Corporate Sustainability Rreport

Message from President & CEO

Message from the management

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In light of the unexpected turn of events around the world in recent years, including the trade war between China and U.S. in 2019, Brexit, the recession of the European automobile market and so forth, various factors have all impacted YOKE’s performance in the international market. The outbreak of COVID-19, which took the entire world by surprise and radically changed the economies and lives of people in 2020, had further affected YOKE’s operational performance and severely limited our growth margin. Our operational revenue for 2020 came to NT$ 2.367 billion - a significant decrease of 23.16% compared to 2019. In fact, the figures fell back to what we had for 2017. Nevertheless, despite such dire circumstances and challenges before us, I am still confident in YOKE’s management, which will surely lead all our colleagues through this difficult time. And while we still can’t say how long it will take for things to go back the way they have been in terms of our operation, for the time being, I have reminded the management to never resort to decisions that may damage employees’ rights, such as asking them to take unpaid leaves. I believe the clouds will clear and the shine will shine once more. As our team picks itself up and prepares itself for the challenges ahead, we shall press forward towards the goals we have set for 2028.

Operation digitization is a crucial component of operation for all businesses today. For more than ten years, YOKE has been actively introducing digitization to various operational processes, including ERP, CRM, PLM and so forth. At the same time, we have also established our business intelligence system and taken steps to monitor our operational status in real-time. Presently, the Company has the capability to settle the account of any month before the 1st of the following month. In addition, with regards to our products, we have also completed our YOKE-SMART RFID project that began in 2018 to incorporate RFID/SupraTag in our 8 series products, thereby enabling customers to use 3rd-party system/apps and manage various aspects of hooks such as duration of use, inspection scheduling and method of inspection in a systematic manner. As of 2020, among all 664 products in the 66 series of YP, Grade 80 and Grade 100 products, they made up to 9% of our offerings in the 8 series.

Ever since our initiation, the Company has always been focused on manufacturing quality products and safeguarding our employees' physical and mental well-being. Not only that, we have also worked to achieve mutual growth with our suppliers without realizing that our approaches had in fact been sustainable in nature.  For 2021, with the trends of ESG becoming even more prevalent, YOKE shall stay true to its original aspirations and continue to create products of the finest quality, foster a friendly work environment while actively assisting our suppliers in pursuing continual improvement so that we can kickstart new momentum for growth and breakthrough our existing bottleneck in operation. Our vision at YOKE is to become a relevant player with stable profit margins and steady growth in the global market for industrial safety hooks. And we shall continue to expand the market for industrial hoist hooks and protective safety gear while demonstrating the compatibility between “safety” and sustainability” to the world as our goals for the future.

Despite the signs of alleviation we have seen thus far in terms of the COVID-19 pandemic in 2021, we would like to remind all our stakeholders of our fundamental belief: “Safety is our first priority. Health is also a priority.” In order for us to work together and achieve our goal for sustainable operation, we must stay safe and stay healthy. “

The COVID-19 pandemic in 2020 not only disrupted operational planning for countless companies but also put their crisis management to the test. The first confirmed incident of COVID-19 in Taiwan was reported on January 21, 2020. YOKE immediately hired additional security personnel to take the temperature of everyone who entered our premises. When work resumed after the Chinese New Year holidays, we asked all employees to fill out their self-health assessment report online. Later in February 2020, the Company launched its first phase of epidemic prevention measure by forbidding our sales representatives from traveling or visiting customers in high-risk countries. YOKE launched the second phase of epidemic prevention measure and initiated on-site drills to implement split operation by region so as to emulate the most severe circumstances in terms of the pandemic outbreak and various management measures that YOKE shall adopt accordingly.

With regards to our operational management, the Company has inventoried its fixed operating costs to ensure smooth fund turnover for up to two years while diligently controlling the costs for all departments. In addition, we have also informed our suppliers to adjust their inventory levels in light of the impacts from COVID-19. When an enterprise faces the stress for survival, it is also the moment for said enterprise to demonstrate its resilience. Here at YOKE, everyone is poised to respond to any changes in our operation with utmost prudence and proceed with all relevant planning and control.

Crises are usually opportunities to turn things around. This means we cannot afford to stay idle and passively wait for the pandemic to gradually subside and the overall economy to return to normal when it comes to corporate operation. Here at YOKE, we perceive the post-pandemic circumstances and environment as new opportunities for growth and whilst we wait for the situation to deescalate, we have launched our SAP ERP cloud upgrade, reviewed 716 existing processes, discussed 589 issues and improved 89 workflows to integrate relevant procedures in place with printed documentation and related off-line operations.

On top of that, given the possibility of a speedy market recovery that may happen at any moment and potential new products we could develop for markets in the future, we have accelerated the development of new products by developing over 200 new products in 2020. In light of potential product demands in future markets, we also built a backup inventory of popular products. At the same time, our factory still had spare capacities so that YOKE will be able to accommodate the additional market demand.

ESG came into prominence in 2020 and given the regulations promulgated by competent authorities, continual demands from our customers and the investment demands from institutional investors, ESG shall play a crucial role in relevant decision-making processes for corporate operations in the future. It has been five years since YOKE formally promoted CSR and transitioned to the current trend of ESG. While we may have had modest achievements during the past five years, with the prevalent trend for sustainability, YOKE may be overtaken by other businesses that continue to promote ESG if we were to stop in our track. And as such, we have embraced the concept of “advance deployment,” which has been one of the most popular buzz phrases in 2020 as our inspiration, as we strive to achieve advance deployment in all aspects of sustainable development. This will enable YOKE to become a company that all stakeholders will acknowledge. By becoming an exemplary enterprise that continues to promote sustainable operations, YOKE will continue to serve as a benchmark and reach new heights.

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Safety is our first priority and
core CSR value


39, 33rd Road, Taichung Industrial Park, Taichung 407, Taiwan

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+886-4-2350-8088 

#39, 33rd Road,Taichung Industrial Park, Taichung 407, Taiwan