CCW Business Summary

Cathay Chemical Works Inc. (CCW, 1713.TW) is a leading Taiwanese specialty chemical manufacturer primarily engaged in the production and distribution of zinc oxide, sodium hydrosulfite, and sodium formaldehyde sulfoxylate. The company operates through two primary revenue-generating pillars: its core chemical manufacturing segment, which supplies high-purity zinc oxide to the rubber, ceramics, and electronics industries, and a significant asset management segment focused on the development of its extensive real estate holdings in Kaohsiung's Qianzhen District. As of 2026, CCW maintains a dominant domestic position in the zinc oxide market, leveraging its vertically integrated production capabilities to serve both local and international markets in Asia and the Americas. Its primary direct competitors in the Taiwanese chemical sector include Everlight Chemical Industrial Corp. (1711), Shiny Chemical Industrial Co., Ltd. (1773), and Chung Hwa Chemical Industrial Works, Ltd. (1731), with CCW distinguishing itself through its unique combination of industrial chemical expertise and high-value land redevelopment projects. The company was founded in 1962 by the late industrialist and renowned Go (Weiqi) patron Ying Chang-chi, whose family continues to maintain a controlling interest in the enterprise. The current leadership team is headed by Chairman Ying-Jou Er (應柔爾), the founder's daughter, who oversees the group's strategic transition toward high-value asset development, and General Manager Hung Chih-Cheng (洪志成), who manages the operational efficiency of the chemical production facilities. The board is characterized by strong family representation and long-term institutional stability, with major shareholdings held through family-controlled entities such as Chung-Cheng Investment, Heng-Chang Investment, and Li-Tai Investment. This leadership structure ensures a conservative yet steady growth trajectory, balancing traditional manufacturing excellence with the monetization of the company's substantial legacy land assets.