In 2024, the Company entered a new phase of development. On the production side, a 50-ton electric arc furnace began trial operations. On the product side, the Company continued its strategy of maintaining proprietary brands and enhancing product value. Following the launch of the high-class hot work tool steel "TS-GHX1," two new products were introduced in July 2024: the premium mirror stainless steel "TS-GPX1" and the advanced hot work tool steel "TS-GHA1." These products are designed for use in molds for plastic injection, die casting, and extrusion, offering domestic mold manufacturers a new alternative to imported materials. In terms of market engagement, the Company participated in trade shows to reach more domestic and international clients, and also held technical seminars to better understand market needs and strengthen customer relationships. In addition, the Company has begun integrating resources through strategic investments to accelerate channel development, establishing the foundation for future production capacity expansion. In 2024, both achieved record-high levels of profitability and revenue, with after-tax earnings exceeding NT$2 billion for the third consecutive year. Looking ahead, the Company maintaining a prudent approach and to earnestly planning and implementing strategies for its continued development.
The Era of Carbon Pricing
The era of carbon pricing has officially arrived. In 2025, Taiwan began collecting domestic carbon fees, and in 2026, the EU Carbon Border Adjustment Mechanism (CBAM) will also come into full effect. For enterprises, improving production efficiency, reducing greenhouse gas emission intensity, and expanding green energy deployment have become urgent priorities. In 2024, the Company continued to upgrade and replace outdated equipment with energy-efficient alternatives and initiated plans to construct wastewater recycling and reuse facilities. Fuel oil has been fully phased out and replaced with cleaner natural gas. Rooftop solar power systems have been expanded in line with facility growth, and the Company has also made initial purchases of green electricity to increase the share of renewable energy used. These efforts in energy conservation and carbon reduction were recognized with the Excellence Award at the 3rd Net Zero Industry Competitiveness Excellence Award from 21st Century Foundation.
Diversity and Inclusion for Shared Prosperity
Continuing the Taiwan Steel Group's beliefs of "gratitude, health, and hope", the Company remains committed to social welfare by actively engaging with surrounding communities, supporting under privileged groups, and promoting local development in its areas of operation. In collaboration with government agencies, the Company has organized health care initiatives, promoted traffic safety awareness among contractors, and donated medical resources to under served rural areas. Through corporate initiatives, the Company also promotes a strong sports culture, supporting community sports groups and sponsoring professional athletic events. This inside-out approach not only fosters a healthy workplace environment but also encourages employees to develop regular exercise habits and contributes to the promotion of sports nation wide. In 2024, the Company's operational sites at Xinying Plant, Liuying Plant, and the Operations Headquarters were recognized by the Ministry of Health and Welfare's Health Promotion Administration with the Badge of Accredited Healthy Workplace. Furthermore, the Company was honored with the Gold Award in the Sponsorship Category of the Sports Promoter Awards presented by the Sports Administration,Ministry of Education.
Technological Innovation, Embracing a New Chapter
- Hardware Aspect
In 2024, the 50-ton electric arc furnace successfully commenced trial production of molten steel. To support the increased steel output, the Company has launched the renovation and upgrade of the cogging mill and begun construction of a new hydraulic forging machine. The continuous casting machine project is also underway. These process and equipment upgrades are expected to not only expand product output channels but also reduce production costs—significantly enhancing the competitiveness of GMTC and laying a solid foundation for the next 30 years of growth.
- Software Aspect
In 2024, the Company ranked in the top 5% in the 11th Corporate Governance Evaluation and obtained the A-level certification for Taiwan Intellectual Property Management System (TIPS). By fostering a strong intellectual property awareness across the organization, the Company encourages employee innovation and research & development. Accelerated collaboration among industry, academia, and research institutes has further driven R&D progress, strengthening GMTC's proprietary brand and positioning GMTC as a reliable and valued partner in Taiwan's metal industry., opening a new chapter for Taiwan's steel materials industry.
Looking ahead, we are confident and determined that through the collective efforts of all our colleagues, we will seek progress while maintaining stability. We aim to foster diverse development for each individual, so that together we will continue with prudent planning while striving for steady progress toward a brighter and more sustainable future.
