Primax Electronics Ltd. (TWSE: 4915) held its Annual General Meeting (AGM) today under the Chairmanship of Jia-Bin Duh. The AGM acknowledged Primax’s 2023 business report and financial statement, approved the profit distribution plan for the same year, and successfully completed the board of directors' elections. To attract and retain top talent, the AGM approved the issuance of restricted stock awards (RSA) for employees. RSAs could align with the long-term interests of the company, employees and shareholders and further create value for stakeholders.

Primax’s consolidated revenue in 2023 was NT$60.49 billion, a 24% decrease from NT$79.24 billion in 2022. Thanks to better product mix, both gross profit and operating profit set the company record high, reaching 15.8% and 4.5% respectively, and up 2 ppt and 0.3 ppt compared with the previous year. Net income attributable to owners of parent in 2023 was NT$2.49 billion with an EPS of NT$5.50, setting the second highest in the company's history. Committed to high dividend policy, the AGM resolved to distribute a cash dividend of NT$4 per share, translating to a 73% dividend payout ratio. Both cash dividend and dividend payout set the record high of the company.

This year marks Primax's 40th anniversary. Primax has actively improved its operational performance in recent years, continuously optimizing its product mix and expanding into high value-added products. Primax’s 3 senses in one (visual, audio, interface) integration capability remains its core competency, and the company will continue to cultivate new products and technologies to strengthen its competitive edge. Furthermore, Primax will benefit from the rise of GenAI, focusing on edge computing and AIoT products, including automotive, public safety applications and AIoT (B2B) visual solutions. Through its system integration capabilities, Primax is able to offer cutting-edge solutions to its customers.

Primax continues to commit to sustainable development. This year, the company was honored to be included in the S&P Global Sustainability Yearbook 2024 for the first time and received the "Industry Mover" recognition. It also achieved an "A" rating from the global environmental non-profit CDP for its transparency and climate change efforts and received an MSCI ESG rating of A, demonstrating its commitment to robust corporate governance and sustainability efforts.

The AGM concluded with the election of nine board members, including five independent directors, ensuring a diverse and skilled leadership team. The elected directors include Jia-Bin Duh, Chairman and CEO of Primax; Yung-Tai Pan, Vice Chairman and General Manager of Primax; Yung-Chung Pan, Chairman of Tymphany Acoustic Technology Ltd.; and Ji-Ren Lee, Representative of Green Land Investment Limited. The independent directors are Shiou-Chuan Huang, Fei-Pei Lai, Chun-Pang Wu, Hui-Fan Ma, and Jia-Chyi Wang.