CHENG LOONG Business Summary

Cheng Loong Corp (CLC) operates as a vertically integrated paper and packaging manufacturer, generating revenue primarily through the production and sale of industrial paper, corrugated packaging, and consumer household products. Its business is structured into three core segments: Industrial Paper (linerboard and corrugating medium), Paper Containers (customized corrugated boxes for electronics and FMCG sectors), and Household Paper (tissue and hygiene products under brands like Andante). CLC leverages a circular economy model, utilizing recycled fibers to drive cost efficiencies and meet global ESG standards. In the regional market, CLC competes directly with Yuen Foong Yu (YFY), Nine Dragons Paper, and Lee & Man Paper. As Taiwan’s largest industrial paper producer, CLC maintains a dominant domestic position while aggressively expanding its manufacturing footprint in Vietnam to capture Southeast Asian supply chain shifts, positioning itself as a high-efficiency, sustainability-focused leader relative to its larger regional peers. The company is led by Chairman Cheng-Ching (C.C.) Cheng, a veteran executive who has spearheaded CLC’s digital transformation and "Smart & Green" manufacturing initiatives. Working alongside him is President Tsai-Yi (T.Y.) Chao, who oversees global operations and the strategic expansion of the company’s Vietnamese production hubs. The leadership team is rooted in the founding Cheng family’s legacy, maintaining a steady growth trajectory focused on long-term capital appreciation and operational excellence. The board and shareholder base include significant institutional holdings from major Taiwanese financial groups and international ESG-focused funds, reflecting the company's strong credit profile. This leadership structure combines deep industry expertise with a commitment to modernizing traditional manufacturing through AI-driven logistics and renewable energy integration.