Business Performance
Financial Performance
In 2023, the global economic recession, rising geopolitical tensions, ongoing inflation, and high interest rates continued to impact markets, leading to weak end demand and conservative business investment. In this challenging environment, HIWIN achieved consolidated revenue of US$802.28 million, net profit of US$60.25 million, and net profit per share of US$0.2. For further details regarding HIWIN’s business performance and financial information, please refer to the 2023 Annual Report.
HIWIN’s dividend policy adheres to the Company’s articles and legal regulations regarding the annual distribution of earnings. The dividend distributions for the years 2020-2023 are as follows:
Tax Management
Tax policy and principle
HIWIN upholds the value of innovation and sustainable operation, committing to information transparency and sustainable development. We fulfill our social responsibilities in the regions where we operate, assume reasonable tax burdens in major operating countries, support government tax incentive policies, and contribute to local economic development and industrial innovation. We manage and formulate HIWIN’s tax policies and guidelines to pursue sustainable development based on sound and reasonable principles.
Tax governance and risk management
The Finance Section oversees the daily tax administration and management of HIWIN, with qualified and experienced personnel assisting the accounting supervisor in fulfilling tax obligations. We also engage professional tax consulting agencies to enhance our professional knowledge and assist with tax matters. Our internal audit unit conducts internal control checks to ensure compliance with the internal control system and legal requirements for accounting, tax, and financial reporting processes.
Changes in tax laws and regulations can potentially impact our operational activities. HIWIN is primarily regulated by the tax laws of the Republic of China government. To mitigate this tax risk, we closely monitor domestic and foreign policies and laws that may affect our finances. We collect information, analyze potential tax impacts, and develop countermeasures.
In line with international trends in tax governance, HIWIN adheres to tax regulations and pursues sustainable development. We comply with tax laws and regulations for declaration and payment, with each subsidiary within the group appointing its own accountant to review and verify tax matters. After verification, tax matters are reported according to internal hierarchical responsibility levels. The Finance Section serves as the tax management unit, ensuring that tax personnel adhere to internal operating procedures and tax regulations. They handle routine tax declaration and payments, provisional tax declaration, annual tax declaration and payment, as well as various types of income declaration in accordance with regulations. In the event of significant tax matters, the section reports to the Board of Directors as necessary.
Tax information
HIWIN (including subsidiaries and sub-subsidiaries) tax information for the past four years is as follows. For more detailed information on corporate income tax, please consult the 2023 Annual Report.