Messages from Chairman

Having cultivated the Taiwanese market for many years, ECOVE Environment Corp. has always held true to our mission to innovate, and to provide optimized""resource cycling""efficiency™ services through advanced technical integrations. Moreover, the Company is always dedicated to developments in the Taiwanese society and to fulfill our promise to become "the most reliable" brand in practice. We launched our ECOVE brand last year in 2017, and everyone is unified and dedicated toward developing this new brand under the brand slogan of "Every Resource Counts." In 2018, we reached nearly NT$4.9 billion in consolidated revenue, and over NT$800 million in profit after tax. We have maintained an earnings per share (EPS) of over NT$10 for 7 consecutive years, on top of achieving positive results in our three major businesses including energy from waste (EfW), solar power, and recycling. We have achieved a business mix with definite long-term development potentials while increasing our competencies while achieving stable growth.

ECOVE's persistence for open transparency and strengthening the functionalities of the Board of Directors has helped us to win the most positive recognition from the Corporate Governance Evaluation from the Financial Supervisory Commission (FSC) for five consecutive years, scoring among top 5% of all companies listed on the Taipei Exchange in terms of governance. While driving toward our collective CSR goal from everyone at ECOVE, the Company has also won various honors in 2018. First of all, the Company has again received a national-level award, the "National Sustainable Development Awards" from the Executive Yuan after receiving the "National Occupational Safety &amp ; Health Award&quot ; and the "National Standardization Award." At the same time, ECOVE has placed among top three in the Corporate Social Responsibility Award from CommonWealth Magazine for three consecutive years, as well as received Top 50 Corporate Sustainability Awards, Corporate Sustainability Report Award, Transparency and Integrity Award, and Circular Economy Leadership Award from the Taiwan Corporate Sustainability Awards (TCSA) for two consecutive years. Furthermore, ECOVE strives to achieve circular economy through our core business. Besides receiving the first BS 8001 Circular Economy verification certificate throughout the world, we have also received the first BS 8001 Circular Economy verification certificate for water resource cycling throughout Taiwan in 2018.
The strength of an enterprise comes from the collective effort of all of its member. Every step of ECOVE's fulfillment of CSR relies on the day-to-day efforts of our staff. Our employees are doubtlessly the greatest assets in ECOVE. Hence, ECOVE strives to build a safe workplace and to care for the mental and physical health of our employees. For instance, ECOVE undertakes blood dioxin inspection and monitoring for staff with elevated risk exposure and chances. In 2018, we have already continued this practice for 14 years. Such extensive, continuous blood dioxin monitoring is the first throughout Taiwan as well as one of the only companies to have done so throughout the world. Since ECOVE actively cares for our employees and provides a healthy and safe working environment, our employees will resonate and embrace our values naturally. It will generate stronger coherence and assist the Company in executing and expanding the impacts and benefits of CSR. Not only will this bring greater competitive advantage to ECOVE, create higher value for shareholders, but the external customers, society, and the environmental sustainability will also reap greater benefits. This is the true essence of CSR.

In 2018, we launched the ECOVE credit card and encourage our staff and their families to apply. Banks will allocate a fixed percentage of rebates toward the CTCI Education Foundation (CTCI EF) from monthly credit spending. The funds will help the CTCI EF to promote environmentally sustainable activities. Besides increasing the pride and recognition from our employees toward the Company's sustainability performance, it also helps to advocate for the development of environmental sustainability education in Taiwan. Internationally, the United Nations has announced the Sustainable Development Goals (SDGs) which see year 2030 as the ultimate target objective. In a nutshell, ECOVE's development strategies include integrating our three major businesses with 17 SDGs, in which we will internally and then externally inspect and evaluate how our core competencies, brand associations, and corporate responsibilities are correlated to 169 indicators and issues including climate change. These efforts will help us to comprehensively plan a sustainability roadmap in the aspiration that we may solve social and environmental problems through business activities. At the same time, we will also pay attention to the environment and care for the society during business operations, thereby initiating a full participation in CSR through linking business with lifelong career goals. We are in the process of preparing for a Sustainable Development Committee, which will shoulder the mission of fulfilling our duties toward the society and the environment, as well as to create sustainable value for the Company.

To realize our sustainability roadmap, ECOVE is also preparing for the new global industry revolution in the technical applications of artificial intelligence (AI) and the Internet of Things (IoT). We believe that we may only come out successful in this revolution and to contribute toward the society by possessing a long-term vision of understanding the future and by executing accurate strategies on such basis.

Year 2018 has been a year of abundance, and looking to 2019, ECOVE will continue to hold true to our visions of "enhancing ""resource cycling"" efficiency™,""utilizing intelligent data-driven operational systems"", ""actively participating in national/rejoin agenda and policy"",and ""community collaboration and contributions."" We will be committed to social welfare, to promoting environmental education, and to enhancing the environmental protection awareness throughout communities, thus creating a synergistic outlook for the industry, environment, as well as the society.