At 9 a.m. on Jun. 24, 2016, the 2016 THSRC Annual General Meeting (AGM) was launched. The meeting was hosted by THSRC Chairman Wei-Chi Liu and BOHSR was represented by Deputy Chief Engineer Lu leading associates and financial consultants. The attendance rate of common stock shareholders was 82.58%, conforming to attendance regulations.
In the meeting, Chairman Wei-Chi Liu indicated that with effectiveness of marketing activities in 2015 and the one-time benefit and cost generated from the implementation of HSR Financial Improvement Plan, the annual revenue of 2015 reached 51.9 billion NT dollars with net profit of 20.87 billion NT dollars. In addition, the Chairman expressed gratitude to the management team of their efforts and the government and shareholders of their support. Following the statement, the Chairman reported three general issues (1. Management and execution measures of the company, 2. Funding situation, implementation progress and benefit report of 2015 private placement of common shares in capital increase project and 3. Assigned 2015 annual remuneration to the board and employee compensation case report) which were all unanimously approved. Then, the Chairman presented two recognition issues (1. 2015 Recognition of Annual Operation Report and Financial Statements and 2. 2015 Annual Surplus Earnings Distribution Report) which were both supported by 94% of attended shareholders conforming to legal requirements of approval from more than half of attended shareholders.
According to the company's 2015 business report and annual report, growth has been stable throughout the 9 years of operation. Regarding operation loading, a total of 50,532 trains have been distributed in 2015 which resulted in an increase of 65 trains comparing to 50,467 trains dispatched in 2014; the maximum of two-way train dispatch per day reached 156 trains; the maximum of two-way train dispatch per day during continuous holidays even reached 195 trains with due regard to the interests of passengers. The occupation rate was 59.65% in 2015 which increased 2.53% comparing to 57.12% in 2014. Total passenger carried in 2015 reached 50.56 million which increased 5.29% (2.54 million passengers) comparing to 48.02 million in 2014. Passenger-Kilometers reached 9.655 billion which increased 4.55% comparing to 2014. The annual average of passenger carried per day was 139,000, which increased about 7,000 people comparing to 132,000 in 2014. As for operational safety, the average punctuality rate in 2015 was 99.66% which increased 0.05% comparing to 99.61% in 2014 and there were zero operational safety incidents throughout the year.
In response to the comments or proposals raised by shareholders, Chairman Liu not only thanked the shareholders’ concerns regarding company operation, but also addressed the proposals one by one. Finally, Chairman Liu stated that the management team will continue to provide quality services to create customer satisfaction and fulfill social responsibilities.