HSINCHU, Taiwan, Jun 18, 2020 –Accton Technology, the global leader in the design and manufacture of network and communications equipment (Accton) (TWSE: 2345.TW), today (18) held its 2020 Annual Shareholders’ meeting, which was chaired by Fai-Long Kuo, Chairman of Accton Technology.
During the meeting some major resolutions were passed, including acknowledgement of the 2019 Business Report and Financial Statements, and approval to issue an NTD 6.2 cash dividend per share.
Fai-Long Kuo spoke at the meeting and sincerely thanked all shareholders for their long-term support and recognition. “The Accton Technology team and employees will continue to work hard to create higher value for all shareholders,” said Mr. Kuo.
The CEO of the Accton Group and President of Accton Technology, Edgar Masri, reported on the company’s 2019 operating conditions and consolidated revenue, which reached NT$55.401 billion in 2019, with an annual growth rate of about 29%. The net profit after tax was NTD 4.95 billion, an increase of 68% over the previous year. As for the breakdown by product line, switches accounted for 68% of revenue, network appliance equipment 16%, network access equipment 7%, and wireless network equipment 4%.
In his report, Edgar Masri also highlighted key areas for new technology and product investments, including:
Investment in open network technology and software development.
Leading mass production of hyperscale data center high-density 100G and 400G switches, and delivering high-density 200G/600G data center interconnect open packet transponder.
Acceleration in the development of Wi-Fi 802.11ax, wireless high-frequency millimeter-wave, and other emerging wireless network technology products.
Investment in the development of a new generation of 100G smart network cards.
Mass production of artificial intelligence (AI) inference acceleration cards.
Building the Zhunan factory production base, and the introduction of cloud and AI application technologies to improve production efficiency.
Looking ahead, the uncertain factors surrounding the overall global environment and the resulting systemic risks are still challenges to which Accton must actively respond. Accton will continue to leverage its solid core strengths, flexible strategies, and improve effective execution in response to rapid changes in the global industry landscape.