FAR EASTERN NEW CENTURY Business Summary

Far Eastern New Century Corp (FENC) operates a vertically integrated industrial model that spans the entire polyester value chain, generating revenue through the manufacturing and sale of petrochemicals, polyester materials, and finished textiles. The company’s primary business segments include the Petrochemical division (producing Purified Terephthalic Acid), the Polyester division (chips, PET bottles, and recycled rPET), and the Textile division (yarns, functional fabrics, and apparel). Beyond its core manufacturing, FENC derives significant diversified income from telecommunications services via its subsidiary Far EasTone, as well as real estate development and strategic investments in the Far Eastern Group. FENC maintains a dominant market position as a top-three global PET producer and a leader in sustainable circular economy solutions, competing directly with major international players such as Indorama Ventures, Alpek, and Nan Ya Plastics. Leadership is currently headed by Chairman Douglas Tong Hsu, the son of the company's founder, who has overseen FENC’s evolution from a regional textile firm into a global conglomerate. The executive team includes Vice Chairmen Johnny Shih and Jeff Hsu, alongside President of Corporate Management Humphrey Cheng and CFO David Wang. Recent leadership transitions as of late 2025 and early 2026 have seen Fan Qinzhi appointed as President of the Polyester Industry and Li Yuanzhen as President of the Textile Industry, while Cai Minxiong serves as the Chief Executive Officer of Corporate Management. Founded in 1949 by Yu-Ziang Hsu, the company remains the flagship entity of the Far Eastern Group, supported by a board with deep pedigree in Taiwan’s industrial and financial sectors and a shareholder base that includes major institutional investors attracted to its high-standard ESG governance and integrated supply chain resilience.