TONG YANG INDUSTRY Business Summary

Tong Yang Industry Co., Ltd. (1319.TW) is a premier global manufacturer of automotive components, primarily generating revenue through the production and distribution of plastic and sheet metal body parts. Its business model is bifurcated into two core segments: the Aftermarket (AM) division, which accounts for the majority of its earnings by supplying certified replacement parts—such as bumpers, grilles, and fenders—to the global collision repair industry, and the Original Equipment (OE) division, which serves major automotive manufacturers in China and Taiwan. Tong Yang holds a dominant market position as the world's largest supplier of AM plastic body parts, utilizing massive production scale and CAPA-certified quality to maintain high market share in North America and Europe. Key direct competitors include TYC Brother Industrial Co., Ltd., Depo Auto Parts Industrial Co., Ltd., and Gordon Auto Body Parts Co., Ltd. While competitors like Depo and TYC are leaders in automotive lighting, Tong Yang distinguishes itself through its vertically integrated production of exterior trim and cooling systems, positioning it as a critical high-volume partner for global distributors. Founded in 1952 by Wu Kao, the company is currently led by the second and third generations of the founding Wu family. As of February 2026, the leadership team is anchored by Chairman Yeong-Maw (Michael) Wu, who oversees long-term strategic planning, and CEO Yung-Hsiang (Crispin) Wu, who directs global operations and the company’s expansion into electric vehicle (EV) components, including lightweighting materials and Active Grille Shutter (AGS) systems. Former Chairman Yung-Feng (Raymond) Wu serves as Honorary Chairman, ensuring institutional stability. The executive team is characterized by extensive expertise in polymer injection molding and automated manufacturing processes. Notable institutional shareholders include Yuanta Securities Investment Trust, The Vanguard Group, and Norges Bank, underscoring the company’s reputation as a blue-chip industrial staple on the Taiwan Stock Exchange with a strong emphasis on high-dividend yields and operational resilience.