CORPORATE RESPONSIBILITY
To avoid financial and non-financial losses and other risks and enhance stakeholders' longterm trust in the Company, we uphold "integrity, legitimacy and transparency" at the core of our business practices. In addition to complying with laws, the Company also requires all its employees to uphold integrity, credibility and discipline in all commercial activities, and make full and transparent disclosures to the public in ways that facilitate future business growth.
The board of directors of Primax Electronics has long adopted high standards of corporate governance, even higher than what some laws require, as the foundation of its operations. This high level of corporate governance ensures the efficiency of board functions, protects shareholders' interests, and provides the critical foundation to the Company's sustainability.
Composition of the Board of Directors
The company places great importance on promoting board diversity and has set specific phased goals for achieving a diverse board composition. During the director selection process, the Nomination Committee considers candidates from different age groups and encourages a gradual generational transition to ensure a diverse and inclusive representation on the board.
Operations of Corporate Governance
Board of Directors' Remuneration
A Compensation Committee has been created directly under the board of directors in accordance with "Primax Electronics Compensation Committee Charter" to review remuneration policies, systems, standards, and structures, and to approve and evaluate performance targets for all directors, executives, and managers. All of the committee members are independent directors.
Training of Directors
To improve performance of board members, training courses are arranged regularly by the Company in accordance with "Primax Electronics Corporate Governance Principles", “Directions for the Implementation of Continuing Education for Directors and Supervisors of TWSE Listed and TPEx Listed Companies”, and other relevant regulations on the latest domestic and overseas developments in economic, environmental and social governance.
Performance evaluation of the Board of Directors and Functional Committees
For sound corporate governance and improvement of board functionality, Primax Electronics has implemented a board performance evaluation policy since November 10 , 2016 and disclosed it on the corporate website and MOPS. According to the policy, the Company is required to conduct internal board performance evaluation at least once a year, and engage an independent institution or expert team from outside the organization to conduct external board performance evaluation at least once every three ( 3 ) years.
Ethical Management
Primax Electronics has implemented a set of "Business Integrity Procedures and Behavioral Guidelines" that emphasizes integrity in business dealings. Employees are prohibited from accepting in appropriate gains or engaging in improper competition, and are required to enforce information transparency, respect intellectual property rights, protect the privacy of every business partner, and act responsibly when procuring supplies. The Company protects informants and has many different communication channels in place that allow stakeholders such as : employees、suppliers and customer to voice out freely without fear of retaliation.
Technology and Manufacturing Development
The company's focus on technology development lies in the integration of acoustics, visuals, and human-machine interfaces, known as "three-sensesin-one" product applications. In an era of constant technological advancements, Primax Electronics strives to develop key new technologies and products that sustain profitability and extend its business into every individual's living environment.
Innovation and Service
In 2022, the company invested
A total of
3,336
million NTD
Accounting for
4,25
% of its operating income
Intellectual Property Rights Management
In order to align with advanced technology tendency and protect technical achievement, we continuously engross sufficient resources in R&D and analysis for the variation of marketing and technology in relation to our products. We also formulate intellectual property policy which integrates the operation goal and R&D resources so as to reinforce the advantage in competition.
Strategy
Management of Patent
For the purpose of protection of technical achievement and leading position, we not only constantly encourage our staff to file application for utility patent via the corporate innovation award, but also establish the patent management policy and risk control mechanism. In addition, the quantity and quality for patent application has been managed by means of AI analysis through the entertainment patent system. We contact and cooperate with the patent competent authority closely to raise efficiency of patent examination and acquire the high-level patent protection.
Management of Copyright
We promulgated Regulation of Copyright to formulate the process of acquirement, preservation and maintenance of copyright.
Protection of Trade Secrets
Trade secret and confidential information are the technological and business operation core of the Company. The regulations with regard to trade secret and confidential information have been stipulated in Regulation and Procedure of confidential documents, Employee Handbook and Employee Contract. We also provide our staff with the training courses to disseminate the importance and protection measures of trade secret and confidential information.
Intellectual Property Rights Management
As of the end of 2022,
A total of
844
patents were approved
Won invention awards
1,247
people
