| Regulatory |
1. Legal Compliance
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Legitimacy/legal compliance |
- Due to the reduction in the number of telecommunications operators after the merger, the bandwidth restrictions of the " Regulations Governing the Use of Radio Frequencies" will have to be re-examined.
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Remaining stable |
- On January 18, 2022, NCC approved mergers between Taiwan Mobile and Taiwan Star, and between Far EasTone Telecommunications and Asia Pacific Telecom. In the future, there will be only 3 operators in the market.
- The bandwidth restrictions which base on the existence of more than 3 operators in the market need to be adjusted, otherwise all operators will violate the regulations in the next auction of 5G spectrum.
- Some NCC Commissioners also agree the regulations may be reviewed in due course after the merger has been completed.
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- In the future, the company will actively communicate with moda to loosen the 1/3 bandwidth restriction, so as to meet the market conditions and promote competition.
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2. Policy and legislation changes
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Societal |
Legitimacy/legal compliance |
- Moda (Ministry of Digital Affairs) is going to accept applications for dedicated telecommunications network in 2023. This new policy will affect the company's commercial frequency revenue and prompt the company to start technical support in response.
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Remaining stable |
- In response to the policy of the Executive Yuan, moda plans to announce the acceptance of applications for mobile broadband dedicated telecommunications network（4.8~4.9GHz）in June 2023.
- The vendors that provide 5G private network services will be expanded from telecom operators to system integration operators, which will have the following impacts on the company:
- While the government releases 4.8~4.9 GHz for application, enterprises that originally cooperated with the company, using the company’s network, base stations and 5G private network services, may cooperate with other system integrators to rent networks, or build their own networks, which affects the company's revenue of providing 5G private network with 5G commercial frequency band. This policy is a newly identified potential risk and is beyond the control of the company.
- Due to the immature development of mobile broadband dedicated telecommunications network（4.8~4.9GHz）, and the expensive cost of network deployment and maintenance, it is estimated that within 2 years, commercial frequency band is still the main way to provide 5G private network services. In the next 2~5 years, the company can also provide both private and public network solutions in accordance with the frequency band applied by the enterprises, depending on the development of mobile broadband dedicated telecommunications network(4.8~4.9GHz), site restrictions and service requirements.
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- In response to the new policy, the company plans to change our strategy which provides both dedicated and public telecommunication network infrastructure in specific area according to the needs of enterprises. The services involve areas such as smart warehousing, smart venues, smart transportation, smart manufacturing, smart parks, smart campuses and smart shopping malls. The company will cooperate with partners to form a 5G dedicated telecommunications network ecosystem and verification mechanism. After the authority accepts the application, we will make every effort to expand the market and hold the business opportunity.
- If moda wants to further open the application in the future, the company will continue to communicate with moda and provide industry opinion.
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| Network bandwidth resources |
3. Climate change/ natural disasters
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(Emerging Climate-Related Disaster Events)
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Environment |
Climate Change Mitigation and Adaption |
- Emerging Climate-Related Disaster Events is a general environmental trend which is beyond our control, classified as an external risk. Climate change would result in extreme weather events such as typhoons and rainstorms with higher intensity, and prolonged periods of excessively high temperatures.
- The electricity and water supply would be unstable because of the risk from the extreme weather.
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Remaining stable |
- Climate change(Emerging Climate-Related Disaster Events) has already had a significant impact on our company's operations and finances, and it will continue to create the following challenges:
Increasing temperatures and intensified storms have led to a higher rate of equipment damage, resulting in increased operating costs. Based on the TCFD assessment, the total financial impact resulting from floods, landslides, and mudslides, including business losses, labor costs, management costs, etc., amounts to 97.482 million NT dollars.
- Extended periods of high temperatures have increased the demand for air conditioning in our company's data centers, leading to higher electricity consumption and higher operating costs.
Natural disasters require additional manpower for emergency repairs, resulting in a loss of human resources and working hours for our company.
- Extra labor costs and working hours are needed for rebuilding destruction of natural
disasters.
- Climate change and extreme weather events can lead to increased slope disasters such as flooding, landslides, and mudslides in situations of extreme rainfall, heavy rain, and intense downpours, have recently caused potential instability in power and water supply may cause equipment malfunctions due to overheating, leading to operational disruptions for our company, as follows:
Power shortages: Unstable power supply to our data centers and base stations may prevent network equipment from functioning properly, resulting in unstable telecommunications services for individual and corporate users. This can damage our reputation and lead to decreased revenue and potential compensations.
Water shortages: Unstable water supply to our data centers and base stations resulting in unstable telecommunications services for individual and corporate users. This can also affect our reputation.
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- Increase climate resilience by introducing high temperature resistant and moisture resistant equipment.
- Reinforcing the Standard Operating Procedure (SOP) of emergency repair as well as recovery after major disasters and holding disaster prevention drill regularly.
- Adding back-up electricity generators to the base stations located in natural disaster hotspots.
- Monitor water conditions in different areas and adjust the operation of water-cooled and air-cooled systems when necessary, and implement temporary water truck backup solutions when needed.
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| 4. IT infrastructure maintenance and operations |
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Network quality and coverage |
- Annual high failure rate of infrastructure increases.
- Obsolete systems and infrastructure to be phased out.
- The demand for computer room air-conditioning equipment increases due to the growth of information systems.
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Remaining stable |
- The high years of use of the infrastructure will increase the failure rate and affect the operation of the information system.
- Outdated systems and infrastructure that cannot meet business needs and affect competitiveness.
- The demand for air conditioning and electricity in the existing computer room has increased to the warning value, which will not only increase operating costs, but also lead to higher carbon emissions, which will affect the company’s carbon reduction performance and carbon reduction costs.
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- Regularly review the operation status of basic equipment, consider the support status of manufacturers, replace and update in a timely manner, and design a backup system to ensure the normal operation of the information system.
- Regular replacement of information infrastructure can improve system performance and introduce new information technology to support business development and enhance competitiveness.
- The introduction of high-efficiency and low-energy-consumption air-conditioning systems and UPS equipment can not only reduce the risk of old equipment failure, but also save the consumption of water and electricity conversion, so as to increase capacity and achieve the goals of carbon reduction and maintenance cost reduction at the same time.
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| 5. Telecommunication technology innovation |
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Network quality and coverage |
- New 5G features such as URLLC/MTC are not yet mature, and lack other killer applications, which affect user transfer and overall development.
- Due to high capacity and complex computing, 5G base stations consume more power.
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Remaining stable |
- The main advantages of 5G are high transmission rate and reduced delay. Due to the lack of 5G "killer applications", such as XR is still in its infancy, and the cost and experience are not yet good enough for the general public to become a mainstream application.
- The large bandwidth and high capacity of 5G base stations provide users with a faster Internet access rate, resulting in a significant increase in power consumption of base stations.
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- Increase the chances of cooperation in the audio-visual industry and create a high-experience image of 5G.
- By improving the user experience of 5G access and widening the difference with 4G user experience, attracting users to migrate to 5G network.
- Turn on the new power-saving function of the 5G base station to reduce power consumption when the base station is not transmitting network data.
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| 6. Bandwidth resources planning |
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Network quality and coverage |
- The sub-1GHz spectrum has been ordered to be returned as a result of a merger case, specifically the 5MHz*2 frequency. This ruling has the potential to impact user rights.
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Remaining stable |
- In the merger case, the regulatory authority, NCC, has required the sub-1GHz spectrum to be returned by June 30, 2024, resulting in a reduction of available bandwidth by 5MHz*2. This will have an impact on user rights.
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- Assuming the closure of the 3G network on June 30, 2024, the 5MHz2 spectrum can be repurposed for 4G usage after the shutdown. This reallocation aims to compensate for the reduced bandwidth of 5MHz2 and minimize its impact on users.
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| Information security |
7. Information privacy and security
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Technological |
Privacy protection |
- Personal privacy regulations are becoming strict domestic and abroad, and public awareness of personal information protection raised.
- Emerging services and product ranges increase personal information leakage and the leakage affects reputation.
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Remaining stable |
- Privacy regulations are becoming strict domestic and abroad, and in recent years, customers’ demands for personal information(PI) protection have increased significantly. Predictably, the competent authority will strengthen information security(IS) and privacy supervision in the next year. As a result, to establish and improve PI and privacy management, the company must continue to invest various resources and minimize external risks related to IS and privacy-related regulations of competent authorities and customer expectations.
- In addition, to provide various high-quality services, it is expected that the scope of innovative services and products will increase in the next 3 to 5 years, which will involve a large amount of PI and privacy processing. If we accidentally leak customers’ PI, we must face the relevant legal responsibilities, for example 500 to 20,000 NTD for each customer. Besides those compensation, TWM will loss of users, administrative penalties, revenue reduction, and reputation damage.
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- In response to the external impact of information security(IS) and privacy, We must build a customer personal information(PI) and privacy protection mechanism, pay attention to international development trends and regulatory requirements, cooperate with the development of innovative services and products, and continue to optimize related processes involving PI and privacy.
- We verify the PI and privacy management effectiveness through an impartial third party. We continue compliance the ISO 27001 "Information Security Management System (ISMS)" and the BS 10012 and ISO/IEC29100 privacy framework standards certificates, integrate corporate operating procedures such as promote the IS maintenance plan, etc. We also expand the scope of PI and management and privacy and obtain the certificate of the latest international privacy protection standard-ISO27701 "Personal Data Privacy Management System" to improve IS and privacy level.
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8. Cyber security
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Technological |
Information security |
- Network attack techniques change rapidly, and the scope of attacks expands to whole enterprises and upstream /downstream of the value chain.
- Competent authorities are increasingly strict on the cyber security protection requirements for the telecommunications industry.
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On the rise |
- In recent years, industries around the world have faced various emerging cyber-attacks. We predict that in the next 3 to 5 years, hacking tactics will continue to change in the coming year. TWM will be impacted by those various attacks, such as ransomwares encrypt corporate files, hackers use social engineering to steal sensitive information. IF hackers launch DDoS attacks to block our telecommunication services one day, TWM will lose about 140 million NTD in revenue. The hackers try to get benefit from those attacks.
- TWM is the critical infrastructure of telecommunications approved by the Executive Yuan and is one of the major telecommunications companies in Taiwan. If we cannot resist the attack, we could take the relevant legal responsibilities, and face customer compensation, loss of users, administrative penalties, revenue reduction, and reputation damage. The competent authority has formulated information security management requirements for mobile broadband and requires telecommunications operators to implement information security management. The company needs to invest in protection against attacks that will continue to increase to avoid cybersecurity-related hacker attacks and external risks.
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In response to the external impact of cyber security, we must continue to invest resources to establish and promote security protection measures to fulfill the competent management of personal information and security management requirements. We review the effectiveness of the protection mechanism and the achievement of information security objectives and report the progress and benefit to the Cyber Security and Data Privacy Protection Committee. Information security protection mechanism includes:
- implement the inspects of the external certification body and the NCC Mobile Broadband Information Security Management Requirements
- Conduct annual penetration test to simulate hacking to test system security, and fix vulnerability.
- establish various quantitative indicators to track the security level
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| Business operation |
9. Greenhouse gas emissions |
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Climate change mitigation and adaptation |
- Specific climate commitments include achieving 100% renewable energy use (RE100) by 2040, reaching net-zero emissions by 2050, and implementing carbon emission quotas.
- Ensuring timely and effective responses to oversight from civil society organizations.
- Meeting the demand for carbon information disclosure, such as through the Carbon Disclosure Project (CDP).
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On the rise |
- In response to the implementation of Taiwan's Climate Change Adaptation Act, while Taiwan Corp. is not listed as a regulated entity for emissions reduction, it has set self-imposed commitments to achieve international climate agreement and initiatives (RE100 and Net Zero) due to the growth in telecommunications business and increased energy usage. This requires increasing renewable energy installation capacity and green power procurement, resulting in increased operating costs. Additionally, efforts to improve energy efficiency in data centers and operational facilities through capital expenditures, including replacing outdated air conditioning systems and using high-efficiency SMRs (power conversion efficiency ≥ 96% SMR), will incur costs of approximately 38 million yuan.
- Civil society organizations (such as Greenpeace) are actively monitoring the company's energy-saving efforts. Failure to provide a positive response may negatively impact the company's reputation.
- The company conducts self-assessments of carbon information disclosure based on international corporate sustainability rankings. Failure to provide a positive response may reduce investor confidence in the company.
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- Carry out organizational carbon emissions accounting.
- Establish Energy/ Environmental Management System.
- Support the government’s green energy policies.
- Deploy green infrastructure
- Improve energy efficiency
- Green energy marketing strategies
- Participation in international sustainability initiative movements and assessments
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| 10. Occupational safety and working rights |
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Supply chain management |
Occupational safety
- Crucial technical talent have been occurred work-related injuries.
- Contractor's works security vulnerability.
Working rights
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On the rise |
Occupational safety
- If work-related injuries increase, it may cause physical and mental injury to employees and may also affect company operations.
- If there is a mistake in the contractor's works safety, it will affect the goodwill.
Workplace Human Rights
- Discriminatory treatment in remuneration, benefits, promotions, raises, tenure, trainings, working conditions or employment rights due to gender, age, marital status, race or disability. The company's discriminatory practices result in legal violations, leading to reputational damage and government penalties.
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Occupational safety
- Operate Occupational Safety and Health Management System (ISO 45001:2018).
- Committed to the education and training of workplace safety for all colleagues, especially for colleagues who have applied for work-related injuries to provide safety and health care and training.
- Formulate standard operating procedures and provide appropriate use of personal protective equipment.
- The operating procedures for setting contractor safety, health and environmental protection management standards have been provided for contractors to abide by and implement contra.
Workplace Human Rights
- The company operates its recruitment process through open hiring and explicitly states that there will be no differential treatment based on gender, age, marital status, race, or disability in terms of remuneration, benefits, promotions, raises, tenure, trainings, working conditions, and employment rights.
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11. Sustainable and Responsible Supply Chain Management
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Supply chain management |
TWM performs supplier ESG assessment and on-site audit annually and finds following risks among our supply chain:
- Cyber security risk: suppliers do not properly manage information security, or the information security protection is incomplete;
- Network security: suppliers perform poor network security management, increasing the risk of cyber attacks
- The risk of extreme weather shocks leading to supplier transportation interruptions and raw material shortages;
- Extreme weather: increasing temperature results in occupational safety risks for suppliers;
- Climate action failure: carbon reduction actions are not as effective as expected, resulting in increased government regulation and increased risks of higher operating costs for suppliers may be subjected to carbon fees and carbon tax.
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On the decline |
- Cyber attack occurring in supply chain may lose customers’ confidence in TWM and may also damage TWM’s reputation.
- Poor network security protection may cause operational disruption, which in turn will affect the operation of TWM.
- Extreme weather may damage suppliers' equipment or interrupt transportation, affecting the supply of products and services for TWM to operate.
- Extreme weather may cause excessive temperature, exposing workers under heat. This situation may cause labor shortages, delaying construction services and pending TWM’s operation.
- Delays in climate actions may drive governments to increase climate-related requirement. Suppliers who are unable to achieve carbon reduction targets may be subjected to higher carbon fees and carbon taxes, which may increase the operating costs of TWM.
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- Perform supply chain due diligence to identify suppliers’ cyber security risk level. List high-risk suppliers and require them to propose improvement plans within limited time. External experts’ help such as training and education programs may be implemented according to the improvement situation.
- Perform supply chain due diligence, identifying suppliers with high network security risk level. Require high-risk suppliers to strengthen their network security technology and management.
- Identify product and service suppliers with serious impact, analyzing impact levels to understand potential weak points for alternatives, such as considering multiple suppliers and contractors to confirm the stability of supply chain.
- Identify manufacturers with low-carbon emissions or advanced carbon management to establish cooperative relationships to build a low-carbon supply chain.
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12. Infectious disease pandemic and epidemic
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Employee’s physical and mental health |
- Operational disruption caused by employees infected with COVID-19；infected with COVID-19 of technical talent has led to a decline in the quality of communication services and affected operations.
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On the decline |
- The mutation of the infectious disease virus increases the infectivity, which increases the risk of employee infection. In addition to impacting the health status of infected employees, the disease also affects the physical and mental health of employees under quarantine control or epidemic investigation, which affects the stability of the company's operations; it is estimated that the The effects will last for another year.
- If the source of infection comes from outside the company and is highly contagious, the company cannot control the risk.
- Most of the company's business stores and office buildings are located in urban areas where tourists gather, resulting in a higher risk of infection and quarantine or epidemic investigation.
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- In order to protect the physical and mental health of all employees and customers, we have prepared measures to prevent infection before the government's anti-epidemic measures.
1.Establish a standard for the identification of individual cases of infection, conduct epidemic investigation and list quarantine more strictly than government regulations, and prevent the risk of infection in stores and offices.
2.Each department can use the rapid test prepared by the company according to business needs, or can purchase first and then ask the company for payment, so that colleagues can feel at ease.
3.The company provides paid time off and encourages employees to get vaccinated to protect themselves and others.
- Protect critical technical talent work done outside the office to maintain communications services.
1.According to the epidemic situation, start the personnel backup plan, work in groups and work from home.
2.Sufficient stockpiles of anti-epidemic materials.
- Formulate a notification management mechanism to reduce the risk of preventing and blocking infection
1.Real-time reporting of daily M+ messages, tracking and care management of notified objects to prevent any possible sources of infection
2.Formulate and update the [Office Epidemic Prevention Management Guidelines] in response to the epidemic, improve colleagues' awareness of epidemic prevention, restrict visitors, and avoid cross-building contact and other epidemic prevention measures to reduce the risk of infection.
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| Market |
13. Alternative and emerging business models |
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Circular economy |
- The replacement cycle of mobile phones is extended. It’s difficult to attract users to transfer higher-rate plans by only offering flagship handsets’ plans.
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Remaining stable |
- The similarity of mobile rate plans among operators lowers the barrier for users to switch between operators.
- All telecom companies offer diverse options and leverage OTT services or group resources to strengthen their sales competitiveness to extend their market share.
- Therefore, the Company is facing the competition beyond the telecommunication industry.
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- The Company continue to utilize the group's resources to provide “momobile" packages, which gives more momo coin reward for higher-tier plans, and actively strive for exclusive services and products, including international-brand Disney+, Apple TV+ and YouTube Premium, etc. Moreover, the Company launched “OP Life” packages, providing a one-stop service experience, and exclusively offered the Logitech G-Cloud gaming device for gamers to higher-tier plans.
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14. Intensified Competition
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Risk management |
- Telecom companies have invested in the fixed broadband market through the cooperation with broadband operators. It leads to the escalation in the competition of Taiwan Mobile’s “Double Play plans”.
- It has been almost three years since 5G’s launch. There is no universal killer application (Note 1) that can accelerate the development of the 5G market.
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On the decline |
- Telecom companies seek to cooperate with broadband ISP operators to replicate the model of “Double Play Plans”, which may erode the sales and revenue of TWM “Double Play Plans”.
- The penetration rate of 5G is growing slowly, and the take-up rate of higher rate plans is slowing down. Telecom companies are actively investing resources in the development of 5G services and applications with the expectation to become the first service provider with killer services to upgrade more users to 5G and seize market share. TWM needs to face the risk of declining users and revenue without launching 5G killer application.
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- The Company plans to continue expanding the "Double Play" service and enhancing its coverage by utilizing a successful model of group cooperation. TWM will collaborate with broadband service providers to build a more stable network infrastructure, aiming to improve network stability. Additionally, we will introduce Matter, a cross-brand IoT platform, to create a more diverse range of smart home packages, thereby deepening our presence in the smart home market.
- The Company offers diversified and exclusive services such as Disney+ and YouTube Premium to expand its 5G competitive advantages and grow its 5G customer base.
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15. Changes in customer behavior
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Customer experience |
- In the post pandemic era, customers have become accustomed to the convenience of online shopping, the demand for online shopping continues to increase. Telecom companies have deployed e-commerce shopping business to seize the market opportunities.
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Remaining stable |
- Competitors have launched rate plans similar to our "momobile", offering bonus rewards or bonuses as giveaways for e-commerce’s online shopping, which may erode the Company’s uniqueness and profitability in the territory.
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- The Company has strengthened cooperation with momo to create synergy with Fubon Group. A TWM e-shop will be built on the momo platform and the Prime Day event for momo member only will be set. The Company also plans to accept the purchases of devices and accessories using momo coins on the myfone stores.
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| 16. Demographic changes |
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Service impact management |
- The negative growth in the population will reduce mobile subscriptions.
- The aging society has brought out different service needs.
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On the rise |
- Due to Taiwan’s population has begun aging and negative growth for three consecutive years since 2020, the demand for mobile service is decreasing, which would erode the Company’s revenue.
The demand for mobile services is changing, and the demand for mobile phone bundled plans has gradually declined.
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- Although elderly users tend to have a lower frequency of changing their mobile phones, their acceptance and usage of digital technology have also increased. By offering diverse product/service bundles and all-inclusive experiential service packages, TWM can transform the traditional model of binding customers to specific products. This approach provides multiple choices and addresses the pain points of searching for individual technology products. Furthermore, it has the potential to increase monthly fees.
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| 17. Geopolitical and Economic/Political Changes |
Geopolitical |
Supply chain management |
TWM’s suppliers who are located in or transit through geopolitically tense areas may be subject to the following risks in their supply chains, resulting in disruption, disruption or change of operations in TWM:
- Not able to import emerging key technologies or service training in a timely manner
- Lack of ability to attract and retain key talent.
- Increase in training costs.
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In recent years, geopolitical tensions have increased in some regions. Although they are external risks that are not under the control of enterprises themselves, they may still have indirect impacts on TWM’s operation due to disruption of supplier operations located in or through geopolitically tense areas, including:
- The production or export of raw materials in specific regions is blocked, resulting in the inability to obtain key raw materials required by suppliers, affecting product manufacturing and services, which restricts TWM’s ability to obtain products and services immediately, affects TWM's operations, and leads to forced changes or even suspension of business strategies.
- Transportation routes in specific areas are blocked or interrupted, affecting the inability to export suppliers' products or delays in delivery, impacting TWM’s acquisition of necessary equipment, resulting in the inability to smoothly implement necessary maintenance services, sales plans and other operational activities.
- According to WEF assessment, the world will continue to be affected by geopolitical tensions in the next two years, which will lead to global economic inflation, reflected in the increase in TWM’s procurement costs, resulting in an increase in overall operating costs.
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- Identify products and services with serious impact, take stock of their supply chains and analyze the degree of impact, seek alternatives, and establish a diversified and resilient supply chain system.
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| Talent management |
18. New technology talent needs |
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Green application and circular economy |
- Unable to recruit emerging key technical talents in time.
- Unable to effectively attract and retain emerging key technical talents.
- Increased recruitment costs.
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Remaining stable |
- Failure to recruit key technical personnel in time will impact the ability to meet customer needs and reduce competitiveness.
- It is necessary to effectively attract and retain new key technical talents in order to enhance competitiveness.
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- Implemented training plans with telecom technology manufacturers to prepare employees to master new technologies.
- Train internal seed lecturers to compile e-Learning electronic textbooks and create new technology training databases.
- Established 9 internal "societies" divided according to different technical fields to hold seminars and learn the latest software technology.
- Invest more resources in training courses, so that talents with different backgrounds but potential can train new technologies
- Established the “Tech Genius Cultivation Internship Program”, regardless of nationality, summer and winter vacation, and work location, providing students with information technology potential with internship opportunities to become IT seeds. Encourage colleagues to return to school for speeches, participate in campus recruitment, cooperate with AppWorks to offer IT Elite Employment Guarantee Class, and attract young people with potential to know and join Taiwan Mobile.
- Established ten innovative research laboratories, using technology and innovation capabilities to develop and verify technical scenarios for multi-faceted products, actively developing various technology services, attracting key technical talents, and enhancing competitiveness.
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19. skill requirements change
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Green application and circular economy |
- Demand for specialized technical talent increases
- Overreliance on specific talent
- Increased costs for talent retention or training
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Remaining stable |
As industries and technology trends continue to evolve, the company's competitiveness will be impacted if we fail to cultivate, hire, or retain appropriate and specialized talent.
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training needs assessment to develop yearly training plans.
We provide diverse development opportunities to cultivate talent in anticipation of future expertise, enhancing workforce efficiency and strengthening the company's competitiveness.
- Based on industry trends and strategic development, we conduct annual training needs assessment to develop yearly training plans.
We provide diverse development opportunities to cultivate talent in anticipation of future expertise, enhancing workforce efficiency and strengthening the company's competitiveness.
- Technical supervisors map out required skills and certifications in response to trends. Supervisors evaluate employees on skills/licenses and tailor training programs accordingly.
- Employees will collaborate with supervisors to create their own individual development plans in accordance with feedback from multifaceted appraisal system and career plans. This helps employees acquire knowledge and skills they need at work or for their next role within the organization.
- We have established promotion plans for R&D/Technical Managers and Assistant Managers, aiming to motivate and strategically plan the professional career development of our R&D and technical talent.
- The company initiates "Work Club" scheme to encourage cross departmental collaboration. Employees from different departments can work on projects together, learn new things from each other, which contributes to their overall personal and professional development.
- We cultivate employees to acquire professional skills necessary for innovative services, broaden their knowledge base, and undergo the company's transformation together.
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| Innovation management |
20. Innovation and creativity energy growth△ |
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Technology innovation & application |
- Digital technology services are constantly evolving, with new innovative services emerging both domestically and internationally.
- Insufficient innovation momentum to attract customers has led to an inability to increase or maintain customer stickiness, resulting in customers switching to alternative options.
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Remaining stable |
- If TWM's growth in product innovation momentum is insufficient, it will be difficult to compete with domestic and international startups, resulting in an inability to generate a larger customer base and revenue for innovative services.
- If the growth momentum in innovation is insufficient, it will fail to meet the ever-changing demands of customers, attract their attention and time, and therefore be unable to increase revenue from innovative services.
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- Organizing innovation competitions and hacker festival events to foster an internal culture of innovation and reward employees for cross-departmental innovation.
- Establishing a Kepler team composed of experienced colleagues to facilitate resource matching for innovative teams and provide guidance for the implementation of innovative applications, thereby enhancing innovation momentum.
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| 21. Mastery of cutting-edge trends |
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Technology innovation & application |
- Rapid advancements in cutting-edge technology, with an unclear direction for future development.
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Remaining stable |
- If the future development trends of new technologies are not understood and grasped, there is a possibility of neglecting research and investment in certain areas, leading to missed development opportunities.
- In the event of emerging competitors or alternative products, not having prior strategies in place may result in the loss of existing revenue.
- Opportunities presented by new technologies are subject to multiple factors of change. Investing heavily in a particular field without careful consideration may carry significant risk of losses.
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- Encourage colleagues involved in innovation to stay updated on the development trends of cutting-edge technology through multiple channels, including accessing information through online sources, technology databases, attending seminars, and engaging in exchanges with partners.
- Utilize strategic alliances or cross-industry collaborations to explore application scenarios across personal, business, and household domains. Begin with small-scale practical validation and gradually expand and promote initiatives.
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