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Letter To The Shareholders
To all shareholders ,
2021 Business Report
The COVID-19 pandemic continued to affect the global economy and environment in 2021. Faced with the uncertain development of the epidemic, the company faced challenges in operation management, production and shipping, and supply chain scheduling. Still, based on good and efficient operations, E Ink saw significant growth during 2021. Consolidated revenues of NT$19.65 billion was reported by E Ink in 2021, a 9-year high. Operating margin of 15.4%, net profit margin of 26.2%, net income after tax of NT$5.15 billion and earnings per share (EPS) of NT$4.53 also reached a ten-year high.
2022 Business Focus
The COVID-19 pandemic will continue to challenge economic and environmental development to a certain extent in 2022. As E Ink prepares to enter its 30th year of operation, innovations in color e-paper technology and the creation of low-carbon green products will continue to drive the company’s continuous growth and sustainable development with the strategy of “Profitability + Sustainability”; increase investment in e-paper material technology and build e-paper material supply chain; expansion of e-paper ecosystem and e-paper alliance; expand supply chain participation to build and stabilize e-paper production capacity; profitability will be enhanced through improvement of business performance, strengthening of R&D capabilities, and optimization of business model. Sustainability practices will also be carried out to strengthen business sustainability.
Based on the existing eReaders, eNotes, retail and IoT applications, the company will actively work with partners to expand the e-paper ecosystem and invent more diversified applications of e-paper products. Solid product R&D capacity will help meet the market demand for various applications, from “E Ink on Every Smart Surface” to the goal of “We Make Surfaces Smart & Green.” Significant advances have been made on color, large size and folding eReaders. Meanwhile, paper like products such as eNotes with pen have been launched as well and steady market growth is expected. The release of more color products for retail applications, the completion of the ecosystem, and the help of various subjective and objective factors have also contributed to continuous market growth. Business continues to expand from module sales to e-paper film and material sales as well to meet increasing demand from customers and applications. The IoT business is evolving towards both large and small size. The introduction of color large signage will better meet the needs of healthcare and transportation. Demand from application markets such as small logistics tags and smart factories should generate sustainable growth as well. E Ink’s continued expansion of e-paper applications and markets have fueled company growth. In February 2022, E Ink was included in the MSCI Global Standard Index, affirming our focus and commitment on the development of the e-paper market.
In terms of new technologies, E Ink is continuing to refine its color ePaper technology. Major upgrades were made to the three main color ePaper technologies in 2022 to expand application in the smart field.
Technology development, in addition to continuous improvement of the development of color ePaper, also focus on ePaper technology and materials R&D. Technologies of interest include ePaper film and materials, color, flexibility, and those needed by the ePaper ecosystem. We will focus on four key R&D resources, such as wireless power supply, ePaper timing controller chip, and product reference design. Comprehensive layout of ePaper related patents and speed up commercial licensing and mass production for the end-user market. At the same time, R&D on e-paper module manufacture will be promoted to provide ecosystem partners with better e-paper modules technology reference and support the development of the e-paper industry. We will continue to build on the existing technical advantages of e-paper such as low power consumption and environmental friendliness. Develop technologies related to reduction of layering, less materials and energy saving. Products with even lower carbon footprints will be created on the basis of carbon reduction, energy saving, recycling and innovation in order to contribute to environmental sustainability.
Operation management will concentrate on expansion of production capacity and establishment of material production capability to meet the demands of a growing market. Production will take full advantage of global production and strengthen the introduction of automation. This will not only shorten the production cycle and improve operation efficiency but also enhance product competitiveness and shorten their time-to-market. Procurement logistics will focus on supply chain cooperation and engagement. The flexibility and resilience of the e-paper supply chain will be reinforced in response to a rapidly changing external environment. Business management must pay attention to key topics such as sustainability development, human rights, and job safety. The goal of net zero carbon emissions and renewable energy in response to climate change is also a concern for production, procurement and collaboration with the supply chain.
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