Corporate Governance

Operation of the Board of Directors

Tung Mung's Board of Directors is the Company's highest governance body

and the center of major business decisions.It is responsible for formulating corporate strategies.supervising management.and planning corporate governance systems,while supervising and guiding the Company's operations,appointing top-level managers,confirming business performance,making proposals for earnings distribution,preventing conflicts of interest,and ensuring the Company's compliance.

The Chairman is the chair of the Board of Directors,and the Chairman temporarily serves as the President.The Chairman exercises powers in accordance with the laws and regulations and the Company's Articles of Incorporation,or the resolutions adopted by the shareholders'meeting. The President coordinates the operation of and collaboration between various departments and manages the Company'soverall strategic goals and business direction.

Risk Management

Risk management is an important part of an enterprise’s sustainable development

To avoid operational risks, we have formulated relevant measures to avoid risks or countermeasures according to the characteristics of the risks and the scope of impact regarding the potential risks that may be faced in the operating activities, to minimize the impact. Meanwhile, we work to fulfill corporate social responsibility, to strengthen the risk management operations and reduce operational risks in the hope of reducing losses while safeguarding stakeholders'rights and interests.

As for risk assessment and management, each department evaluates the Company’s overall operations and its operations at the end of each year, and then submits a risk management report to the Chief Risk Management Officer, who then forwards it to the President. Each department then executes countermeasures or monitors measures according to the approved countermeasures.

Operational Performance

Tung Mung operates its business with integrity and is committed to creating value and profit

delivering appropriate returns on investments to shareholders, creating employment opportunities for the society, and providing employees with reasonable compensation. In the future, we will continue to focus on our core business, improve process technology and develop products in line with the market demand in the field of rolled stainless steel coil processing, and actively extend the applications of well-developed processes, while keeping abreast of the developments of products on the market and capitalizing on opportunities to increase our market share, thereby ensure steady growth and profitability.

Compliance

Tung Mung is a public company

In addition to complying with the Company Act and relevant regulations, the Company also enforces sound corporate governance for the protection of stakeholders’ interests. The Company did not commit any violations against laws related to the economy, human rights, anti-corruption, or product responsibility in 2023 that resulted in penalties from the competent authority or prosecution.