)

Net Sales

Gross Profit

Cost of Operation

Net operating profit

Net income before tax of continuing operations

Net income after tax of continuing operations

Personnel Expenditure

100,519,007

-2,274,665

-102,793,672

-13,489,447

-13,869,117

-13,875,112

9,282,001

48,322,679

-21,847,346

-70,170,025

-29,582,890

-38,347,074

-38,016,886

7,429,463

81,691,727

-4,080,665

-85,772,392

-13,573,336

-14,228,091

-15,677,527

8,485,541

Note:Personnel expenditure includes salaries, health and labor insurance fees, pension expense and other personnel expense. Appropriation of earnings including earnings set aside as legal surplus, cash dividends and employee bonuses. During the period from 2008 to 2010, CPT did not make an appropriation of earnings or issue employee stock options.

Financial Highlights

CPT’s future plan is fully devoted to exploiting opportunities in the FTF-LCD market. We will continue to control our inventory levels and improve the existing cost structure to improve business profitability. We hope to enhance our flexibility and responsiveness to problems through organizational re-engineering with the goal of increasing customer satisfaction and ensure more comprehensive product planning.

Shareholder Composition Financial

InstitutionsOther Legal Entities

Individuals Foreign Institutions and Aliens

Treasury Stock

Total

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Company Profile







Stabilizing Market Share

We have sold over 350 million pieces of small and medium-sized panels in 2010 and were ranked the second in terms of shipment among other local display panel manufacturers. We also shipped over 23 million pieces of large-sized display panels. CPT has been actively adjusting our 2010 product portfolio in hope of creating higher added values and keeping up with market trends. We took full advantage of our 6G production line for 16:9 panels and supplied the 18.5” and 21.5” panels to both FPM and clients after small and medium-sized TVs. CPT is ranked among the top five global suppliers of display products with the two aforementioned specifications in terms of shipment. With respect to NB panels, CPT advanced our industry peers with respect to application of the 0.5mm-thick substrate and has been successful in mass producing 14” wide vision NB panels in our 6G production line. In terms of the transformation and deployment of our niche products, we are in our 6G mass production of 10.x” touch sensor panels. CPT collaborates with several system suppliers and works in line with the direction of our suppliers’ transformation plan that

aims at offering total touch panel solutions.

Strengthening Collaboration with ClientsWith respect to small and medium-sized panels, CPT

plans to flexibly utilize existing capacity to effectively control costs and keep track of price fluctuations. We seek to enhance integration of the upstream and downstream supply chians and improve our R & D capabilities. CPT has been aggressively involved in the development of 2.8” VA to 3.8” HVGA~WVGA (high resolution) smart phone panels. Our strategy is directed at developing high-added value handset products to meet market demands.

Extending Our Goals Beyond

With respect to the module process, CPT actively seeks to form strategic alliances with downstream module manufacturers that are public companies listed on the Chinese Stock Exchange. CPT can then raise funds in China through these module manufacturers. Our optimal goal is to enhance our distribution channels and gain significant market share in the Chinese market.

Chief Strategic Officer- Mr. Brian LeeCPT appointed the “Chief Strategic Officer” in September 2010, who responsible for managing the company’s investments and

formulation of management strategies. In comparison to other high-tech firms, CPT has over four decade of history and experience since our establishment. CPT’s parent company is the long-standing industry veteran, Tatung Group, established over a century ago. Continuation of the corporate culture is a highly transparent process. In contrast, it is a major challenge for an enterprise to constantly adjust its organizational structure and to continue engaging in innovation.

At present, CPT is giving a lot of thoughts to enterprise development issues, and is attempting to source any potential strategic alliance in the Chinese market through our newly established “CPT Technology Group Co., Ltd.” to open up more business opportunities. It is of vital importance to work closely with the Legal Compliance Department to ensure that the company’s strategies may be carried out in conformance with the relevant legal requirements.

Given that the nature of the industry is capital intensive and highly competitive, CPT is required to “do the right things and do things right” with respect to both internal business transformation and external regulatory compliance.

Global Deployment

CPT is a dedicated provider of specialist display units. We seek to offer our clients total service experience and to enhance the competitive strength of our products through global deployment and full systematic integration of upstream and downstream suppliers. Our core customers include prominent global manufacturers of household appliances, leading IT brands and major system processing plants.

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