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2021/07

Taiwan An Overview of CTCI Corporation’s 2021 Annual General Meeting　
　

On July 30, 2021, CTCI Corporation held its 2021 Annual General Meeting at International Conference Hall, Mellow Fields Hotel. During the meeting, the following motions were carried: Business report for fiscal year 2020, financial statements, earnings distribution of fiscal year 2020, cash distribution from legal reserve, amendments of “Articles of Incorporation” and “Regulations Governing the Acquisition and Disposal of Assets”, and the issuance of restricted stock awards.



According to the business report, consolidated sales revenue amounted to TWD 55.558409 billion in 2020, a 4.56% decrease against 2019. Consolidated net income was reported at TWD 766.548 million, a 34.87% decrease against 2019. Total new contract awarded to CTCI Group during fiscal year 2020 was TWD 130.236856 billion. COVID-19 pandemic is the major reason behind the drop of consolidated sales revenue, as some of our ongoing projects were suspended due to lockdowns in regions or countries where the projects are located. As a result, revenues for many contracts have not yet been recognized. In addition, the 2021 Annual General Meeting has approved TWD 661,503,955 in cash dividend and TWD 865,215,827 in cash distribution from legal reserve payable to shareholders. (TWD 2.0 per share based on 763,359,891 common outstanding shares.) The ex-dividend trading date and the dividend payment date were set to be on August 20 and on September 17, 2021, respectively.