CHANG WAH TECHNOLOGY Business Summary

Chang Wah Technology Ltd (CWTC) operates as a premier global manufacturer of semiconductor packaging materials, primarily generating revenue through the high-volume production and sale of integrated circuit (IC) lead frames and molding compounds. The company specializes in high-density packaging solutions, with its business segments categorized by product architecture: IC-leaded frames, IC-leadless frames (specifically Quad Flat No-Lead or QFN), and LED lead frames, supplemented by advanced surface treatment services such as roughening and oxide plating. CWTC has aggressively pursued a "QFN Reinvention" strategy to capture the transition from traditional packaging to high-performance, heat-dissipating formats required for 5G, automotive electronics, and AI infrastructure. As of 2026, the company maintains a top-three global market position with a consolidated revenue of approximately NT$13.43 billion, competing directly against Japanese giants Mitsui High-tec and Shinko Electric Industries, as well as Taiwan-based SDI Corporation. CWTC distinguishes itself through a vertically integrated manufacturing model and a dominant 30% target market share in the high-growth QFN segment. The leadership team is anchored by visionary founder Canon Huang (Huang Chia-Neng), who serves as Chairman of the parent company, Chang Wah Electromaterials, and brings over 30 years of specialized expertise in metal lead frame technology. As of March 24, 2026, the executive management is led by Hong Quan-Cheng (Quancheng Hong), who serves as both Chairman and General Manager; notably, Hong is transitioning to focus exclusively on the General Manager (CEO) role effective March 25, 2026, to enhance corporate governance. The executive bench is characterized by deep industry pedigree, with an average management tenure exceeding 10 years. The company's strategic direction is heavily influenced by its parent entity, Chang Wah Electromaterials Inc., which holds a 49.22% controlling stake. Other significant institutional backers include global asset managers such as The Vanguard Group, BlackRock, and Norges Bank, reflecting a robust investor base that supports CWTC’s capital-intensive capacity expansions in Taiwan, China, and Malaysia.