Message from Management

By upholding the business philosophy of integrity and pragmatism, advancement with the times, joint creation of values, and giving back to society,

Tung Mung focuses on producing cold-rolled stainless steel as its main business activity. With the shareholders’ and banks’ support, industry leaders’ and customers’ backing, suppliers’ cooperation, and employees’ concerted efforts, we continue to provide high-quality cold-rolled products and professional services as a long-term trusted partner in the cold rolled stainless steel industry.

For more than 30 years, we have fulfilled our corporate social responsibility and adhered to our mission of giving back to society. Aside from supporting charity organizations, the Company also creates local employment opportunities by hiring workers primarily from the nearby Xuejia area, and has refrained from hiring foreign workers to this day. In the future,Tung Mung will continue directing attention toward maintaining harmonious employment relations and a safe work environment, and actively participate in neighborhood engagement and charity activities to promote Tung Mung’s corporate culture of “caring for the underprivileged and locals.”

We are well aware of how intensively the stainless steel process consumes energy and produces effluents, sludge, and other forms of waste that pose a burden on environment. For this reason, we not only continued enforcement of existing systems such as ISO 14001:2015 Environmental Management System and ISO 45001:2018 Occupational Health and Safety Management System, but also adopted new standards in 2022, including ISO 14064-1:2018 Greenhouse Gas Management Standards for greenhouse gas inventory and ISO 14067:2018 Carbon Footprint Standards. We even completed phase 1 solar power construction and acquired nitrate nitrogen treatment equipment during the year. Through concrete actions such as process improvement, waste reduction, carbon reduction, and recycling, we strive to produce at greater energy efficiency and cut back on power and water consumption while increasing the volume of effluents recycled, purified, treated, and reused, thereby taking progressive steps toward sustainability.

The uprise of trade protectionism and disruptions of COVID-19 in the last three years have brought tension to the world, hastened changes in the commercial environment, and made industry prospects more difficult to predict than ever. Furthermore, disequilibrium in the supply and demand of stainless steel poses additional challenges to our operations. Even so,we continued to deliver strong results in 2021. 2022 has been an extremely challenging year for all industries; aside from the persistent threat of COVID-19, the outbreak of war between Russia and Ukraine caused an energy shortage in Europe, which stimulated inflation on a global scale that had to be met with interest rate hikes from central banks around the world.In the meantime, extreme weather events have brought the world’s attention to the issue of carbon reduction and new forms of risk that have emerged as a result. While the steel industry reported revenue decline and even losses in many parts of the world in 2022, we still managed to deliver satisfactory results. I would like to express my sincere appreciation to our employees who have worked tirelessly, and to their family members as well as our supply chain partners and customers for their persistent encouragement, cooperation , and support. Sustainability is a long and difficult path, but we believe in our mission and strive toward it with confidence. We are also aware that a business is defined not only by its ability to generate profits and values for shareholders, but also by its conviction to professionalism and progress. As we pursue growth, we continue to cater to the “Well-being of Society and the Industry as a Whole”, and take the initiative to respond to stakeholders’ expectations and improve the inclusiveness of society.