CHUNG-HSIN ELECTRIC & MACHINERY MF Business Summary

Chung-Hsin Electric & Machinery Mfg. Corp. (CHEM) operates a diversified industrial business model primarily centered on the manufacturing and distribution of high-voltage electrical equipment, with its Gas Insulated Switchgear (GIS) products serving as the primary revenue driver. The company generates income through three core segments: Electricity Power, which capitalizes on Taiwan Power Company’s long-term grid resilience initiatives; Service and Engineering, encompassing large-scale infrastructure projects and the "iParking" management brand; and Green Energy, focusing on hydrogen fuel cells, microgrids, and solar EPC. CHEM utilizes a high-density transaction model combining capital-intensive hardware sales with recurring service fees from its extensive parking and EV charging networks. Its primary direct competitors include Fortune Electric, Shihlin Electric, and TECO Electric & Machinery. Within this peer group, CHEM maintains a dominant market position as Taiwan’s leading GIS provider and a first-mover in the commercialization of hydrogen-based power modules for public transportation and stationary power. The company is currently led by Chairman Fu-Nian (Eric) Chiang and President/CEO Hui-Chuan (Ellen) Kuo, both of whom possess extensive tenures within the firm and have overseen its strategic transition toward decarbonization technologies. Kuo, who has served in leadership roles at CHEM for over 14 years, brings deep operational expertise in the firm's core power and service segments. Under this leadership, CHEM has significantly expanded its manufacturing capacity—growing from two to nine plants by 2025—to meet surging demand for domestic energy infrastructure. The executive team is supported by a seasoned board with deep expertise in electrical engineering and industrial management, including notable directors such as Wei-Chuan Chang and Ming-Xian Weng. Founded in 1956, the company has evolved from a traditional machinery manufacturer into a technology-driven conglomerate with significant institutional backing from major global and domestic investors, including BlackRock, The Vanguard Group, and Yuanta Securities Investment Trust. This stable leadership and shareholder base provide the capital and strategic continuity necessary to execute on a multi-billion dollar order backlog extending through 2030.