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原始內容
Taiwan
Nan Juen International (6584 TT)
Target price:
TWD1,022.00 (from TWD1,022.00)
Share price (29 Jun): TWD685.00 | Up/downside: +49.2%
Growth story intact after the break
- ASIC second vendor verification reinforces conviction in share gains
- Vietnam ramp-up offsets 2Q26 margin pressure from regular server mix
- Reaffirming our Buy (1) rating and 12-month TP of TWD1,022
What's new: We provide an update on Nan Juen following the quiet period for its convertible bond issuance.
What's the impact: Nan Juen emerged from its quiet period in June following its convertible bond issuance, which was priced on 24 June. We highlight that Nan Juen has been verified as the second source vendor for ASIC by its second CSP client, a critical milestone that reinforces our confidence in its ASIC share-gain story. On the regular server front, while the second CSP regular server client saw shipment weakness in April-May and is expected to remain at prior-year levels throughout 2Q26, the primary CSP regular server client delivered stronger-than-expected results, maintaining its nearly two-fold YoY shipment volume growth guidance for 2026E, in line with prior expectations. The lower-than-expected contribution from the second CSP regular server, which typically carries high margins, creates headwinds for 2Q26 gross margin. However, this is partially offset by the ramp-up in Vietnam production, where costs are c.20% lower, providing margin accretion. We slightly trim our 2Q26E gross margin to reflect this mix shift, but we still expect a QoQ improvement.
Business outlook. According to our supply chain checks, GB300 demand improved in 2Q26, partly due to delays in VR generation. Nonetheless, Nan Juen's own VR shipment schedule remains on track, targeting late-3Q26 shipments to its primary CSP customer. We view the current rail kit dynamics as a timing adjustment rather than a share loss story. On ASIC, the verified second vendor status by the CSP further solidifies our conviction; we maintain our 20-30% supply share assumption for this generation of ASIC in 2H26E and 2027E. While regular server shipments face near-term headwinds from material constraints, monthly shipment levels have remained resilient. We are closely monitoring a potential demand recovery in 2H26, which could serve as an earnings catalyst for Nan Juen. Combined with the structural margin improvement from Vietnam, a regular server rebound could push gross margins above our current estimates, reinforcing our positive view on the stock.
What we recommend: We lower our 2026E EPS by 0.2% but raise our 2027-28E EPS by c.1% to factor in the latest positive updates in ASIC. We reaffirm our Buy (1) rating and 12M TP of TWD1,022, based on a PER of 36x (vs. its past-3-year range of 11-90x), applied to our 4-quarter forward EPS forecast. Key downside risk: worse-than-expected AI server demand.
How we differ: Our 2027-28E EPS are 1-20% above Bloomberg consensus, likely as we are more positive on Nan Juen's revenue outlook.
30 June 2026
Daiwa
5
3
2
1
→
Buy
Allan Wang (886) 2 8758 6249 allan.wang@daiwacm-cathay.com.tw
Sheng Cheng (886) 2 8758 6253 sheng.cheng@daiwacm-cathay.com.tw
Forecast revisions (%)
| Year to 31 Dec | 26E | 27E | 28E |
|---|---|---|---|
| Revenue change | (2.5) | (0.6) | 0.7 |
| Net profit change | (0.2) | 0.6 | 0.9 |
| Core EPS (FD) change | (0.2) | 0.6 | 0.9 |
Source: Daiwa forecasts
Share price performance
| 12-month range | 170.50-805.00 |
|---|---|
| Market cap (USDbn) | 1.50 |
| 3m avg daily turnover (USDm) | 25.45 |
| Shares outstanding (m) | 70 |
| Major shareholder Ho-Ying | lnvestment Co., Ltd. (12.6%) |
Financial summary (TWD)
| Year to 31 Dec | 26E | 27E | 28E |
|---|---|---|---|
| Revenue (m) | 4,220 | 7,376 | 8,245 |
| Operating profit (m) | 1,439 | 3,129 | 3,904 |
| Net profit (m) | 1,185 | 2,507 | 3,127 |
| Core EPS (fully-diluted) | 17.006 | 35.983 | 44.880 |
| EPS change (%) | 220.2 | 111.6 | 24.7 |
| Daiwa vs Cons. EPS (%) | 0.8 | 20.1 | 0.9 |
| PER (x) | 40.3 | 19.0 | 15.3 |
| Dividend yield (%) | 0.4 | 1.3 | 2.5 |
| DPS | 2.7 | 9.0 | 17.0 |
| PBR (x) | 11.5 | 7.9 | 6.0 |
| EV/EBITDA (x) | 27.5 | 13.3 | 10.3 |
| ROE (%) | 32.5 | 49.3 | 44.7 |
Source: FactSet, Daiwa forecasts
Nan Juen International (6584 TT): 30 June 2026
Nan Juen: Daiwa revenue and earnings forecasts revisions vs. the consensus
| 2026E | 2026E | 2026E | 2027E | 2027E | 2027E | 2028E | 2028E | 2028E | |
|---|---|---|---|---|---|---|---|---|---|
| (TWDm) | Previous | New | Consensus | Previous | New | Consensus | Previous | New | Consensus |
| Revenue | 4,327 | 4,220 | 4,076 | 7,417 | 7,376 | 6,271 | 8,190 | 8,245 | 8,190 |
| Diff (%) | -2.5% | 3.5% | -0.6% | 17.6% | 0.7% | 0.7% | |||
| Gross Margin (%) | 45.4% | 46.1% | 44.6% | 53.8% | 54.3% | 52.7% | 58.9% | 59.1% | 58.9% |
| Operating profit | 1,442 | 1,439 | 1,414 | 3,111 | 3,129 | 2,576 | 3,869 | 3,904 | 3,869 |
| Op Margin (%) | 33.3% | 34.1% | 34.7% | 41.9% | 42.4% | 41.1% | 47.2% | 47.3% | 47.2% |
| Net profit | 1,187 | 1,185 | 1,175 | 2,492 | 2,507 | 2,087 | 3,098 | 3,126 | 3,098 |
| EPS (TWD) | 17.04 | 17.00 | 16.87 | 35.78 | 35.98 | 29.96 | 44.48 | 44.88 | 44.47 |
| Diff (%) | -0.2% | 0.8% | 0.6% | 20.1% | 0.9% | 0.9% |
Source: Bloomberg, Daiwa forecasts
Nan Juen: quarterly and annual P&L statement
| 2026E | 2026E | 2026E | 2026E | 2027E | 2025 | 2026E | 2027E | 2028E | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (TWDm) | 1Q | 2QE | 3QE | 4QE | 1QE | 2QE | 3QE | 4QE | ||||
| Net revenue | 867 | 856 | 1,132 | 1,365 | 1,673 | 1,914 | 1,916 | 1,873 | 2,433 | 4,220 | 7,376 | 8,245 |
| COGS | -507 | -492 | -599 | -676 | -793 | -855 | -868 | -856 | -1,582 | -2,274 | -3,372 | -3,376 |
| Gross profit | 360 | 364 | 532 | 689 | 881 | 1,059 | 1,048 | 1,017 | 851 | 1,946 | 4,004 | 4,869 |
| Operating expenses | -105 | -103 | -136 | -164 | -201 | -226 | -224 | -225 | -367 | -507 | -875 | -965 |
| Operating profit | 255 | 261 | 397 | 525 | 680 | 833 | 824 | 792 | 484 | 1,439 | 3,129 | 3,904 |
| Non-operating profit | 39 | 0 | 1 | 2 | 1 | 1 | 1 | 1 | 48 | 42 | 4 | 4 |
| Pre-tax profit | 294 | 262 | 398 | 527 | 681 | 834 | 825 | 793 | 532 | 1,481 | 3,133 | 3,908 |
| Income taxes | -59 | -52 | -80 | -105 | -136 | -167 | -165 | -159 | -162 | -296 | -626 | -781 |
| Net profit | 235 | 209 | 318 | 422 | 545 | 667 | 660 | 635 | 370 | 1,185 | 2,507 | 3,126 |
| Net EPS (TWD) | 3.38 | 3.01 | 4.57 | 6.05 | 7.82 | 9.58 | 9.47 | 9.11 | 5.31 | 17.00 | 35.98 | 44.88 |
| Operating Ratios | ||||||||||||
| Gross margin | 41.6% | 42.5% | 47.0% | 50.5% | 52.6% | 55.3% | 54.7% | 54.3% | 35.0% | 46.1% | 54.3% | 59.1% |
| Operating margin | 29.5% | 30.5% | 35.0% | 38.5% | 40.6% | 43.5% | 43.0% | 42.3% | 19.9% | 34.1% | 42.4% | 47.3% |
| Pre-tax margin | 34.0% | 30.6% | 35.1% | 38.6% | 40.7% | 43.6% | 43.0% | 42.4% | 21.9% | 35.1% | 42.5% | 47.4% |
| Net margin | 27.1% | 24.5% | 28.1% | 30.9% | 32.6% | 34.9% | 34.4% | 33.9% | 15.2% | 28.1% | 34.0% | 37.9% |
| YoY (%) | ||||||||||||
| Net revenue | 74% | 42% | 82% | 92% | 93% | 124% | 69% | 37% | 26% | 73% | 75% | 12% |
| Gross profit | 139% | 86% | 134% | 148% | 145% | 191% | 97% | 47% | 69% | 129% | 106% | 22% |
| Operating profit | 255% | 169% | 194% | 192% | 166% | 219% | 108% | 51% | 138% | 197% | 117% | 25% |
| Pre-tax profit | 259% | 466% | 143% | 120% | 131% | 219% | 107% | 50% | 121% | 178% | 112% | 25% |
| Net profit | 260% | 2399% | 144% | 154% | 132% | 219% | 107% | 50% | 92% | 220% | 112% | 25% |
| QoQ (%) | ||||||||||||
| Net revenue | 22% | -1% | 32% | 21% | 23% | 14% | 0% | -2% | ||||
| Gross profit | 30% | 1% | 46% | 29% | 28% | 20% | -1% | -3% | ||||
| Operating profit | 42% | 2% | 52% | 32% | 29% | 23% | -1% | -4% | ||||
| Pre-tax profit | 23% | -11% | 52% | 33% | 29% | 23% | -1% | -4% | ||||
| Net profit | 42% | -11% | 52% | 33% | 29% | 23% | -1% | -4% |
Source: Company, Daiwa forecasts
Nan Juen: 1-year-forward PER bands
Source: TEJ, Daiwa forecasts
Nan Juen: revenue breakdown
Source: Company, Daiwa forecasts
Daiwa
Financial summary
Key assumptions
| Year to 31 Dec | 2021 | 2022 | 2023 | 2024 | 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Server rail kit revenue | 0 | 479.7 | 357.6 | 712.1 | 1,327.1 | 3,052.2 | 6,208.5 | 7,077.6 |
| Regular server rail kit revenue | 0 | 479.7 | 357.6 | 712.1 | 1,270.6 | 2,374.9 | 4,244.6 | 4,609.2 |
| AI server rail kit revenue | 0 | 0 | 0 | 0 | 56.6 | 677.3 | 1,963.9 | 2,468.4 |
Profit and loss (TWDm)
| Year to 31 Dec | 2021 | 2022 | 2023 | 2024 | 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Regular server railkit sales | 0 | 480 | 358 | 712 | 1,271 | 2,375 | 4,245 | 4,609 |
| AI server railkit sales | 0 | 0 | 0 | 0 | 57 | 677 | 1,964 | 2,468 |
| Other Revenue | 2,041 | 1,519 | 967 | 1,212 | 1,106 | 1,168 | 1,168 | 1,168 |
| Total Revenue | 2,041 | 1,999 | 1,324 | 1,924 | 2,433 | 4,220 | 7,376 | 8,245 |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS | (1,669) | (1,636) | (1,085) | (1,422) | (1,582) | (2,274) | (3,372) | (3,376) |
| SG&A | (208) | (230) | (191) | (237) | (301) | (424) | (728) | (800) |
| Other op.expenses | (31) | (48) | (38) | (62) | (66) | (83) | (147) | (165) |
| Operating profit | 133 | 85 | 9 | 203 | 484 | 1,439 | 3,129 | 3,904 |
| Net-interest inc./(exp.) | (22) | (22) | (17) | (17) | (12) | (10) | (9) | (9) |
| Assoc/forex/extraord./others | (6) | 110 | 12 | 54 | 60 | 52 | 13 | 12 |
| Pre-tax profit | 105 | 172 | 5 | 240 | 532 | 1,481 | 3,133 | 3,908 |
| Tax | (18) | (42) | 4 | (48) | (162) | (296) | (626) | (781) |
| Min. int./pref. div./others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit (reported) | 87 | 131 | 8 | 192 | 370 | 1,185 | 2,507 | 3,127 |
| Net profit (adjusted) | 87 | 131 | 8 | 192 | 370 | 1,185 | 2,507 | 3,127 |
| EPS (reported)(TWD) | 1.653 | 2.234 | 0.127 | 2.914 | 5.311 | 17.006 | 35.983 | 44.880 |
| EPS (adjusted)(TWD) | 1.653 | 2.234 | 0.127 | 2.914 | 5.311 | 17.006 | 35.983 | 44.880 |
| EPS (adjusted fully-diluted)(TWD) | 1.653 | 2.234 | 0.127 | 2.914 | 5.311 | 17.006 | 35.983 | 44.880 |
| DPS (TWD) | 0.000 | 1.000 | 1.200 | 1.005 | 1.500 | 2.650 | 9.000 | 17.000 |
| EBIT | 133 | 85 | 9 | 203 | 484 | 1,439 | 3,129 | 3,904 |
| EBITDA | 267 | 218 | 125 | 322 | 628 | 1,692 | 3,407 | 4,220 |
Cash flow (TWDm)
| Year to 31 Dec | 2021 | 2022 | 2023 | 2024 | 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Profit before tax | 105 | 172 | 5 | 240 | 532 | 1,481 | 3,133 | 3,908 |
| Depreciation and amortisation | 134 | 133 | 116 | 119 | 143 | 253 | 278 | 316 |
| Tax paid | (18) | (42) | 4 | (48) | (162) | (296) | (626) | (781) |
| Change in working capital | (238) | 64 | (10) | (133) | (251) | 271 | (354) | (84) |
| Other operational CF items | 57 | 43 | (34) | 117 | 78 | 0 | 0 | 0 |
| Cash flow from operations | 40 | 370 | 80 | 295 | 341 | 1,709 | 2,431 | 3,359 |
| Capex | (68) | (70) | (29) | (113) | (122) | (316) | (479) | (247) |
| Net (acquisitions)/disposals | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other investing CF items | (7) | (4) | (3) | (21) | (9) | 0 | 0 | 0 |
| Cash flow from investing | (76) | (74) | (32) | (134) | (131) | (316) | (479) | (247) |
| Change in debt | 226 | (383) | (328) | 111 | 84 | 0 | 0 | 0 |
| Net share issues/(repurchases) | 45 | 171 | 413 | 0 | 0 | 0 | 0 | 0 |
| Dividends paid | 0 | (52) | (70) | (66) | (99) | (185) | (627) | (1,184) |
| Other financing CF items | (23) | (24) | (21) | (285) | (47) | 0 | 0 | 0 |
| Cash flow from financing | 248 | (289) | (7) | (240) | (62) | (185) | (627) | (1,184) |
| Forex effect/others | (0) | 1 | 0 | (3) | (2) | 0 | 0 | 0 |
| Change in cash | 212 | 9 | 42 | (82) | 145 | 1,207 | 1,325 | 1,928 |
| Free cash flow | (29) | 300 | 52 | 181 | 219 | 1,392 | 1,952 | 3,112 |
Source: FactSet, Daiwa forecasts
Nan Juen International (6584 TT): 30 June 2026
Daiwa
Financial summary continued …
Balance sheet (TWDm)
| Year to 31 Dec | 2021 | 2022 | 2023 | 2024 | 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investment | 363 | 384 | 414 | 327 | 496 | 1,703 | 3,028 | 4,955 |
| Inventory | 330 | 288 | 262 | 298 | 487 | 498 | 739 | 740 |
| Accounts receivable | 432 | 280 | 297 | 436 | 536 | 405 | 707 | 791 |
| Other current assets | 40 | 13 | 12 | 23 | 57 | 57 | 57 | 57 |
| Total current assets | 1,164 | 965 | 984 | 1,084 | 1,577 | 2,664 | 4,531 | 6,543 |
| Fixed assets | 2,530 | 2,492 | 2,430 | 2,454 | 2,464 | 2,528 | 2,729 | 2,660 |
| Goodwill & intangibles | 7 | 7 | 7 | 9 | 11 | 11 | 11 | 11 |
| Other non-current assets | 58 | 50 | 78 | 394 | 334 | 334 | 334 | 334 |
| Total assets | 3,759 | 3,513 | 3,499 | 3,941 | 4,386 | 5,537 | 7,606 | 9,549 |
| Short-term debt | 428 | 253 | 419 | 117 | 0 | 0 | 0 | 0 |
| Accounts payable | 305 | 185 | 161 | 204 | 242 | 392 | 582 | 583 |
| Other current liabilities | 319 | 335 | 259 | 301 | 411 | 411 | 411 | 411 |
| Total current liabilities | 1,052 | 773 | 839 | 622 | 653 | 804 | 993 | 994 |
| Long-term debt | 1,388 | 1,166 | 696 | 1,027 | 552 | 552 | 552 | 552 |
| Other non-current liabilities | 11 | 4 | 39 | 61 | 37 | 37 | 37 | 37 |
| Total liabilities | 2,451 | 1,942 | 1,573 | 1,710 | 1,243 | 1,393 | 1,583 | 1,584 |
| Share capital | 525 | 585 | 656 | 660 | 697 | 697 | 697 | 697 |
| Reserves/R.E./others | 784 | 986 | 1,269 | 1,571 | 2,447 | 3,447 | 5,327 | 7,269 |
| Shareholders' equity | 1,309 | 1,571 | 1,925 | 2,231 | 3,144 | 4,144 | 6,023 | 7,965 |
| Minority interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total equity & liabilities | 3,759 | 3,513 | 3,499 | 3,941 | 4,386 | 5,537 | 7,606 | 9,549 |
| EV | 49,173 | 48,755 | 48,420 | 48,537 | 47,777 | 46,569 | 45,245 | 43,317 |
| Net debt/(cash) | 1,453 | 1,035 | 700 | 817 | 56 | (1,151) | (2,475) | (4,403) |
| BVPS (TWD) | 24.931 | 26.864 | 29.333 | 33.826 | 45.126 | 59.480 | 86.460 | 114.338 |
Key ratios (%)
| Year to 31 Dec | 2021 | 2022 | 2023 | 2024 | 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Sales (YoY) | 40.2 | (2.1) | (33.7) | 45.3 | 26.4 | 73.4 | 74.8 | 11.8 |
| EBITDA (YoY) | 137.5 | (18.6) | (42.5) | 157.3 | 94.8 | 169.4 | 101.4 | 23.9 |
| Operating profit (YoY) | 3,825.2 | (36.2) | (88.8) | 2,042.9 | 138.1 | 197.0 | 117.5 | 24.8 |
| Net profit (YoY) | n.a. | 50.6 | (93.6) | 2,208.0 | 92.5 | 220.2 | 111.6 | 24.7 |
| Core EPS (fully-diluted) (YoY) | n.a. | 35.1 | (94.3) | 2,197.0 | 82.2 | 220.2 | 111.6 | 24.7 |
| Gross-profit margin | 18.2 | 18.1 | 18.0 | 26.1 | 35 | 46.1 | 54.3 | 59.1 |
| EBITDA margin | 13.1 | 10.9 | 9.5 | 16.8 | 25.8 | 40.1 | 46.2 | 51.2 |
| Operating-profit margin | 6.5 | 4.2 | 0.7 | 10.6 | 19.9 | 34.1 | 42.4 | 47.3 |
| Net profit margin | 4.3 | 6.5 | 0.6 | 10.0 | 15.2 | 28.1 | 34.0 | 37.9 |
| ROAE | 7.0 | 9.1 | 0.5 | 9.2 | 13.8 | 32.5 | 49.3 | 44.7 |
| ROAA | 2.5 | 3.6 | 0.2 | 5.2 | 8.9 | 23.9 | 38.1 | 36.5 |
| ROCE | 4.5 | 2.8 | 0.3 | 6.3 | 13.7 | 34.3 | 55.5 | 51.7 |
| ROIC | 4.1 | 2.4 | 0.4 | 5.7 | 10.8 | 37.2 | 76.5 | 87.9 |
| Net debt to equity | 111.0 | 65.9 | 36.4 | 36.6 | 1.8 | n.a. | n.a. | n.a. |
| Effective tax rate | 17.0 | 24.2 | 0.0 | 20.0 | 30.4 | 20.0 | 20.0 | 20.0 |
| Accounts receivable (days) | 61.4 | 65.1 | 79.5 | 69.5 | 72.9 | 40.7 | 27.5 | 33.2 |
| Current ratio (x) | 1.1 | 1.2 | 1.2 | 1.7 | 2.4 | 3.3 | 4.6 | 6.6 |
| Net interest cover (x) | 6.0 | 3.8 | 0.6 | 12.1 | 38.9 | 149.8 | 355.9 | 453.4 |
| Net dividend payout | n.a. | 60.5 | 53.7 | 792.1 | 51.5 | 49.9 | 52.9 | 47.2 |
| Free cash flow yield | n.a. | 0.6 | 0.1 | 0.4 | 0.5 | 2.9 | 4.1 | 6.5 |
Source: FactSet, Daiwa forecasts
Company profile
Founded in 1984, Nan Juen International Co., LTD. is a Taiwan-based slide and rail kit manufacturer headquartered in Taoyuan City. The company began its operations as a producer of furniture and kitchen rail kits, leveraging its mechanical engineering expertise to gradually expand its product portfolio. Building on decades of slide mechanism design experience, Nan Juen extended its capabilities into the server rail kit market, which has since become the primary growth driver of the business.
Nan Juen's current product portfolio spans two core categories: server rail kits and others (including kitchen rail kits, office furniture rail kits, etc.). Within the server rail kit segment, the company produces both regular server rail kits and AI server rail kits, serving major CSPs globally. The company has been listed on the Taiwan Stock Exchange under the ticker 6584 TT.
Nan Juen International (6584 TT): 30 June 2026
Daiwa
ESG analysis
ESG risks
| Risks | Management | Analyst comments | |
|---|---|---|---|
| G | Executive/board quality | 2 | Nan Juen's board consists of 9 directors, including 4 independent directors. The total number of directors is slightly lower than that of other listed companies in our coverage. Nan Juen held 6 board meetings in 2024; the actual attendee rate was 98%. Most of the board members are Nan Juen's founder's family members, which we believe presents downside risks to independent governance. However, the independent directors have diversified backgrounds with expertise in accounting and management, a positive for the board's quality. |
| Capital management | 2 | Nan Juen declared a DPS of TWD1.5 in 2024, representing a payout ratio of 51%. The payout ratio was in line with the level of 50-60% during 2021-24. As a rail kit manufacturer, Nan Juen is set to deliver solid revenue growth and FCF over our forecast horizon amidst strong ASP increase in the server rail kit market. | |
| Related party & transaction | 1 | The company did not report any related-party transactions in 2025. We see limited risks from related-party transactions. | |
| S | Product quality & safety | 2 | Nan Juen has implemented a Project Management Information System (PMIS) to streamline R&D workflows and enhance cross-departmental collaboration. The company is further planning to introduce a Product Lifecycle Management (PLM) system, integrating the full product lifecycle from concept through to manufacturing and after-sales service. Beyond operational efficiency, the PLM adoption reflects Nan Juen's commitment to responsible product stewardship, enabling better oversight of material consumption and environmental impact across its operations. The company continues to advance its green product programme. Based on 2024 shipments, its carbon emissions were 4,490 tonnes of CO2e (vs. 3,794 tonnes in 2023), but with a lower CO2e per TWD1m revenue of 2.33 tonnes (vs. 2.87 tonnes in 2024), underscoring progress in lowering the environmental footprint of its products. |
| S | Product design & lifecycle management | 2 | Nan Juen is actively reducing its greenhouse gas emissions under a core commitment to net- zero carbon operations, aligned with Taiwan's 2050 net-zero emission policy. The company has adopted ISO 14064-1 GHG inventory standards and maintains ISO 14001:2015 environmental management system certification, providing a structured framework for monitoring and improving energy use and emissions across its operations. Practical measures include regular audits of high-energy-consuming equipment, employee sustainability training, and collaboration with supply chain partners on green procurement. Progress is tracked through internal audits and external verification, with findings reviewed periodically to refine the company's decarbonisation strategy. |
| Supply chain management |
Note: Management score represents a company's ability to manage/benefit from certain ESG topics. The scores range from 1 to 3, with 1 being the strongest.
Update Date: 17 Apr 2026
Source: Daiwa, Company
Nan Juen International (6584 TT): 30 June 2026
Daiwa