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Company Governance

Operation Overview

Everlight and its subsidiaries focus on the manufacture of photoelectric components which can be further divided into two categories: light-emitting and sensor components. In response to the use of LED lights in automotive lighting due to safety and reliability requirements, Everlight introduces a variety of LED components that comply with the automotive standards (AEC-Q101). Everlight is committed to improving its production efficiency. In 2017, the Company recorded a production value of NTD 22.026871 billion, with the output at 27,982,613 pieces. To provide high-quality products and efficient service to its large client base, Everlight has set up offices all over the world, including Asia, Europe, America and other regions.

For information on Everlight's sales channels, please refer to the webside: http://www.everlight.com/wheretobuy.aspx


Company Structure

The board of directors is the Company's highest management unit. To improve Everlight's management structure and operational performance and practice corporate social responsibility, the Company establishes a compensation committee and an audit center which can improve the functions of the board, protect stakeholders' interests and disclose information in a fair and transparent manner.

Please refer to the 2017 Annual Report of Everlight for the details of the duty of every department and composition of the Board of Directors:http://www.everlight.com/investordetail.aspx?pcseq=15&cseq=22

Integrity Operations

The Company introduced the RBA (formerly EICC) code of conduct in 2016 and applied the related regulations in 2017 to review operations and management. The Responsible Business Alliance code of conduct covers human rights, ethics, environment, safety and health issues, and most are in the government regulations. The Company rigorously complies with government regulations and RBA requirements and formulates corresponding internal management processes and policies.

Everlight has established an accounting and internal control system, set up an audit center under the board of directors. Through the promotion of internal audit, the company may ensure the achievement of the goals of the effect and efficiency of operations, the reliability of financial reports, and the compliance of laws and regulations, as well as by assisting the board and management in firmly fulfilling their responsibilities. Internal auditors of the company conduct audit, investigation based on the audit plan on a regular basis, evaluate the effectiveness of internal control system, and measure the effect and efficiency of operation. They also prepare audit reports for review by directors and supervisors and provide improvement recommendations to management to ensure that internal control system is implemented effectively, to implement integrity operation and avoid frauds.

Anti-corruption

Integrity is one of our fundamental business philosophies and is deeply rooted in the corporate culture. Directors, supervisors, professional managers and employees follow the provisions of the "Integrity, honesty and intellectual property rights agreement" and strictly abide by the 8th article of the agreement, "Integrity and honesty", and they will not tolerate violations of business ethics and will use their professionalism and diligent management to create the best interests of shareholders. The donation or sponsorship made by the company is conducted in accordance with the internal regulations of the company to prevent any offering or receiving bribes or illegal political contributions from happening. In 2017, no corruption, bribery or blackmail actions were discovered as committed by internal employees of Everlight.

The company also stipulates “Rules of Procedure for Board of Directors Meetings,” in which Article 15 provides the recusal policy for directors with conflict of interests. If a director or a juristic person that the director represents is an interested party in relation to an agenda item that the relationship is likely to prejudice the interest of the Company, that director may not participate in discussion or voting on that agenda item and shall recuse himself or herself from the discussion or the voting on the item and may not exercise voting rights as proxy for another director.

The Company has established a "Code of Ethics for Employees" in accordance with the RBA code of conduct and requires all employees to abide by the integrity and honesty standards. Employees are prohibited from accepting any form of gift and all of them must sign the "Integrity, Honesty and Intellectual Property Rights Agreement". In 2017, every employee received at least 1 hour of training related to anti-corruption. Every new-hire received 1 hour of training related to the regulations of the Trade Secrets Act during the new hire training sessions.

We request our suppliers to sign our "Suppliers' CSR Commitment", which requires them to adopt high standards of ethics. Proper management and monitoring can prevent activities that violate business integrity, including bribery, gifts and fraud. All new suppliers are required to sign an "Honesty Letter of Commitment".