Kaofu Business Summary

Kaofu Chemical Corporation (4773.TWO) is a Taiwan-based specialty chemical manufacturer primarily engaged in the production and global sale of General Purpose Polystyrene (GPPS) and High Impact Polystyrene (HIPS) under the proprietary KAOFULEX brand. The company generates revenue through a transaction-based model, supplying resin materials to manufacturers of household appliances, computer peripherals, food packaging, and electronic components. Its operations are segmented by product grade and geographic reach, with key revenue contributions from Taiwan, Mainland China, and Egypt. Kaofu competes in a high-commodity market against larger integrated peers including Formosa Plastics (1301.TW), Formosa Chemicals & Fibre (1326.TW), Taita Chemical (1309.TW), and Grand Pacific Petrochemical (GPPC). As of March 31, 2026, the company’s shares are suspended from the Taipei Exchange’s Emerging Stock Board following the resignation of its recommending securities firms, with a scheduled delisting on April 10, 2026. The company’s executive leadership is currently composed of Chairman Chung Yu-Lin and CEO Wang Siao-Cih, who also serves as the corporate spokesperson. This team oversees a specialized operation that has evolved significantly since its founding in 1968, most notably transitioning from a Japanese-invested venture—previously backed by Idemitsu and Marubeni—to a locally managed entity following a 2007 takeover by Dah Tsaag Corporation. Kaofu’s governance is heavily influenced by its majority shareholder, Dongzheng Investment Consulting Co., Ltd., which holds a 53.9% controlling stake. The current board of directors includes Chung Hsin-Pei and former CEO Tsung-Hsi Li, reflecting a leadership structure deeply integrated with the company’s primary investment and family-led holding groups.