Overseas CEO / Ted Cheng

ted@meanwell.com

Looking back on 2022, thanks to the collective efforts of all employees, the company achieved outstanding results with a consolidated annual revenue of NT$44.53 billion, representing a growth of 18.7% compared to the previous year. In terms of brand expansion, according to the March 2023 report by Micro Technology Consultant, MEAN WELL has climbed one rank in the global power supply manufacturer rankings at 3rd place. Furthermore, MEAN WELL improved its position in the "Taiwan Top 2000" list, ranked by CommonWealth Magazine, rising from 115th in 2021 to 101st in 2022.

Facing challenges such as a downturn in the economy in 2023, the ongoing Russia-Ukraine war, inflation, and a crisis in the financial industry, the group continues to invest globally to strengthen its resilience. Through expanding partnerships within the SDG industry value network, the group aims to explore new dimensions of service. The group's major functions collaborate with partners to drive the following initiatives:

• Strengthening corporate governance, MWTW has followed the regulations for a public listing, and other subsidiary companies are gradually implementing "quasi-public governance" to enhance independence.
• Promoting global standardization of power supply and the SDG industry value network, leveraging MEAN WELL's distribution network to provide comprehensive one-stop shopping services for standard power supplies and peripheral components.
• Lead times will return to 30 days as component shortages improve. Each region will enhance project support to ensure the smooth implementation of important customer projects. The Market Development Fund will support companies, distributors, and key customers through industry development funds, enhancing brand influence and contributing to local public welfare.
• Maintaining the policies of "diversified investment, focusing on domestic demand, adjusting structure, and enhancing the brand," the group continues to expand investment plans related to BRIK JAMP KTV in overseas markets, deepening its presence in the Malaysian and Singaporean markets, expanding production capacity in India and the Philippines, and establishing subsidiary companies in South Korea and Turkey. The group enhances the customization power assembly service volume in the North American market at the Value Added Center (VAC) in Kansas City, MO, providing localized services and inventory supply.
• Through the monthly updated MEAN WELL EXPO and the MEAN WELL APP, the latest standard power products, solutions, and technical knowledge can be instantly accessed, strengthening the speed of product promotion.
• Promoting the SDG SHARE+ APP, the shared system services, providing members with activities, training, and meeting services, and integrating employees, customers, suppliers, cooperative factories, and ESG partners to expand social impact.
• Utilizing computerization as an accelerator, enterprise processes and management procedures are developed and applied using computer software, enhancing operational efficiency and accuracy across all functions.

Despite the challenges that persist in the market and supply chain, as a global leader in standard power supplies, MEAN WELL is well-prepared to quickly rebound from the downturn and continue leading partners in pursuing excellence towards a promising future!