FCS (6603) CEO Alan Wang said that the plastic injection molding industry covers food, clothing, housing, transportation, education and entertainment, and FCS will continue to create high value-added products, open up more cooperation opportunities for customers in different industries according to the globalized and diversified business strategies, and maintain a positive attitude about the future outlook. The following is a transcript of the interview: 

Economic Daily News: What is your opinion on the development of the plastic injection molding industry at present? 
CEO Alan Wang: Various industries are actively promoting lightweight product design, including "replacing steel with plastic", "replacing wood with plastic", "replacing glass with plastic", and this is especially obvious in the automotive industry. 
The European Union has comprehensively raised its 2030 carbon emission reduction target, which is expected to form a major catalyst for the electric vehicle industry. It is expected that the sales volume of new energy passenger vehicles in mainland China will reach 8.5 million in 2023, with an annual growth rate of approximately 30%, which indicates that the booming new energy vehicle market has huge business opportunities. Moreover, new energy vehicles have clear demand for lightweight to improve the endurance. 
As reported by Nomura Research Institute, steel, which accounts for more than 70% of automotive raw materials and is expected to fall to approximately 62% by 2025, will be replaced by composite plastics. It can reduce the weight of components by 40%, and less energy will be used in plastic injection molding. In order to achieve the goal, auto manufacturers will promote the utilization rate of plastic materials in the parts of a single vehicle. 

On the one hand, benefiting from the increasing demand for smart machinery in the fields of information and communications, semiconductors, electric vehicles, and smart manufacturing, and the support of governments, it is expected that the global smart machinery market will continue to expand. For example, Tesla's gigafactory has about 200 machines of different sizes and levels of complexity, and the manufacturing process aims to make full use of intelligence to improve factory production efficiency. 
With greater efforts invested in strengthening the R&D energy, quality assurance system and flexible adjustment of production capacity allocation in Taiwan Operations Headquarters, FCS is raising the competition threshold of the industry through differentiated services, and grabbing more market share of customized plastic injection molding equipment with "smart integration" and "lightweight demand". It has built production bases to maintain good capacity utilization to bring future operations to a higher level. 

Economic Daily News: What is the medium and long-term blueprint for FCS? 
CEO Alan Wang: FCS will focus on channel, production, research and development, information, talent and other dimensions. In terms of channel, we currently have 30 direct sales bases and 21 agent bases worldwide, and we will first expand the marketing channels in Vietnam, Indonesia and India in the next three years. 
In terms of production, we have set up the fourth production base and fifth production base in India and Hangzhou Bay, Ningbo, Chinese mainland. In addition to mass production in Ningbo in May 2023, "smart and lean production" will be optimized in Taiwan. 
At present, FCS occupies a leading position in Taiwan's plastic injection molding machine market, ranking top five in Greater China and 20th in the world. In the medium and long-term plans, FCS's goal is to reach a new high of NTD 4.605 billion in operating revenue in 2022, and we now expect to bring it to NTD 6 billion in 2025. 

Economic Daily News: How do you improve R&D innovation and customization capabilities? 
CEO Alan Wang: In R&D innovation, creativity is 1% inspiration and 99% perspiration. Many records of great inventions focus their success on the last flash of inspiration. In fact, success is attributed to years of exploration and efforts. Many studies were later proven to be worthless ideas, but the accumulation of failures is a necessary way to approach success step by step. 
FCS encourages employees to participate in making proposals, awards those who make good proposals, and takes a market-oriented approach to achieve innovation goals, focuses on customer needs for information collection, analyzes market competitors, formulates development strategic plans, evaluates core capabilities, etc., to achieve target selection in a systematic way, and creates target products with core competitiveness. 

Economic Daily News: How do you recruit, cultivate and retain talent?  
CEO Alan Wang: In 2008, in collaboration with National Kaohsiung First University of Science and Technology, FCS set up the "FCS PIM Laboratory".
Through the PIM Laboratory, professors of the university are engaged as laboratory consultants, and the teachers recruit masters and doctors. Through scholarships, and relevant experience, they help graduate students who want to enter the industry to develop relevant interests, and carry out research and development through the machinery and simulation analysis software provided by FCS. 
Subsequently, the successful experience of the laboratory is copied and graduate students are recommended to work in FCS after graduation. Customer needs are systematically collected and brought back to FCS for analysis. Therefore, we can help customers test production lines to meet the production conditions of their factories. 
A series of connected service solutions has led to the emergence of smart factories. With advanced deployment, FCS cultivates senior R&D talented persons who can start to work after graduation. While achieving job inheritance, we can also improve customer stickiness. 

Source:Economic Daily News

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