FORMOSA TAFFETA Business Summary

Formosa Taffeta Co., Ltd. (1434.TW) operates a diversified B2B and B2C business model, deriving the majority of its revenue from the manufacturing and global distribution of technical textiles and industrial materials. Its operations are categorized into three primary segments: the First Business Group, which specializes in the weaving, dyeing, and finishing of functional fabrics for the sports and outdoor sectors; the Cord Fabric Department, a major supplier of nylon and polyester tire cords to the automotive industry; and the Gasoline Department, which manages a retail network of gas stations and car wash facilities in Taiwan. The company also produces carbon fiber and protective textiles for military and medical use. Competing against global peers like Toray Industries, Hyosung TNC, and Far Eastern New Century, Formosa Taffeta occupies a premium market position as a vertically integrated supplier capable of meeting stringent international standards for sustainability and performance. Founded in 1973 by Formosa Chemical & Fiber Corporation and a group of industrialists, the company is a core member of the Formosa Plastics Group (FPG). Leadership is currently spearheaded by Chairman Wen-Yuan (William) Wong, who also serves as the Chairman of FPG, providing high-level strategic alignment across the conglomerate's chemical and textile value chains. President Lee Ming-Chang, an industry veteran with a degree in Textile Engineering from Feng Chia University, has directed operations since 2017, supported by Executive Vice President Lee Chien-Kuan and CFO Cheng Hung-Ning. The company’s governance is characterized by long-tenured leadership and close ties to the Wong family’s industrial legacy. Notable institutional backing includes significant positions held by State Street Global Advisors, Vanguard, and BlackRock, alongside major internal ownership by Formosa Chemical & Fiber Corp.