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China Motor Corporation 2018 Annual Report (Translation)

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China Motor Corporation 2018 Annual Report (Translation) Stock Code：2204 China Motor Corporation 2018 Annual Report (Translation) Printed on March 31, 2019 Notice to Readers The Annual Report have been translated into English from the original Chinese version. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese version shall prevail. I. Information regarding Spokesperson, Deputy Spokesperson Spokesperson: Ching-Wu Chien Title: Vice President Deputy Spokesperson: Ling-Jun Lin Title: General Manager, Corporate Planning Division, China Motor Corporation Tel: 886-3-4783191 Email: [email protected] II. Contact Information of Headquarter, Branch Company and Plant Headquarter Address: 11F., No.2, Sec. 2, Dunhua S. Rd., Da’an Dist., Taipei City 106, Taiwan Tel: 886-2-23250000 China Motor Training Center Address: No.3, Qingnian Rd., Yangmei Dist., Taoyuan City 326, Taiwan Tel: 886-3-4641100 Yang Mei Plant Address: No.618, Xiucai Rd., Yangmei Dist.,Taoyuan City 326, Taiwan Tel: 886-3-4783191 Hsin Chu Plant Address: No.2, Guangfu Rd., Hukou Township, Hsinchu County 303, Taiwan Tel: 886-3-5985841 III. Common Share Transfer Agent and Registrar Company: China Motor Corporation Address: 7F., No.150, Sec. 2, Nanjing E. Rd., Zhongshan Dist., Taipei City 104, Taiwan Tel: 886-2-25156421 Website: http:// www.china-motor.com.tw IV. Information regarding 2018 Auditors Company: Deloitte & Touche Auditors: Eddie Shao, Ya-Ling Wong Address: 20F, Taipei Nan Shan Plaza, No. 100, Songren Rd., Xinyi Dist., Taipei 11073,Taiwan Tel: 886-2-27259988 Website: http://www.deloitte.com.tw V. Information regarding Depositary: N.A. VI. Corporation Website: http:// www.china-motor.com.tw Table of Contents [Letter to Shareholders]────────────────────────── 4 [Company Profile]──────────────────────────── 6 I. Founding Date ···························································································· 6 II. Company History ························································································ 6 III. Business Results ························································································ 7 IV. Charity ··································································································· 8 [Corporate Governance]────────────────────────── 13 I. Organization ······························································································ 13 II. Directors and Management Team ····································································· 14 (I) Information Regarding Board of Directors ································································ 14 (II) Directors' Professional Qualifications and Independent Analysis ····································· 27 (III) Information Regarding President, Executive Vice President, Vice President, and General Manager of Each Department ························································································ 28 (IV) Remuneration Paid to Board of Directors, Supervisors, President, and Executive Vice President in the Latest Year ··························································································· 34 (V) Employment Compension Granted to Management Team ············································· 38 III. Implementation of Corporate Governance ·························································· 39 (I) Board of Directors Meeting Status ········································································· 39 (II) Attendance of Supervisors for Board Meetings ························································· 40 (III) Audit Committee Meeting Status ········································································· 40 (IV) Corporate Governance Execution Status and Deviations from “Corporate Governance Best-Practice Principles for TWSE/GTSM Listed Companies” ······································ 44 (V) Composition, Responsibilities and Operations of Compensation Committee ······················· 51 (VI) Social Responsibility ······················································································· 53 (VII) Taiwan Corporate Conduct and Ethics Implementation as Required by the Taiwan Financial Supervisory Commission ····································································· 61 (VIII) Corporate Governance Guidelines and Regulations ················································· 64 (IX) Other Important Information Regarding Corporate Governance ···································· 64 (X) Internal Control System Execution Status ······························································· 65 (XI) Punishment and Improvement Status of Violation Internal Control System during the 2018 Calendar Year and up to March 31, 2019 ······························································· 66 (XII) Major Resolutions at Shareholders Meetings and Board of Directors Meetings during the 2018 Calendar Year and up to March 31, 2019 ······························································· 66 (XIII) Major Issues of Record or Written Statements Made by Any Director or Supervisor Dissenting to Important Resolutions Passed by the Board of Directors during the 2018 Calendar Year and up to March 31, 2019 ···························································································· 68 (XIV) Resignation or Dismissal of Chairperson, President, and General Manager of Accounting, Finance, Internal Audit and R&D during the 2018 Calendar Year and up to March 31, 2019 ·· 68 IV. Information Regarding Audit Fees ··································································· 68 V. Information Regarding Replacement or Rotation of Accountants ································ 69 VI. Chairperson, Prisident and General Manager of Financial Affairs or Accounting Working in CMC’s Independent Audit Firm or its affiliates during 2018 ································· 70 VII. Changes in Shareholding of Directors, Managers and Major Shareholders ··················· 71 VIII. Information Disclosing the Relationship between any of the Top 10 Shareholders ········· 72 IX. Long-Term Investment Ownership ·································································· 73 1 Table of Contents [Capital Overview]──────────────────────────── 74 I. Capital and Shares ····························································································································· 74 (I) Sources of Capital ···························································································· 74 (II) Type of Stock ································································································· 74 (III) Status of Shareholders ····················································································· 74 (IV) Shareholding Distribution Status ········································································· 75 (V) List of Major Shareholders ················································································· 75 (VI) Market Price, Net Worth, Earnings, and Dividends per Share ······································· 76 (VII) Corporate Dividend Policy and Implementation Status ·············································· 76 (VIII) The Impact of Stock Dividend Issuance on Business Performance and EPS ···················· 77 (IX) Employee Compension and Directors' Remuneration ················································· 77 (X) Buyback of Treasury Stock ················································································· 79 II. Issurance of Corporate Bonds ········································································· 79 III. Issurance of Preferred Stock ·········································································· 79 IV. Issuance of Depository Receipts ······································································ 79 V. Status of Employee Stock Option Plan and Employee Restricted Stock ························· 79 VI. Status of New Share Issuance in Connection with Mergers and Acquisitions ················· 79 VII. Financing Plans and Implementation ······························································· 79 [Operational Highlights]────────────────────────────80 I. Business Activities ······················································································· 80 (I) Business Scope ································································································ 80 (II) Industry Overview ··························································································· 83 (III)Technology and R&D Overview ·········································································· 84 (IV) Long- and Short-term Business Development Plan ···················································· 85 II. Market, Production, and Sales Overview ···························································· 85 (I) Market Analysis ······························································································· 85 (II) Main Uses and Production Processes of Major Products ·············································· 89 (III) Supply Status of Main Materials ········································································· 90 (IV) Major Suppliers and Clients Taking over 10% of the Amount of Incoming (Sales) over the Last Two Years ···································································································· 90 (V) Production over the Last Two Years ······································································
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