1.Date of the shareholders meeting:2022/05/31
2.Important resolutions (1)Profit distribution/ deficit
  compensation:Acknowledgment of the 2021 Earnings Distribution
To distribute cash dividends to shareholders NT$1.8 per common share
3.Important resolutions (2)Amendments to the corporate charter:Approved.
4.Important resolutions (3)Business report and financial statements:
Acknowledgment of the 2021 Business Report and Financial Statements
5.Important resolutions (4)Elections for board of directors and
  supervisors:
To elect members of the 23th Board of Directors.
6.Important resolutions (5)Any other proposals:
(1)To approve the amendment to the Company's ”Rules of Procedure for@
   Shareholders Meetings”
(2)To approve the amendment to the Company's ”Procedures for Asset
   Acquisition & Disposal”
7.Any other matters that need to be specified:None

Greetings to all of our valued shareholders, 

The semiconductor industry is the cornerstone of Taiwan's economy. According to statistics from the Industrial Technology Research Institute, Taiwan's semiconductor output value is estimated to reach NT$3.8 trillion in 2021, setting a new milestone. With TSMC spearheading the expansion, many companies in the semiconductor industry chain have also increased their investment in key science park locations in Hsinchu, central Taiwan, Tainan, Luzhu, etc. Besides, the scale of public construction by the government this year has reached the second highest in history, and the number of units of houses traded and new projects have also hit record highs last year, creating more business opportunities for the construction industry.

 Goldsun Building Materials made huge investments more than 10 years ago in Taiwan to establish the Technology Control and Services Center which has borne fruit in technology capability to control 28 concrete plants, the most in the industry. Each region now has 3 to 5 concrete plants to conduct collaborative operations and large-scale pouring of concrete, which has improved the benefits of distribution channels in regions and competitive advantages. The approach has helped the company secure numerous orders of concrete for plants of the technology industry and projects of benchmark buildings. This year, Goldsun Group will add the Rende Plant in Tainan, and it is expected that the addition of the new plant will continue to strengthen the economies of scale and competitive advantages. 

Not only that, since the establishment of Goldsun Group's research and development center more than 20 years ago, the Group has continued to advance its product innovation process. In 2015, it launched the “Goldsun Peace-of-Mind Building Materials Traceability”, and more than 2,100 new buildings have adopted the practice, contributing to the safety of building structures throughout Taiwan. This year, the Group aligns itself with the advanced technology and the vision of environment protection around the world to develop the in-house carbon neutrality and carbon storage technology for concrete, which make the concrete stronger and achieves the eco-friendly effectiveness of energy conservation and carbon reduction in buildings. In the near future, Goldsun Group will help the companies in the semiconductor supply chain in Taiwan quickly build their plants, which will contribute to Taiwan's semiconductor and buildings construction industries and support the Group's vision in its sustainability and profitability.

Business and Financial Performance 

The consolidated revenue of Goldsun Building Materials Co., Ltd. in 2021 was NT$21,801,699 thousand, which was an increase of NT$2,923,899 thousand, or 15.49% (please refer to the table below), over NT$18,877,800 thousand in 2020. The 2021 net income was NT$2,933,244 thousand and the earnings per share was NT$2,42. The composition of consolidated revenue is as follows:

Technological Development 

Goldsun's research and development center has been established for more than 20 years. Each year, a considerable amount of funds is committed to R&D engineering. The results have accumulated to become the Company's competitive products in recent years. They create huge business opportunities and change Taiwan's skyline with beautiful buildings.  In recent years, Goldsun has provided high-end mass concrete, raw concrete, high-strength concrete, high-flow concrete and burnished concrete to benchmark projects which highlight the architectural beauty of Taiwan, and the projects include the Kaohsiung Music Center which has hosted year-end countdown events broadcasted on many TV channels in recent years, Taiwan's first heavy-particle cancer medical center, Taipei Nan Shan Plaza, National Taichung Theater, Tao Zhu Yin Yuan, etc. These benchmark buildings all have used Goldsun's innovative methods and high-end concrete products. 

In terms of product R&D, Goldsun will continue to play the leadership role in technology and market, setting the trends in the aesthetics and environmental protection of buildings in Taiwan and meeting the performance and application requirements of products. For 2022, the progress of research and development of products will include, (1). Mass production of high-end concrete: Ultra-high performance concrete (UHPC), high-performance concrete, self-compacting concrete, high-flow concrete, impermeable concrete, permeable concrete and mass concrete. (2) Incorporate the role and application concepts of circular economy, and continue to promote follow-up research on minerals and chemical admixtures. (3) Consolidate the Group's resources to establish a laboratory for certifying raw materials; (4) In order to reduce the dependence on natural resources and minimize the energy consumption and the manufacturing and use of polluting cement clinker, we actively research and develop industrial by-products and the re-use of alternative products for our ready-mix concrete and building materials for our affiliate companies, hoping that we can fully showcase the positive performance by-products and reduce the negative impact on the environment. 

In order to take into account corporate social responsibility and product competitiveness, Goldsun will continue to challenge itself and provide customers with the development of more advanced products, including: Incorporating carbon footprint assessment into various products, building carbon footprint traceability information and database, and the joint development of practical use and mass production of products with concrete carbon storage technology.

Future Development (Impact from Competitive Environment, Regulatory Environment and Overall Operating Environment) 

Looking forward to the impact from the overall business environment: According to the Department of Statistics of the Ministry of Economic Affairs, the total volume of ready-mix concrete sold in Taiwan in 2020 and 2021 were 43,344 and 43,729 (year-over-year growth of 0.89%) thousand cubic meters, respectively. For Goldsun, the total volume of ready-mix concrete sold in 2021 was 6.56 million, a year-over-year decrease of 3.4% compared with 6.35 million cubic meters of 2020. For 2022, it is expected that the major economies in the world will continue to rebound, and with the continuing improvement of the domestic housing market, the sales volume of ready-mix-concrete will experience a small growth. In order to expand the above-mentioned business opportunities for growth, Goldsun Group will actively add new plants, facilitate collaboration based on technology, and make good use of the advantages in large-scale pouring projects to improves the profitability based on “selecting the best for shipment”, so the Group's profitability will continue to climb.

 As for the impact from the external competitive environment: Looking forward to the global economy in 2022, major international forecasting agencies believe that with the increase in vaccine coverage, the lifting of lockdown policy and the practices of coexistence with the virus in various regions, the global economy will recover significantly. However, uncertainties brought by inflation and policies, reduction in fiscal support and supply chain bottlenecks may slow the growth in economy. The housing market policy restrains speculation and enables personal use of real properties to return to the mainstream of the market.  Moreover, the implementation of strategies to improve dangerous buildings and social housing is ongoing, and there are many positive factors supporting the development of the housing market.  In addition, factors such as easing the monetary policy, low interest environment, soaring prices of raw materials, repatriation of Taiwanese businesses to drive the demand for industrial land, and continuous expansion of commercial real estate have stimulated the growth of the housing market.  According to the latest information released by the Department of Statistics of the Ministry of the Interior, about 348,000 units of houses exchanged hand in 2021, a year-over-year growth of 6.6%, which was an uptrend for the 5th consecutive years and a new high in the past eight years, continuing the “buy” sentiment in the housing market. 

Besides, the continuous promotion of railway construction by the central and local governments has reached NT$544.8 billion for the year, the second highest in the annual public construction expenditure. The completion of public construction and traffic network projects continues to drive the growth of nearby regions. For example, the re-zoning areas in Taoyuan, the 14th phase of re-zoning projects in Taichung, science park and software park in central Taiwan, and new industry clusters in Tainan and Kaohsiung due to the expansion of TSMC create tech corridors to inject more vitality to the surrounding housing markets through industry investment and urban renewal.

Operation and challenges 

With the abovementioned challenges of external factors and market opportunities shown, Goldsun Building Materials will continue to highlight the positive and negative factors in its future development strategies, and actively and flexibly respond to the long-term business development, and apply its 68 years of accumulated skills and experience to different market segments to expand its concrete plants which it has the most in the industry. For example, the ongoing construction of plant in Rende, Tainan in 2022, and the collaborative operations and large-scale pouring projects of 3 to 5 concrete plants in each region continue to reinforce the regional competitive advantages in distribution channels. As for the regulatory environment, the Company is ready to take appropriate measures to comply with the regulations at any time, and accordingly revise the internal standards and relevant regulations.

 At the same time, Goldsun Building Materials has made great strides towards becoming a group offering a comprehensive selection of building materials, continuing to develop a diverse lineup of niche building materials. The high-end concrete products are supplied in a stable manner to special structures of various construction projects.  The Company will be able to grasp the opportunities of medical specialty buildings, offshore wind power civil engineering projects, public projects, plants and offices of technology firms, condominiums and skyscrapers, becoming the first choice of clients in the construction and technology industries. The newly added aerated lightweight concrete (ALC) plant has been put into operation in 2021. The products have passed the highest standards of earthquake resistance, sound insulation and fire protection tests, and have now become a hot-selling high-end building materials product in the market. In terms of the asset revitalization effort, the board has approved an investment budget for the Nangang Large-scale Development Project to accelerate the all-round progress of the large-scale development project.  The huge assets owned by the Group can be aligned with the overall economic situation and regional development trends to create maximum and sustainable operating profit.

We give you our best regards for the upcoming future!

                                                                                                                      Chairman Lan-Ying Hsu