In order to effectively mitigate market volatility risks and secure stable profits, FENC has built a diversified investment portfolio that ranges from cement production, department store retail chains, telecommunications, financial and banking services, land and sea transport to construction. Our invested businesses are listed companies with an outstanding record of reliable stewardship of investors’ capital, including Far EasTone Telecommunications Corporation Limited (FET), Asia Cement Corporation (ACC), Far Eastern Department Stores Limited (FEDS), Oriental Union Chemical Corporation (OUCC), and Far Eastern International Bank (FEIB). They not only generated significant revenues and earnings in 2019, but are also pursuing growth with forward-looking and innovative strategies. FET has aggressively tapped into the new economy with a focus on 5G digital solutions, having secured optimal 5G bandwidth. It plans to build the most comprehensive 5G coverage in the country with a combination of low, medium and high bands, so as to successfully launch AR/VR, 4K/8K ultra-high-definition audiovisual streaming services. It is also committed to utilizing its strong capabilities in big data, AI and IoT as the core competencies essential for corporate transformation and industrial upgrading. ACC’s significant growth in earnings thanks to its remarkable performance in China has been recognized as FENC’s record-high investment income. It has undertaken great efforts to transform into an environmentally friendly company. FEDS intends to advance its dominance in the sector of department stores by engaging intensely in smart retail with the latest technology. Its innovative operations are certain to fortify its iconic stature in Taiwan’s retail industry. Taipei’s Xinyi A13 is an intelligent shopping mall that connects consumers to fashion and the Chubei New Century Shopping Mall is scheduled to open next year. Our invested companies are managed by teams who demonstrate both innovation and vision while seeking to grow their businesses, and thereby capture the best market opportunities and deliver maximal profits for the company.