Taiwan’s stainless steel producer Tang Eng Iron Works Co., Ltd.’s Chairman Chao Jian-Tsai announced at the annual shareholders' meeting that the company foresees a tough year in 2025 due to global stainless steel overcapacity, geopolitical conflicts, trade barriers, and climate change.

In 2024, Tang Eng's production and sales volumes increased, but the company reported an after-tax net loss of NT$772 million, an improvement from 2023. This was due to low demand, increased costs, and competition from low-priced Chinese imports.

Despite a challenging second half of 2024, Tang Eng raised order intake and production utilization, leading to the highest shipment and production volumes in nearly three years.

For 2025, Tang Eng plans to expand sales channels, increase capacity utilization, optimize procurement and production, and actively manage assets to improve overall performance and ensure sustainable operations.