BES ENGINEERING Business Summary

BES Engineering Corp (2515.TW) operates a diversified heavy construction and real estate development model, generating revenue through three primary segments: Construction Engineering, Construction Development, and Industrial Park Development. The company secures high-value contracts for large-scale public infrastructure—including airports, bridges, and metro systems—while simultaneously developing premium residential projects like the landmark "Tao Zhu Yin Yuan" and managing the sale and lease of industrial clusters such as the BES Cloudverse AI Park. As of early 2026, the firm has increasingly pivoted toward smart-city integration and sustainable "green" industrial zones to capture demand from returning high-tech manufacturers. Its primary competitors include CTCI Corporation, Ruentex Development, and Highwealth Construction; BES distinguishes itself as the dominant market leader in Taiwan’s industrial park development, leveraging a legacy of government-commissioned projects to maintain a robust pipeline of civil engineering works. Originally established in 1950 as a state-owned enterprise under the Ministry of Economic Affairs, BES was privatized in 1994 and is now a core subsidiary of the Core Pacific Group, led by Group Chairman Sheen Ching-jing. The current executive leadership is headed by Chairman Chou Chih-Ming, an economics specialist with extensive experience in the group’s industrial operations, and General Manager Su Li-Mei, a veteran professional manager promoted to the role in February 2026 to oversee operational restructuring. Engineering excellence is directed by Yang Mei Yuan, who was appointed General Executive Vice President of Engineering in January 2026. Beyond the controlling interest held by the China Petrochemical Development Corporation (CPDC), the company’s board has recently faced increased scrutiny following a significant 11.8% stake acquisition by Delpha Construction (a subsidiary of Pj Asset Management) in late 2025, signaling a shift in the company's institutional investor landscape.