According to the Taiwan Stock Exchange (the TWSE), the 10th Round (2023) Corporate Governance Evaluation has been completed, which included 952 TWSE- and 754 TPEx-listed companies, 1,706 in total. According to the evaluation scores, the companies are divided into seven groups of top 5%, 6% to 20%, 21% to 35%, 36% to 50%, 51% to 65%, 66% to 80% and 81% to 100%, respectively. The evaluation results for the TWSE- and TPEx-listed companies are announced separately.

 

For a better understanding, the results are divided into the four categories of financial and insurance industry (42 companies in total), the electronics industry with a market value above NT$10 Billion (272 companies in total), non-financial and non-electronics industry with a market value above NT$10 Billion (263 companies in total) and a market value between NT$5 Billion and NT$10 Billion (313 companies in total). Moreover, to encourage the well-performing small-cap TWSE- and TPEx-listed companies, a new category of market value under NT$5 Billion (816 companies in total), is announced this year. The TWSE- and TPEx-listed companies in those foregoing categories are mixed-ranking, and each category is announced by tier based on the score to show the performance in their respective industries and categories with similar market value scales.

 

Through the indicators and relevant laws and regulations, enterprises have been gradually adopting favorable corporate governance measures. Statistical data shows that TWSE- and TPEx-listed companies continued to make improvements in 2023. For example, the number of companies reporting their annual financial reports by the end of February was 337, an increase of 32% over 2022. The number of companies holding their Annual General Meeting by the end of May was 536, an increase of 26% over 2022.The number of companies which prepared their ESG reports was 896, an increase of 31% over last year. In addition to quantitative indicators, the evaluation system also continues to encourage enterprises, by strengthening qualitative requirements, adding differentiation and sending questionnaires to collect feedback, to drive companies to implement the governance system and to appropriately disclose relevant performance.

 

The Taiwan Stock Exchange and Taipei Exchange will hold the award ceremony in June to honor the top 5% of companies on the listing market basis (48 from TWSE and 38 from TPEx) and the top 5% of companies in the category of "Market Value Between NT$5 Billion and NT$10 Billion" (nine from the TWSE and seven from the TPEx). In addition, the top 1% of companies in the category of “Market Value Under NT$5 Billion” (five from the TWSE and three from the TPEx) and the companies most improved this year (TWSE one and TPEx two) will be also awarded in the ceremony to further enhance TWSE- and TPEx-listed companies to strengthen their performance of corporate governance. 

 

Links to the websites for the results of the 10^th Round Corporate Governance Evaluation:

Corporate Governance Center (https://cgc.twse.com.tw/evaluationCorp/listEn)

Securities and Futures Institute (https://webline.sfi.org.tw/CGE/index.asp)