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TPEx Business Report 2022

Part 1 - Major Achievements

(1) Promoted new companies into TPEx multi-tiered market

  1. There were 22 new applicants for listing on TPEx Main Board and 67 new applicants for registration on Emerging Stock Market, including 55 applicants for Emerging Stock Board (ESB) and 12 applicants for Pioneer Stock Board (PSB). A combined total of 54 companies applied for GISA registration or counseling service.
  2. As for the new entrants in 2022, 11 applicants for listing on TPEx Main Board, 34 applicants for registration on Emerging Stock Market, and 22 applicants for registration on GISA or counseling service belonged to significant industries designated by the government.
  3. TPEx visited 85 companies and held 14 seminars (2 held on line) for both domestic and foreign companies to promote listing on TPEx markets. Moreover, 29 GISA-related promotion activities were held or involved by TPEx.
  4. To promote Pioneer Stock Board, TPEx amended the requirements of qualified juristic investors to be either “professional institutional investors” or “institutions with more than 2 years of experience in securities investment”. At the same time, TPEx amended the threshold of wealth capacity about qualified individual investors from NT$10,000,000 to NT$5,000,000.

(2) Promoted key measures and relevant issues laid out in the FSC's Corporate Governance Roadmap 2022

  1. TPEx announced the “Risk management practice for the companies listed on TPEx or TWSE” and accomplished “Better reference examples of risk management”
  2. TPEx amended the “Rules Governing the Preparation and Filing of Sustainability Reports by TPEx Listed Companies” aligning the disclosure principals of TCFD and SASB.
  3. TPEx held 4 sessions of "2022 Reference and Guidelines on the Exercise of Powers and Responsibilities by Independent Directors and Audit Committee along with Directors and Supervisors Seminar"
  4. In addition to the five types of companies such as the TPEx primary listed companies, technology enterprises, culture and creativity enterprises, agricultural technology enterprises, and biotechnology and medical care enterprises, from 2023 onwards, main board companies with paid-in capital of NT$600 million or more shall hold at least 1 investor conference each year. The rest of main board companies shall hold at least 1 investor conference every three years.
  5. In response to the development trend of ESG-related activities, TPEx set up a sustainability committee, enhanced the quality of the sustainability report, investigated greenhouse gas inventory and promoted other related ESG strategies, in reference to the practices of international exchanges such as Nasdaq (Nasdaq), London Stock Exchange Group (LSEG), Singapore Exchange (SGX) or Japan Exchange Group (JPX).

(3) In line with ESG strategies and sustainable development, promoted Sustainable Bond Market

  1. 27 green bonds totaling NT$79.423 billion were issued and listed on TPEx in 2022.
  2. 12 sustainability bonds totaling NT$23.724 billion were issued and listed on TPEx in 2022.
  3. 3 social bonds totaling NT$5.6 billion were issued and listed on TPEx in 2022.
  4. The accreditation and listing mechanism for sustainability-linked bond (SLB) was introduced. A total of 2 SLBs were issued by the end of 2022, with an issue amount of NT$3.5 billion.
  5. 16 media and press releases were issued, 29 promotional events were held, and visited 12 issuers, investors and underwriters were visited to disseminate the concept of sustainable investment and financing in 2022.
  6. TPEx integrated the " Issuer-Level Sustainability Strategies” and “Impacts of Sustainable Bonds” sections into “Sustainable Bond Market zone” on TPEx website to enhance issuers ESG disclosure.

(4) Promoted the bond market, new trading mechanism, and the diversification of investment products or services.

  1. The listing mechanism of professional board bonds issued by TPEx primary listed companies or ESM foreign companies was launched.
  2. TPEx built the confirmation platform of financial product derivatives transactions over the counter.
  3. TPEx transmitted the transaction data of OTC derivatives to the CCP system of the Taiwan Futures exchange.
  4. TPEx introduced the “TIP Customized TPEx ESG High Dividend Total Return Index"and the “TIP TPEx ESG 30 Index"

(5) Enforced securities market information security supervision and enhance cyber resilience.

  1. TPEx assisted in making the rule of “Self-Regulatory disciplines of Information Security Protection Benchmark” for securities firms.
  2. TPEx assisted in the pilot implementation of the "Securities and Futures Industry Computer Security Incident Response Team (CSIRT)"
  3. TPEx formulated the "Securities and Futures Industry Log Retention Reference Guidelines".

Part 2 - Other Important Measures

  1. TPEx enhanced the quality of IPO cases and assist high-quality domestic and foreign enterprises to engage in TPEx market.
  2. TPEx advanced the Go Incubation Board for Startup and Acceleration Firms (GISA) and related businesses.
  3. TPEx promoted corporate governance and enhanced market supervision mechanism to safeguard the interests of investors.
  4. TPEx enhanced the trading and settlement mechanism for TPEx-listed stocks and emerging stocks, and promoted diversification of financial products.
  5. TPEx strengthened market surveillance function and strictly crack down on illegal trading behavior.
  6. TPEx promoted bond market development.
  7. TPEx developed the OTC derivatives market.
  8. TPEx strengthened the auditing and supervision over securities firms and leveraged transaction merchants.
  9. TPEx maintained and enhance the efficiency, security, and stability of TPEx’s trading systems.
  10. TPEx promoted international communication and cooperation and financial literacy education.
  11. TPEx responded to material or abrupt events, strengthened risk management and ensured effective continuous operations.