Source: Official annual reports and disclosures. Derived figures calculated by FirmsWorld.
Source: TCC Group Holdings CO., LTD. 2025 Annual Report (Published March 24, 2026).
Table of Contents
- 1. Quick Facts / Company Snapshot
- 2. Company Overview
- 3. Business Segments
- 4. History and Evolution
- 5. Products and Services
- 6. Brand Portfolio
- 7. Geographical Presence
- 8. Profit and Loss
- 9. Balance Sheet
- 10. Cash Flow
- 11. Board of Directors and Leadership Team
- 12. Subsidiaries, Associates, Joint Ventures
- 13. Other Investments (Including Minority / Portfolio Holdings)
- 14. Physical Properties
- 15. Founders
- 16. Parent
- 17. Investments and Capital Expenditure Plans
- 18. Shareholding Pattern
- 19. Future Strategy
- 20. Key Strengths
- 21. Key Challenges and Risks
- 22. Conclusion and Strategic Outlook
Quick Facts / Company Snapshot
| Data Metric | Company Disclosed Fact / Metric Value |
| Official Company Name | TCC Group Holdings CO., LTD. |
| Stock Ticker & Exchange | TWSE: 1101 |
| Corporate Anniversary | 80th Anniversary (Founded 1946) |
| Chairman & Group CEO | Nelson An-ping Chang |
| Director & President | Roman Cheng |
| Chief Financial Officer | Randy Yu |
| Consolidated Revenue (FY 2025) | NT$149.8 billion (NT$149,804,135 thousand) |
| Consolidated Gross Profit Margin (FY 2025) | 18.4% |
| Net Income (Loss) Attributable to Shareholders | (NT$11.618 billion) |
| Earnings (Loss) Per Share (EPS) | NT$(1.60) |
| Net Cash Provided by Operating Activities | NT$33.192 billion |
| International Long-Term Credit Rating | “BBB-” (Outlook: Stable) |
| Independent Attesting CPA Firm | Deloitte Taiwan (CPAs: Ya-Ling Wong, Hui-Min Huang) |
| Consolidated Greenhouse Gas Emissions (FY 2025) | 43,237,015 tons $\text{CO}_2\text{e}$ (Scope 1 + Scope 2) |
| Consolidated Carbon Intensity (FY 2025) | 288.6 tons $\text{CO}_2\text{e}$ / NT$ million |
| Global Energy Storage Deployment | Approximately 4.0 GWh (commissioned and under construction) |
| Taiwan Electricity Trading Market Share (E-dReg) | 19.1% (195 MW deployed as of February 2026) |
| European EV Charging Network Presence (Atlante) | >1,300 charging stations / >5,300 charging points |
| Approved Patent Portfolio (as of Dec 31, 2025) | 263 approved patents (137 applications pending) |
| Approved Trademark Portfolio (as of Dec 31, 2025) | 841 approved trademarks (34 applications pending) |
Source: TCC Group Holdings CO., LTD. 2025 Annual Report.
Company Overview
TCC Group Holdings CO., LTD. (“TCC”), listed on the Taiwan Stock Exchange under stock code 1101, stands as one of Taiwan’s foundational industrial institutions. Celebrating its 80th anniversary in 2026, the corporation has evolved from a post-war domestic cement supplier into an international conglomerate spanning low-carbon building materials, industrial waste recycling, renewable energy generation, energy storage infrastructure, and advanced battery technology.
- Eighty-Year Industrial Heritage: Built in an era of post-war turbulence and scarcity, TCC turned mountain limestone into civic infrastructure and urban foundations across Taiwan.
- Guiding Corporate Philosophy: Guided by the historic principles of “Humility, harmony, sincerity, and trust,” the Group operates under its unified Total Care Commitment.
- Global Operational Footprint: Operations span Europe, Asia, and Africa, with strategic regional hubs in Taiwan, Mainland China, Portugal, Tรผrkiye, and Cameroon.
- Net-Zero Industrial Transformation: The company has transitioned from volume-driven commodity cement to engineered material systems, green microgrids, and circular energy.
The Group is steering its industrial platform to align with global net-zero targets by 2050, adapting to regulatory developments such as the European Unionโs Carbon Border Adjustment Mechanism (CBAM) and Taiwan’s carbon fee structure. Management emphasizes that the era of artificial intelligence and electrification relies on physical infrastructure: data centers, advanced substations, reinforced power grids, and ports, all of which require durable, verifiable, low-carbon concrete.
In 2025, TCC navigated both domestic and international macroeconomic adjustments, recording consolidated revenue of NT$149.8 billion[cite: 1]. Despite operational headwinds and a one-off disaster loss resulting from a factory fire at its subsidiary Molie Quantum Energy Corporation, the Group maintained an investment-grade international credit rating of “BBB-” with a Stable outlook and generated NT$33.192 billion in operating cash flow.
TCC GROUP HOLDINGS CO., LTD.
(TWSE: 1101)
โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโผโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
โ โ โ
โโโโโโโดโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโดโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโดโโโโโโโโโโโโโโโ
โ LOW-CARBON BUILDING โ โ CIRCULAR ECONOMY & โ โ ENERGY TRANSITION & โ
โ MATERIALS โ โ RESOURCE RECOVERY โ โ INFRASTRUCTURE โ
โโโโโโโโโโโโโโโโโโโโโโโโโโค โโโโโโโโโโโโโโโโโโโโโโโโโโโค โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโค
โโข Portland Limestone โ โโข Kiln Co-processing โ โโข Green Energy Generation โ
โ Cement & Concrete โ โโข Demolition Recycling โ โ (Solar, Wind, Geothermal) โ
โโข Ultra-High Performanceโ โโข Alternative Fuels & โ โโข EnergyArk Storage & Grid โ
โ Concrete (UHPC) โ โ Raw Materials (AFR) โ โโข Atlante EV Fast-Charging โ
โโข Permeable Concrete โ โโข Industrial Slag/Waste โ โโข Molicel AI BBU & eVTOL โ
โโข Global Units: Cimpor, โ โ Treatment Services โ โ Aerospace Battery Tech โ
โ Oyak Cement, Taiwan โ โ โ โ โ
โโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
Business Segments
TCC Group Holdings organizes its core operations across multi-disciplinary business divisions engineered to create industrial symbiosis. Financial contributions by division are managed on a consolidated basis.
| Business Segment | Revenue Contribution (NT$) | % of Total Revenue | Operational Scope & Capabilities |
| Low-Carbon Building Materials | Not separately disclosed in the provided source | Not separately disclosed in the provided source | Manufacturing and marketing of Portland limestone cement, ready-mixed concrete, Ultra-High Performance Concrete (UHPC), and permeable concrete across Taiwan, Mainland China, Europe, and Africa. |
| Resource Circularity & Waste Co-Processing | Not separately disclosed in the provided source | Not separately disclosed in the provided source | Co-processing industrial hazardous and municipal solid waste in high-temperature cement kilns, processing construction demolition waste, and substituting virgin limestone with alternative raw materials. |
| Green Energy & Power Generation | Not separately disclosed in the provided source | Not separately disclosed in the provided source | Development and operation of solar photovoltaic systems, onshore wind power facilities, baseload geothermal power plants, and thermal power operations via Ho-Ping Power Company. |
| Global Energy Storage & Virtual Microgrids | Not separately disclosed in the provided source | Not separately disclosed in the provided source | Manufacturing proprietary UHPC EnergyArk cabinets, aggregating battery-to-grid (B2G) services, operating ancillary grid reserves (E-dReg/s-Reg), and building EV charging-storage microgrids (Atlante). |
| Advanced High-Power Battery Technologies | Not separately disclosed in the provided source | Not separately disclosed in the provided source | Specialized engineering of cylindrical lithium-ion batteries under the Molicel brand for AI data-center backup battery units (BBU) and electric vertical takeoff and landing (eVTOL) aircraft. |
Source: TCC Group Holdings CO., LTD. 2025 Annual Report.
Low-Carbon Building Materials Segment
The Low-Carbon Building Materials segment forms the operational anchor of the Group. The division produces Portland limestone cement, low-carbon ready-mixed concrete, Ultra-Low Carbon Concrete (ULCC), and Ultra-High Performance Concrete (UHPC).
- Volume Targets for Taiwan and Mainland China: Combined sales targeted at 38.12 million metric tons of cement and clinker, and 6.19 million cubic meters of ready-mixed concrete (Management target).
- Volume Targets for Europe and Tรผrkiye: Total sales targeted at 17.83 million metric tons of cement and clinker, and 8.75 million cubic meters of ready-mixed concrete (Management target).
- Domestic Market Penetration: In Taiwan, sales of Portland limestone cement concrete exceeded 3 million cubic meters in 2025.
- Decarbonization Certifications: Secured Taiwan’s inaugural Type III Environmental Product Declaration (EPD) dual certifications for Portland limestone cement (Heping and Su’ao Plants) and concrete (Taipei Plant).
Resource Circularity & Waste Co-Processing Segment
TCC utilizes its high-temperature rotary cement kilns to provide non-hazardous treatment and recycling solutions for municipal waste and industrial residues from semiconductor, steel, chemical, and power generation facilities.
- Alternative Raw Materials (ARM): Industrial by-products replace virgin limestone, clay, silica sand, and iron slag, achieving an overall substitution rate of 21% across Taiwan and Mainland China in 2025 (19.4% in Taiwan).
- Alternative Fuel Thermal Substitution Rate (TSR): Increased from 0.2% in 2020 to 10% in 2025, lowering coal consumption and related manufacturing emissions.
- Construction and Demolition Waste Recycling: Operating a specialized processing unit at the Hualien Plant, converting demolition debris into circular resources (processing approximately 6,000 metric tons in 2025).
CIRCULAR INDUSTRIAL SYMBIOSIS MODEL
Upstream Waste Sources TCC High-Temp Kilns Circular Outputs
โโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโ
โ โข Semiconductor & โ Alternative โ โข Co-Processing at โ โ โข Low-Carbon โ
โ Electronics Wastes โ โโโโโโโโโโโโโโโโ> โ 1,400ยฐC+ โ โโโโโโโโโโ> โ Limestone โ
โ โข Demolition Debris โ Raw Materials โ โข Complete Thermal โ โ Cement โ
โ โข Municipal Solid โ โ Destruction of โ โ โข Recycled โ
โ Waste (MSW) โ Alternative โ Hazardous Residueโ โ Aggregates for โ
โ โข Steel Slag & Ash โ โโโโโโโโโโโโโโโโ> โ โข Clinker Mineral โ โโโโโโโโโโ> โ Permeable โ
โโโโโโโโโโโโโโโโโโโโโโโโ Fuels (TSR 10%) โ Fixation โ โ Concrete โ
โโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโ
Green Energy & Power Generation Segment
Operated primarily through TCC Green Energy Corporation and affiliated project entities, this segment develops, owns, and operates utility-scale renewable generation installations.
- Renewable Energy Asset Portfolio: Installed renewable capacity expanded to 235 MW in 2025 (up from 203 MW in 2024), tracking toward a 400 MW target by 2030 and 750 MW by 2050 (Management targets).
- Hongye Geothermal Power Project: Located in Yanping Township, Taitung County, this asset completed partial unit grid connection and commenced commercial baseload power supply in 2025.
- Solar Agrivoltaic Developments: Projects including the Yizhu Phase II and Longjiang developments in Chiayi County progressed toward full commercial grid link in 2026.
- Wind Energy Pipeline: Advanced the Shimen Wind Power Project in New Taipei City through environmental impact assessment reviews.
Global Energy Storage & Virtual Microgrids Segment
Administered via NHOA Energy, Atlante, and TCC Energy Storage Technology Corporation, this division focuses on grid stabilization, energy-as-a-service, and cross-border microgrid networks.
- Global Deployment Footprint: Reached approximately 4.0 GWh in cumulative energy storage installations (commissioned and under construction) across Europe, the Americas, Australia, Mainland China, and Taiwan.
- Taipower Electricity Trading Market: Deployed 195 MW of E-dReg energy storage systems on the domestic grid, commanding a 19.1% market share as of February 2026, alongside 40 MW of supplemental spinning reserve capacity.
- Behind-the-Meter Industrial Storage: Installing 12 MWh and 32.8 MWh systems across two Taiwanese cement plants during the first half of 2026 for peak shaving and load shifting.
- Atlante EV Fast-Charging Network: Built an operational network spanning over 1,300 stations and 5,300 charging points across Italy, France, Spain, and Portugal.
Advanced High-Power Battery Technologies Segment
Operating through E-One Moli Energy Corp. and Molie Quantum Energy Corporation, TCC manufactures cylindrical lithium-ion cells for high-discharge industrial and aerospace applications under the Molicel brand.
- Strategic AI Supply Chain Integration: Transitioning cell designs into backup battery units (BBU) for global AI data centers in North America and Europe.
- Aerospace & eVTOL Applications: Engineering high-energy-density cells certified for electric vertical takeoff and landing aircraft.
- Flexible Asset-Light Manufacturing: Augmenting domestic lines at the Southern Taiwan Science Park with contract manufacturing in Malaysia and proprietary technology licensing.
History and Evolution
TCC was established in 1946 following the conclusion of World War II, playing a direct role in the reconstruction of Taiwan’s civic infrastructure. The enterprise was privatized in 1954 as part of Taiwan’s Land-to-the-Tiller land reform program, becoming one of the first private industrial enterprises on the island.
1946: Founded as a state-owned industrial enterprise to rebuild postwar infrastructure
โ
1954: Privatized under Taiwan's Land-to-the-Tiller land reform program
โ
1962: Listed on the Taiwan Stock Exchange (Stock Code: 1101)
โ
2017: Appointment of Nelson An-ping Chang as Chairman; launch of green transition
โ
2018: Formed TCC Corporate Sustainable Development framework; first global cement firm to earn BS 8001 Circular Economy certification
โ
2021: Acquired international energy storage group NHOA S.A.; introduced 150 37001 Anti-Bribery standards
โ
2024: Expanded European presence by acquiring 100% of Cimpor (Portugal) and 60% of Oyak Cement (Tรผrkiye)
โ
2025: Completed LEED & WELL Platinum international operations hub in Hangzhou; achieved SBTi 1.5ยฐC validation
โ
2026: Celebrates 80th Anniversary, operating across Europe, Asia, and Africa
- Core Industrial Expansion: Over its first five decades, TCC developed large-scale limestone extraction, clinker production, and maritime transport infrastructure, centered around major domestic facilities including the Hualien, Su’ao, and Hoping Plants.
- Mainland China Market Entry: During the 1990s and 2000s, TCC scaled cross-strait production assets, building major cement manufacturing facilities across Guangdong, Guangxi, Jiangsu, Guizhou, and Sichuan.
- Strategic Green Transformation (2017โPresent): Following the leadership transition to Chairman Nelson An-ping Chang, the Group restructured from traditional heavy manufacturing into an integrated eco-industrial group.
- Global M&A and Internationalization: In 2021, TCC completed the cross-border acquisition of NHOA S.A. (formerly Engie EPS), gaining immediate scale in global energy storage and European EV fast-charging via Atlante. In 2024, TCC expanded its international footprint by acquiring 100% of Cimpor Portugal Holdings and increasing its equity interest in Tรผrkiye’s Oyak Cement to 60%.
- Modern Operational Milestones (2025): The Group commissioned its greenfield cement plant in Cameroon, finished construction of its international operations headquarters in Hangzhou (the first building in Hangzhou certified LEED and WELL Platinum), and completed the Nautilus Library waste gasification facility.
Products and Services
| Product / Service Line | Revenue (NT$) | % of Total Revenue | Technical Specifications & Performance Attributes |
| Low-Carbon Portland Limestone Cement | Not separately disclosed in the source | Not separately disclosed in the source | Low-carbon binder replacing traditional Portland cement; certified with Type III Environmental Product Declarations (EPD) at Su’ao and Heping Plants. |
| Low-Carbon Ready-Mixed Concrete (RMC) | Not separately disclosed in the source | Not separately disclosed in the source | Engineered concrete with superior early strength, workability, and verifiable carbon labels; annual domestic sales exceeded 3.0 million $\text{m}^3$ in 2025. |
| Ultra-High Performance Concrete (UHPC) | Not separately disclosed in the source | Not separately disclosed in the source | Proprietary concrete reaching 180 MPa compressive strength; formulated for precast components, 3D printing, and energy storage enclosures. |
| Permeable Concrete Systems | Not separately disclosed in the source | Not separately disclosed in the source | High-strength porous concrete utilizing recycled demolition aggregates, designed to optimize urban stormwater infiltration and alleviate flood runoff. |
| EnergyArk Energy Storage Cabinets | Not separately disclosed in the source | Not separately disclosed in the source | Patented UHPC fire-resistant enclosures (EnergyArk400, EnergyArk1000, EnergyArk418) featuring 1C discharge, thermal insulation, and automated fire suppression. |
| Atlante EV Fast-Charging & Microgrids | Not separately disclosed in the source | Not separately disclosed in the source | Integrated fast-charging infrastructure pairing solar PV, B2G energy storage, and automated electricity trading across Southern Europe. |
| Specialized Lithium-Ion Battery Cells | Not separately disclosed in the source | Not separately disclosed in the source | Cylindrical high-drain lithium-ion cells engineered by Molicel for aerospace eVTOL craft and AI server backup battery units (BBU). |
| Industrial & Municipal Waste Co-Processing | Not separately disclosed in the source | Not separately disclosed in the source | High-temperature kiln incineration of hazardous electronic, chemical, and municipal solid waste, converting ash into mineralized clinker raw material. |
Source: TCC Group Holdings CO., LTD. 2025 Annual Report.
ULTRA-HIGH PERFORMANCE CONCRETE (UHPC)
PROPRIETARY APPLICATIONS
โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโผโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
โ โ โ
โโโโโโโดโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโดโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโดโโโโโโโโโโโโโโโ
โ STRUCTURAL & CIVIL โ โ ENERGY INFRASTRUCTURE โ โ ADVANCED ARCHITECTURE โ
โโโโโโโโโโโโโโโโโโโโโโโโโโค โโโโโโโโโโโโโโโโโโโโโโโโโโโค โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโค
โโข Compressive Strength โ โโข EnergyArk Enclosures โ โโข Precast Faรงade KT Panels โ
โ exceeding 180 MPa โ โโข Integrated Fire Barrierโ โโข High-Precision 3D โ
โโข Reinforced Concrete โ โ & Thermal Insulation โ โ Printing Concrete Slurriesโ
โ Pipes (RCP) โ โโข Third-Party Liability โ โโข Bagged High-Strength โ
โโข Long-life Bridge/Port โ โ Insurance Backed โ โ Self-Leveling Compounds โ
โ Engineered Assemblies โ โโข 26 Global Patents Filedโ โโข Sprayed Finishes & Decor โ
โโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
- Portland Limestone Low-Carbon Cement: Developed to meet growing demand under carbon pricing mechanisms. The product utilizes ground limestone to reduce the clinker factor while maintaining high early compressive strength.
- Ultra-Low Carbon Concrete (ULCC): Formulations completed engineering validation in 2025 and are undergoing formal carbon label certifications with environmental regulators.
- UHPC Bagged Self-Leveling Compounds: Set for market release in Q2 2026, delivering compressive strength more than twice the market average.
- EnergyArk Storage Enclosures: Combines materials science with battery technology. The concrete housing provides passive thermal shielding and fire isolation, holding 26 global patents.
- Industrial Microgrid Services: Integrates behind-the-meter batteries, electric vehicle charging stations, and grid aggregation software to execute demand response and frequency regulation.
Brand Portfolio
| Brand Name | Target Industry / Market Sector | Disclosed Revenue (NT$) | % of Total Revenue | Brand Focus & Market Positioning |
| TCC (Taiwan Cement) | Cement, Ready-Mixed Concrete, Aggregates | Not separately disclosed in the source | Not separately disclosed in the source | Primary brand for infrastructure, low-carbon building materials, and waste co-processing in Taiwan and Mainland China. |
| Cimpor | Cement, Clinker, Aggregates, Mortars | Not separately disclosed in the source | Not separately disclosed in the source | Historic European and African cement brand operating across Portugal, Cape Verde, and Cameroon, with supply hubs at Bristol Port (UK). |
| Oyak Cement | Cement & Ready-Mixed Concrete | Not separately disclosed in the source | Not separately disclosed in the source | Major cement manufacturing brand in Tรผrkiye, expanding low-carbon cement clinker alternatives. |
| Molicel | Cylindrical Lithium-Ion Batteries | Not separately disclosed in the source | Not separately disclosed in the source | Premium high-power lithium-ion brand targeting high-discharge AI data center BBUs, power tools, and eVTOL aerospace applications. |
| NHOA Energy | Utility-Scale Energy Storage | Not separately disclosed in the source | Not separately disclosed in the source | International system integrator delivering utility-scale turnkey battery energy storage systems across Europe, the Americas, and Australia. |
| Atlante | EV Fast & Ultra-Fast Charging Networks | Not separately disclosed in the source | Not separately disclosed in the source | EV charging network developer deploying integrated charging and storage microgrids across Italy, France, Spain, and Portugal. |
| EnergyArk | Patented UHPC Battery Enclosures | Not separately disclosed in the source | Not separately disclosed in the source | Brand of fire-safe, cement-composite energy storage cabinets deployed across manufacturing facilities, hotels, and EV hubs. |
| TCC DAKA | Eco-Tourism & Circular Industrial Parks | Not separately disclosed in the source | Not separately disclosed in the source | Brand identity for open eco-industrial engagement, community co-prosperity, and biodiversity education based at the Hualien Heping Plant. |
Source: TCC Group Holdings CO., LTD. 2025 Annual Report.
Geographical Presence
TCC GLOBAL OPERATIONAL SITES
EUROPE & MEDITERRANEAN EAST & SOUTHEAST ASIA AFRICA & AMERICAS
โโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโ
โ โข Portugal (Cimpor) โ โ โข Taiwan: โ โ โข Cameroon (New Plant)โ
โ โข Tรผrkiye (Oyak Cement) โ โ - Heping, Su'ao, โ โ โข Cape Verde โ
โ โข Italy (Atlante Hub) โ โ Taipei, Hualien โ โ โข Ghana, Nigeria, โ
โ โข France (Atlante EV) โ โ โข Mainland China: โ โ Ivory Coast, Algeriaโ
โ โข Spain & Switzerland โ โ - Hangzhou HQ โ โ โข USA & Canada: โ
โ โข United Kingdom: โ โ - Guangdong, Guangxi,โ โ - E-One Moli โ
โ - Port of Bristol Hub โ โ Jiangsu, Guizhou โ โ Holdings / Moli โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโ
| Region / Country | Production Facilities & Key Assets | Disclosed Regional Revenue (NT$) | % of Total Revenue | Regional Sales & Operating Highlights |
| Taiwan | Integrated cement plants (Heping, Su’ao), RMC plants, Ho-Ping Power Plant, Hualien Demolition Recycler, battery facilities in Tainan and Kaohsiung. | Not separately disclosed in the source | Not separately disclosed in the source | Domestic cement and concrete target set at 38.12M tons cement/clinker and 6.19M $\text{m}^3$ RMC (combined with Mainland China) (Management target). Dispatched 195 MW E-dReg storage. |
| Mainland China | Hangzhou International HQ, integrated cement and clinker lines across Guangdong, Guangxi, Jiangsu, Guizhou, Sichuan, Hunan, Liaoning. | Not separately disclosed in the source | Not separately disclosed in the source | Progressing capacity replacement programs to phase out inefficient lines, consolidate capacity into core plants, and prepare for national carbon market inclusion. |
| Europe (Portugal, Tรผrkiye, Italy, France, Spain, UK) | Cimpor manufacturing sites (Portugal), Oyak Cement plants (Tรผrkiye), Atlante charging network (>1,300 sites), Port of Bristol logistics hub. | Not separately disclosed in the source | Not separately disclosed in the source | Regional sales target set at 17.83 million metric tons cement/clinker and 8.75 million $\text{m}^3$ ready-mixed concrete (Management target). |
| Africa (Cameroon, Cape Verde, Western Africa) | Greenfield cement plant in Cameroon (commissioned 2025), Cimpor Cape Verde grinding and terminal assets, expanding supply channels. | Not separately disclosed in the source | Not separately disclosed in the source | Cameroon facility expands West African supply footprint, supporting local infrastructure and housing demand. |
| North America & International (USA, Canada, Malaysia) | E-One Moli Energy research and manufacturing assets in Canada, Molicel US distribution channels, contract manufacturing lines in Malaysia. | Not separately disclosed in the source | Not separately disclosed in the source | Directing aerospace-grade cylindrical cells and AI data center BBU systems to Tier-1 technology and aviation customers. |
Source: TCC Group Holdings CO., LTD. 2025 Annual Report.
- Taiwan Operating Core: Houses the group’s flagship heavy industrial and power infrastructure. The Heping complex integrates limestone mining, cement production, a dedicated industrial port, and the Ho-Ping thermal power facility.
- Mainland China Consolidation: In response to structural shifts and domestic real estate adjustments, TCC is optimizing capacity across southern and southwestern provinces, shifting production to strategically advantaged core plants.
- European Low-Carbon Hub: Leveraging full ownership of Cimpor and a 60% stake in Oyak Cement, TCC is targeting low-carbon cement demand driven by the EU CBAM and public infrastructure investments.
- Emerging African Operations: The commissioning of the Cameroon plant in 2025 expands the company’s international manufacturing network.
Profit and Loss
CONSOLIDATED REVENUE & MARGIN TRENDS
Consolidated Revenue (NT$ Billions) Consolidated Gross Margin (%)
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
โ 2024: โ โ โ โ โ โ โ โ โ โ โ โ โ โ โ โ โ โ โ โ NT$154.6B โ โ 2024: โ โ โ โ โ โ โ โ โ โ โ โ โ 21.2% โ
โ 2025: โ โ โ โ โ โ โ โ โ โ โ โ โ โ โ โ โ โ โ NT$149.8B โ โ 2025: โ โ โ โ โ โ โ โ โ โ โ 18.4% โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
YoY Change: -3.1% YoY Change: -2.8 percentage pts
Net Income Attributable to Parent (NT$) Operating Cash Flow (NT$ Billions)
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
โ 2024: โ โ โ โ โ โ +NT$11.25B (Calculated) โ โ 2024: โ โ โ โ โ โ โ โ โ โ โ โ โ โ NT$31.79Bโ
โ 2025: โโโโโโ (NT$11.618B) [Loss] โ โ 2025: โ โ โ โ โ โ โ โ โ โ โ โ โ โ โ NT$33.19Bโ
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
YoY Change: -203.2% YoY Change: +4.4%
| Financial Performance Metric | FY 2025 (Company Reported) | FY 2024 (Company Reported) | Year-over-Year Change (%) | FirmsWorld Financial Editorial Commentary |
| Consolidated Revenue | NT$149,804,135 thousand (NT$149.8 billion) | NT$154,606,511 thousand | -3.1% | Modest top-line contraction resulting from real estate adjustments in Mainland China, offset by resilient European cement performance. |
| Gross Profit Margin | 18.4% | 21.2% (Calculated by FirmsWorld) | -2.8 percentage points | Compression driven by domestic price competition in Asian cement markets and fixed cost overheads. |
| Net Income (Loss) Attributable to Shareholders | (NT$11,618,000 thousand) [(NT$11.618 billion)] | NT$11,257,752 thousand (Calculated by FirmsWorld) | -203.2% | Negative bottom-line performance caused primarily by one-off disaster losses and impairment charges from the Molie Quantum Energy battery factory fire. |
| Earnings (Loss) Per Share (EPS) | NT$(1.60) | NT$1.45 (Calculated by FirmsWorld) | NT$(3.05) per share | EPS reflected the net loss attributable to equity holders, shifting from positive territory in FY 2024. |
| Operating Cash Flow | NT$33,192,000 thousand (NT$33.192 billion) | NT$31,793,103 thousand (Calculated by FirmsWorld) | +4.4% | Operating cash flow generation remained positive at NT$33.192 billion, demonstrating underlying business stability. |
| International Issuer Credit Rating | “BBB-” (Stable Outlook) | “BBB-” (Stable Outlook) | Maintained | Investment-grade credit profile affirmed by international rating agencies. |
Source: TCC Group Holdings CO., LTD. 2025 Annual Report.
- Top-Line Resilience Amid Headwinds: Full-year consolidated revenue settled at NT$149.8 billion, a 3.1% year-over-year decline against broader challenges across Asian industrial sectors.
- Impact of Factory Fire: The net loss of NT$11.618 billion was driven by disaster write-downs and asset impairments following the July 14, 2025 fire at the Kaohsiung battery plant of subsidiary Molie Quantum Energy Corporation.
- Operating Cash Flow: Net operating cash flows expanded by 4.4% to reach NT$33.192 billion, supporting ongoing capital commitments and debt service requirements.
Balance Sheet
The annual report outlines key capital actions, green financing arrangements, and liquidity structures. Complete line-item asset and liability balances are presented in the consolidated financial statements.
| Capital & Liquidity Dimension | Reported Value / Metric | Source Disclosed Mechanism & Strategic Context |
| Green Convertible Bond Issuance | US$350 million | Issued in March 2025 as unsecured international green convertible debt to fund environmental and low-carbon investments. |
| Syndicated Green Term Loan | โฌ500 million | Secured in June 2025 with a five-year maturity to support overseas low-carbon expansion and refinancing. |
| Senior Unsecured Corporate Bonds | NT$16.3 billion | Issued in December 2025 across fixed-rate tranches with maturities of 6, 12, and 15 years to secure long-term funding. |
| Unsecured Corporate Bond Quota Authorization | NT$20.0 billion | Board authorization approved on November 12, 2025, to provide liquidity reserves and balance sheet flexibility. |
| TCC Dutch Holdings Endorsement Guarantee | โฌ600 million | Approved parent guarantee cap for 100%-owned Dutch entity to issue green bonds and syndicated financing. |
| Asset Divestment & Liquidity Optimization | Multi-parcel real estate sales | Disposals include commercial land parcels No. 16 and No. 127 in Zhudong Township, Hsinchu County, to optimize capital utilization. |
| Total Balance Sheet Assets / Liabilities | Not separately disclosed in the source | Complete audited asset, liability, and equity line items are detailed in the financial statements. |
Source: TCC Group Holdings CO., LTD. 2025 Annual Report.
Cash Flow
CASH GENERATION & ALLOCATION
Operating Inflow (NT$) Financing & Green Facilities Strategic Capex / Reinvestment
โโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
โ โข NT$33.192 Billion โ โ โข US$350M Green Conv. Bond โ โ โข Hangzhou Hub Completion โ
โ from Operations โ โโโโโโโโโโโโโ> โ โข โฌ500M 5-Yr Green Loan โ โโโโโโ> โ โข Cameroon Cement Plant โ
โ โข +4.4% Growth YoY โ โ โข NT$16.3B Corporate Bonds โ โ โข Agrivoltaic & Geothermal โ
โ โข Resilient Base โ โ โข NT$20.0B Bond Authority โ โ โข European Microgrid Storage โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
| Cash Flow Category | Reported Cash Flow Metric (NT$) | Year-over-Year Trend (%) | Disclosed Business Activities & Capital Commitments |
| Operating Cash Flow | NT$33.192 billion (NT$33,192,000 thousand) | +4.4% | Sustained operating cash flows derived from domestic and European building materials operations. |
| Investing Cash Flow | Not separately disclosed in the source | Not separately disclosed in the source | Capital deployed toward the completion of the Hangzhou international HQ, Cameroon plant commissioning, and renewable energy sites. |
| Financing Cash Flow | Multi-currency facilities executed | Multi-currency facilities executed | Green debt proceeds offset by dividend distributions (NT$7.531 billion paid in July 2025 for FY 2024 at NT$1.0/share) and share repurchases. |
| Free Cash Flow | Not separately disclosed in the source | Not separately disclosed in the source | Calculated from operating cash flow minus capital expenditures in consolidated statements. |
Source: TCC Group Holdings CO., LTD. 2025 Annual Report.
Board of Directors and Leadership Team
TCCโs corporate governance structure consists of a 15-member Board of Directors, including five Independent Directors (33% independent representation) and five female Directors (33% gender representation).
TCC BOARD OF DIRECTORS
(15 Board Members)
โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโผโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
โ โ โ
โโโโโโโดโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโดโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโดโโโโโโ
โ EXECUTIVE DIRECTORS โ โNON-EXECUTIVE DIRECT.โ โ INDEPENDENT DIRECTORS โ
โ (20% / 3 Seats) โ โ (47% / 7 Seats) โ โ (33% / 5 Seats) โ
โโโโโโโโโโโโโโโโโโโโโโโโโโค โโโโโโโโโโโโโโโโโโโโโโโค โโโโโโโโโโโโโโโโโโโโโโโโโโค
โโข Nelson An-ping Chang โ โโข Kenneth C.M. Lo โ โโข Victor Wang โ
โ (Chairman & Group CEO)โ โโข Yu-Cheng Chiao โ โโข Lynette Ling-Tai Chou โ
โโข Roman Cheng โ โโข Eric Chen Sun Te โ โโข Sherry S. L. Lin โ
โ (President) โ โโข Jason Chang โ โโข Ruu Tian Chang โ
โโข Kung-Yi Koo โ โโข Por-Yuan Wang โ โโข Man Jung Chan โ
โ (Assistant VP) โ โโข Chien Wen โ โ โ
โ โ โโข Liz Wang โ โ โ
โโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโ
| Board Member Name | Corporate Board Title | Legal Entity Represented | Committee Assignments | Professional Background & Expertise |
| Nelson An-ping Chang | Chairman & Group CEO | Chia Hsin R.M.C. Corporation | Convener, Corporate Sustainable Development; Member, Nomination | Over 50 years of industrial leadership; MBA, New York University; Chairman of NHOA S.A., Taiwan Prosperity Chemical, and CSRC. |
| Roman Cheng | Director & President | Tai Ho Farming Co., Ltd. | Member, Corporate Sustainable Development | 28 years of banking and corporate leadership; MBA, National Chengchi University; former President of Taipei Fubon Commercial Bank; Chairman of Atlante S.R.L. |
| Kenneth C.M. Lo | Director | International CSRC Investment Holdings Co., Ltd. | Member, Nomination | Over 50 years in banking and corporate finance; MS in Finance, University of Alabama; Founder and Honorary Chairman of O-Bank. |
| Yu-Cheng Chiao | Director | Hsing Cheng Investment Co., Ltd. | None listed in source | Over 40 years in technology and industrial manufacturing; MS in Electronic Engineering, University of Washington; Chairman and CEO of Winbond Electronics. |
| Eric Chen Sun Te | Director | C. F. Koo Foundation | None listed in source | Over 40 years in financial services; BA, National Chengchi University; former Chairman of Taipei Fubon Bank; Director of Lion Travel and USI Corp. |
| Kang-Lung (Jason) Chang | Director | Chia Hsin Cement Corporation | None listed in source | Over 30 years in cement manufacturing; MS in Management Studies, MIT Sloan School of Management; Chairman of Chia Hsin Cement and Taiwan Cement Manufacturers Association. |
| Por-Yuan Wang | Director | Heng Qiang Investment Co., Ltd. | None listed in source | Over 50 years in venture capital and technology; Ph.D., Carnegie Mellon University; Honorary Chairman of Sercomm Corporation. |
| Kung-Yi Koo | Director & Assistant VP | CS Development & Investment Co. | None listed in source | Over 10 years in investment banking and heavy industry; MBA, Wharton School, University of Pennsylvania; Chairman of International CSRC Investment Holdings. |
| Chien Wen | Director | Fu Pin Investment Co., Ltd. | None listed in source | Over 30 years in technology and financial operations; MBA, Wharton School, University of Pennsylvania; former CFO of Winbond Electronics; President of Cathay Securities Investment Trust. |
| Liz Wang | Director | Chia Hsin Cement Corporation | Member, Risk Management; Member, Corporate Sustainable Development | Over 10 years in building materials; MBA, Waseda University; CEO and President of Chia Hsin Cement Corporation; Vice Chairman of Taiwan Women on Boards Association. |
| Victor Wang | Independent Director | Independent | Convener, Audit; Convener, Nomination; Member, Remuneration, Risk Management, Corporate Sustainable Development, Info Security | Over 30 years in accounting and financial audit; EMBA, National Taiwan University; former Vice Chairman and COO of Audit Services at Deloitte Taiwan; Director of Yageo Corp. |
| Lynette Ling-Tai Chou | Independent Director | Independent | Convener, Remuneration; Member, Audit, Risk Management, Nomination, Corporate Sustainable Development | Over 30 years in accounting academia and public service; Ph.D. in Accounting, University of Houston; former Chair of Accounting at National Chengchi University; Director of Next Commercial Bank. |
| Sherry S. L. Lin | Independent Director | Independent | Convener, Risk Management; Member, Audit, Remuneration, Nomination, Corporate Sustainable Development, Info Security | Over 40 years in corporate law and governance; LLB, National Taiwan University; Senior Consultant at Lee and Li, Attorneys-at-Law; Independent Director of Taiwan FamilyMart. |
| Ruu Tian Chang | Independent Director | Independent | Convener, Information Security; Member, Audit, Remuneration, Risk Management | Over 20 years in enterprise IT and digital transformation; MBA, University of Minnesota; Executive Vice President of Gartner Group Taiwan; former IT President of CTBC Financial Holding. |
| Man Jung Chan | Independent Director | Independent | Member, Audit, Remuneration, Risk Management, Nomination | Over 10 years in international trade policy; Ph.D. in Political Economy, Boston University; Honorary Chief Strategy Officer of Health Asia; former Director at Standard Chartered Bank Taiwan. |
Source: TCC Group Holdings CO., LTD. 2025 Annual Report.
Executive Management Team
- Nelson An-ping Chang: Group Chief Executive Officer.
- Roman Cheng: President.
- Chien-Chiang Huang: Senior Vice President.
- Ker-Fu Lu: Senior Vice President.
- Bao-Luo Ge: Vice President.
- Chien-Chuan Wang: Vice President.
- Feng-Ping Liu: Vice President.
- Yu-Jun Yeh: Vice President.
- Randy Yu: Chief Financial Officer and Accounting Chief Officer.
- Nien-Wang Chang: Chief Information Security Officer.
- Guo Hong Yeh: Senior Assistant Vice President & Internal Audit Manager.
- Jia-Ro Lai: Assistant Vice President & Corporate Governance Manager.
Subsidiaries, Associates, Joint Ventures
The following entities were disclosed in the annual report through operational narratives, board governance actions, and leadership appointments:
| Entity Name | Operating Jurisdiction | Ownership % / Relationship | Business Activity & Strategic Mandate |
| Cimpor Portugal Holdings SGPS, S.A. | Portugal | 100% Subsidiary | Integrated European and African cement operations, export terminals, and low-carbon cement distribution. |
| Oyak Cement (OYAK รimento Fabrikalarฤฑ A.ล.) | Tรผrkiye | 60% Subsidiary | Cement, clinker, and ready-mixed concrete manufacturing operations across Tรผrkiye. |
| NHOA S.A. / NHOA Energy S.R.L. | France / Italy | Controlled Subsidiary | Utility-scale energy storage systems, microgrids, and global battery engineering. |
| Atlante S.R.L. | Italy | Controlled Subsidiary | Southern European EV fast-charging network operator integrating on-site solar and storage microgrids. |
| E-One Moli Energy Corp. / Molicel | Taiwan / Canada | Controlled Subsidiary | High-power cylindrical lithium-ion cell R&D, manufacturing, and global technology licensing. |
| Molie Quantum Energy Corporation | Taiwan | Controlled Subsidiary | High-power battery manufacturing entity based in Kaohsiung. |
| TCC Energy Storage Technology Corporation | Taiwan | Controlled Subsidiary | Development of EnergyArk storage cabinets, B2G grid aggregation, and ancillary power services. |
| TCC Green Energy Corporation | Taiwan | Controlled Subsidiary | Development and operations of utility-scale solar PV, onshore wind, and geothermal power assets. |
| Ho-Ping Power Company | Taiwan | Group Affiliate / Investee | Thermal power generation facility located at Hualien Hoping industrial complex. |
| Ho-Ping Industrial Port Corporation | Taiwan | Controlled Subsidiary | Specialized industrial port facilities for bulk raw material handling in eastern Taiwan. |
| Ta-Ho Maritime Corporation | Taiwan | 64.79% Held by TCC | Bulk maritime logistics, raw material cargo transport, and specialized cement carrier fleet. |
| Taiwan Transport & Storage Co., Ltd. | Taiwan | Group Investee | Land transport, logistics management, and material storage warehousing. |
| TCC Dutch Holdings B.V. | Netherlands | 100% Owned Subsidiary | Offshore financing vehicle and holding company for European corporate assets. |
| TCC (Hangzhou) Management Co., Ltd. | Mainland China | Controlled Subsidiary | Regional management headquarters and operational coordinator for Mainland China cement subsidiaries. |
| TCC Recycle Resources Co., Ltd. | Taiwan | Controlled Subsidiary | Resource circularity, construction demolition recycling, and waste processing. |
Source: TCC Group Holdings CO., LTD. 2025 Annual Report.
Other Investments (Including Minority / Portfolio Holdings)
| Investee / Portfolio Company | Country of Incorporation | Reported Ownership % | Nature of Holding | Business Activity & Sector |
| Taiwan Stock Exchange Corporation | Taiwan | Minor institutional holding (Disclosed via Board Directorship) | Strategic / Institutional | Domestic securities exchange operator. |
| International CSRC Investment Holdings Co., Ltd. | Taiwan | 15.59% Held by TCC directly (plus 2.23% by TCC Investment Corp) | Strategic / Equity Affiliate | Carbon black production, synthetic rubber, and biotechnology investments. |
| Chia Hsin Cement Corporation | Taiwan | 3.54% Held directly by TCC (plus 3.33% by Ta-Ho Maritime) | Strategic / Cross-Shareholding | Cement manufacturing, real estate asset management, and healthcare. |
| Chien Kuo Construction Co., Ltd. | Taiwan | 2.99% Held by TCC | Strategic / Customer Supply Chain | Large-scale civil engineering, infrastructure, and building construction. |
| CHC Resources Corporation | Taiwan | Minor holding (Disclosed via Board Directorship) | Strategic / Supply Chain | Ground granulated blast-furnace slag (GGBS) and circular construction materials. |
| China Steel Chemical Corporation | Taiwan | Minor holding (Disclosed via Board Directorship) | Strategic / Material Supply | Coal chemical processing, coal tar distillation, and battery anode materials. |
| Yageo Corporation | Taiwan | Disclosed via Board directorship | Passive / Professional Affiliation | Global passive electronic component and chip resistor manufacturing. |
| Winbond Electronics Corporation | Taiwan | Disclosed via Board directorship | Passive / Professional Affiliation | Specialty memory semiconductor design and fabrication. |
| Next Commercial Bank Co., Ltd. | Taiwan | Disclosed via Board directorship | Passive / Professional Affiliation | Digital commercial banking services. |
Source: TCC Group Holdings CO., LTD. 2025 Annual Report.
Physical Properties
MAJOR PHYSICAL PROPERTIES & SITES
HEADQUARTERS & HUBS MANUFACTURING PLANTS LOGISTICS & ENERGY ASSETS
โโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
โ โข TCC Operations HQ โ โ โข Hoping Cement Plant โ โ โข Ho-Ping Industrial Port โ
โ (Taipei City) โ โ (Hualien County) โ โ โข Port of Bristol Usage โ
โ โข Hangzhou Internationalโ โ โข Su'ao Cement Plant โ โ Terminal (United Kingdom) โ
โ Operations Center โ โ (Yilan County) โ โ โข Hongye Geothermal Plant โ
โ (LEED/WELL Platinum) โ โ โข Cameroon Greenfield โ โ (Taitung County) โ
โ โข Nautilus Library โ โ Cement Plant โ โ โข Yizhu II & Longjiang Solar โ
โ Circular Facility โ โ โข Molicel Tainan Plant โ โ โข Ta-Ho Dedicated Bulk Fleet โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
- Hangzhou International Operations Headquarters: Completed in 2025, this facility serves as the group’s operations center in Mainland China and is the first building in Hangzhou to achieve dual LEED and WELL Platinum green building certifications.
- Heping Integrated Cement & Power Complex: Located in Xiulin Township, Hualien County, this facility houses rotary cement kilns, the Ho-Ping thermal power plant, heavy clinker storage silos, and an adjacent deep-water industrial port.
- Su’ao Plant: Located in Yilan County, producing Type III EPD-certified low-carbon Portland limestone cement.
- Hualien Construction Waste Recycling Facility: Dedicated recycling installation commissioned to process and sort demolition concrete debris into reusable aggregates.
- Cameroon Cement Manufacturing Plant: Greenfield facility commissioned in 2025 to expand West African operations.
- Molicel Battery Manufacturing Facilities: High-drain cylindrical battery manufacturing operations situated within the Southern Taiwan Science Park (Tainan) and Kaohsiung.
- Hongye Geothermal Power Generation Facility: Baseload geothermal field located in Yanping Township, Taitung County.
- Port of Bristol Logistics Terminal: Dedicated port facility in the United Kingdom managed by Cimpor to handle low-carbon cement imports into Northern Europe.
- Zhudong Commercial Land Holdings: Commercial land holdings located at Tainin Section, Lots 16 and 127 in Zhudong Township, Hsinchu County, designated for asset monetization.
Founders
TCC was founded during the post-war industrial reorganization of Taiwan in 1946, initially operating under public administration before its privatization in 1954.
- The Koo Family Industrial Stewardship: The development of TCC was guided by prominent industrial leader Dr. C.F. Koo, who established the enterprise’s foundational operating philosophy.
- Eight Guiding Principles: Former Chairman Koo established the moral framework of “Humility, harmony, sincerity, and trust”โurging leadership to remain humble before nature, principled in governance, sincere with partners, and trustworthy to society.
- Modern Executive Leadership: Chairman Nelson An-ping Chang has steered the enterprise’s transformation from traditional heavy manufacturing into an international green engineering and energy platform.
Parent
TCC Group Holdings CO., LTD. is the ultimate publicly listed parent entity (TWSE: 1101), maintaining operational control, treasury oversight, and consolidated reporting for all underlying operating subsidiaries.
TCC GROUP HOLDINGS CO., LTD. (PARENT)
(TWSE: 1101)
โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโผโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโ
โ โ โ
100% Owned Controlled Controlled
โโโโโโโโดโโโโโโโโโโโโโโโโโโ โโโโโโโโดโโโโโโโโโโโโโโโโโโ โโโโโโโโดโโโโโโโโโโโโโโโโโโ
โ TCC Dutch Holdings โ โ Regional Subsidiaries โ โ Energy & Tech Holdings โ
โโโโโโโโโโโโโโโโโโโโโโโโโโค โโโโโโโโโโโโโโโโโโโโโโโโโโค โโโโโโโโโโโโโโโโโโโโโโโโโโค
โโข Cimpor Portugal โ โโข TCC (Hangzhou) Mgmt โ โโข NHOA S.A. (Energy) โ
โ Holdings (100%) โ โโข Mainland China Plants โ โโข Atlante S.R.L. โ
โโข Oyak Cement (60%) โ โโข Ta-Ho Maritime โ โโข E-One Moli Energy โ
โโข European Finance Hub โ โโข Ho-Ping Port Corp โ โโข TCC Energy Storage โ
โโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโ
Investments and Capital Expenditure Plans
TCC allocates capital expenditures toward low-carbon manufacturing retrofits, proprietary energy storage, battery technology, and renewable generation.
| Investment / Capex Initiative | Allocated / Projected Amount (NT$) | Strategic Operational Purpose & Timeline |
| New Energy Generation Projects (Solar/Wind/Geothermal) | Approximately NT$8.33 billion | Developing agrivoltaic solar fields, Taitung geothermal phases, and expanding wind pipeline. |
| Carbon Pricing & Kiln Transition Programs | Approximately NT$7.99 billion | Installing oxy-fuel combustion capture, alternative fuel feed systems, and kiln efficiency upgrades. |
| Smart New Energy Business & Microgrids | Approximately NT$0.51 billion | Expanding Atlante European EV charging hubs and virtual power plant aggregation systems. |
| Flood Prevention & Physical Climate Adaptation | Approximately NT$0.50 billion | Building earth embankments, retention ponds, and reinforced drainage across high-risk plants. |
| Recycle Resources Co. Capital Injection | NT$2.7 billion | Equity infusion into TCC Recycle Resources Co., Ltd. approved in December 2025 to scale waste processing. |
| Internal Carbon Pricing Mechanism | Set at NT$500/ton (Taiwan) & RMB 105/ton (China) in 2025 | Internal hurdle pricing scaling to NT$1,800/ton and RMB 302/ton by 2030; โฌ150/ton benchmark in Europe. |
Source: TCC Group Holdings CO., LTD. 2025 Annual Report.
Shareholding Pattern
Data as of the book closure date: March 24, 2026.
TOP 10 SHAREHOLDERS BREAKDOWN
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโฌโโโโโโโโโโโโโโโฌโโโโโโโโโ
โ Shareholder Entity Name โ Total Shares โ % Held โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโผโโโโโโโโโโโโโโโผโโโโโโโโโค
โ Chia Hsin Cement Corporation โ 250,562,776 โ 3.33% โ
โ Tong Yang Chia Hsin International Corporation โ 120,167,847 โ 1.61% โ
โ Chuan Wei Investment Co., Ltd. โ 115,600,000 โ 1.54% โ
โ International CSRC Investment Holdings Co., Ltd. โ 113,896,285 โ 1.51% โ
โ Heng Qiang Investment Co., Ltd. โ 112,457,746 โ 1.49% โ
โ JPMorgan Chase Bank (Vanguard Total Int'l Stock Fund) โ 97,544,758 โ 1.30% โ
โ Chunghwa Post Co., Ltd. โ 93,220,041 โ 1.24% โ
โ JPMorgan Chase Bank (Vanguard Emerging Markets Fund) โ 92,103,717 โ 1.22% โ
โ Chinatrust Investment Co., Ltd. โ 90,223,983 โ 1.20% โ
โ Fu Pin Investment Co., Ltd. โ 85,225,165 โ 1.13% โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโดโโโโโโโโโโโโโโโดโโโโโโโโโ
| Major Shareholder Name | Legal Representative | Shares Held Directly | Ownership Ratio (%) | Related Party / Kinship Disclosures |
| Chia Hsin Cement Corporation | Kang-Lung (Jason) Chang | 250,562,776 | 3.33% | Same Chairman as Tong Yang Chia Hsin International Corporation. |
| Tong Yang Chia Hsin International Corporation | Kang-Lung (Jason) Chang | 120,167,847 | 1.61% | Director of Chia Hsin Cement Corporation; same Chairman. |
| Chuan Wei Investment Co., Ltd. | Chih-Kuang Yen | 115,600,000 | 1.54% | None disclosed in source. |
| International CSRC Investment Holdings Co., Ltd. | Kung-Yi Koo | 113,896,285 | 1.51% | None disclosed in source. |
| Heng Qiang Investment Co., Ltd. | Tian-Yi Huo | 112,457,746 | 1.49% | Same Chairman as Chinatrust Investment Co., Ltd.. |
| JPMorgan Chase Bank, N.A. (Vanguard Total Int’l Stock Index Fund) | Institutional Custody Account | 97,544,758 | 1.30% | Not applicable. |
| Chunghwa Post Co., Ltd. | Wang, Kwo-Tsai | 93,220,041 | 1.24% | None disclosed in source. |
| JPMorgan Chase Bank, N.A. (Vanguard Emerging Markets Stock Index Fund) | Institutional Custody Account | 92,103,717 | 1.22% | Not applicable. |
| Chinatrust Investment Co., Ltd. | Tian-Yi Huo | 90,223,983 | 1.20% | Director of Heng Qiang Investment Co., Ltd.; same Chairman. |
| Fu Pin Investment Co., Ltd. | Hsuan-Hui Koo | 85,225,165 | 1.13% | None disclosed in source. |
Source: TCC Group Holdings CO., LTD. 2025 Annual Report.
Future Strategy
Management has outlined strategic priorities focused on low-carbon materials, circular resources, and clean energy infrastructure.
TCC THREE-PILLAR STRATEGIC BLUEPRINT
โโโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโ
โ LOW-CARBON TRANSITION โ โ RESOURCE RECOVERY & โ โ ENERGY TECH & โ
โ & PRODUCT LEADERSHIP โ โ CIRCULAR PRODUCTION โ โ MICROGRID SCALE โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโโค โโโโโโโโโโโโโโโโโโโโโโโโโโโโค โโโโโโโโโโโโโโโโโโโโโโโโโโโโค
โโข Scale Portland Limestoneโ โโข Increase Alternative โ โโข Roll out EnergyArk418 โ
โ Cement concrete sales โ โ Fuels (TSR) from 10% to โ โ across 5 European nationsโ
โโข Commercialize Ultra-Low โ โ higher levels from 2026 โ โโข Enter French Power Grid โ
โ Carbon Concrete (ULCC) โ โโข Prioritize electronic & โ โ Trading by Q3 2026 โ
โโข Launch 2X Strength UHPC โ โ demolition waste reuse โ โโข Expand Molicel into AI โ
โ Self-Leveling Compounds โ โโข Scale carbon capture & โ โ Data Center BBUs and โ
โโข Phase out obsolete linesโ โ oxy-fuel combustion techโ โ eVTOL Aviation Supply โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโ โโโโโโโโโโโโโโโโโโโโโโโโโโโโ
- Low-Carbon Building Materials Expansion: Commercializing Ultra-Low Carbon Concrete (ULCC) upon completion of regulatory carbon label certification, while rolling out bagged high-strength UHPC self-leveling compounds in Q2 2026.
- Alternative Fuel and Raw Material Scaling: Increasing the thermal substitution rate (TSR) of alternative fuels above the 2025 level of 10% by upgrading feeding systems in late 2026, alongside industrial waste recycling from the semiconductor sector.
- Next-Generation Energy Storage Deployment: Launching the plug-and-play EnergyArk418 storage system across France, Italy, Spain, Portugal, and Switzerland in Q2 2026, aiming to build a cross-border microgrid network by 2028.
- Wholesale Electricity Trading Expansion: Entering the French electricity trading market by Q3 2026 through Atlante and TCC Energy Storage Technology Corp.
- Battery Technology Monetization: Expanding Molicel battery integration into AI data center backup units (BBU) and eVTOL aerospace designs under an asset-light overseas manufacturing model.
Key Strengths
- Verified Low-Carbon Product Portfolio: Secured Taiwan’s inaugural Type III Environmental Product Declarations (EPD) for cement and concrete, supported by an alternative raw material substitution rate of 21% across Taiwan and Mainland China.
- Proprietary Materials Science & Patents: Possesses domestic production capabilities for Ultra-High Performance Concrete reaching 180 MPa compressive strength, holding 263 approved patents globally (including 26 patents for the EnergyArk system).
- Integrated Clean Energy Platforms: Manages 4.0 GWh of global energy storage capacity and a 19.1% market share in Taiwan’s E-dReg electricity trading market.
- Diversified Regional Footprint: Cement, clinker, and concrete operations span Europe (Cimpor, Oyak Cement), Asia (Taiwan, Mainland China), and Africa (Cameroon).
- Sustainability Standards & Governance: Validated by the Science Based Targets initiative (SBTi) under a 1.5ยฐC decarbonization pathway, alongside an “AAA” Taiwan Impact Profile rating and ISO 37001 Anti-Bribery certification.
Key Challenges and Risks
- Operational Safety & Catastrophic Event Risks: The battery factory fire at Molie Quantum Energy on July 14, 2025, alongside minor incidents at the Su’ao Plant and Tainan RMC facility, highlight operational safety risks, leading to management salary reductions and stricter safety protocols.
- Transition Risks (Carbon Pricing & Regulations): Under Business-As-Usual (BAU) scenarios without decarbonization, TCC’s estimated financial exposure to carbon fees, taxes, and trading mechanisms could reach NT$2.067 billion in the short term, NT$7.349 billion in the medium term, and NT$11.608 billion in the long term.
- Financial & Insurance Pressures on Coal-Fired Assets: As financial institutions restrict underwriting for thermal coal assets, the Ho-Ping Power Plant (scheduled for decommissioning by 2040) faces potential asset exposure of NT$4.074 billion in the short term and NT$3.179 billion in the long term due to reduced insurance support.
- Physical Climate Risks (Extreme Precipitation & Flooding): Under the IPCC SSP5-8.5 climate scenario, 10 operating locations in Taiwan, 5 in Mainland China, and 15 across Europe (Cimpor/Oyak) face flooding risks, representing potential long-term financial exposure of NT$3.414 billion.
- Mainland China Real Estate Adjustments: Ongoing adjustments in the Chinese property sector continue to impact demand, requiring capacity replacement and asset consolidation.
CLIMATE & REGULATORY RISK EXPOSURE
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโฌโโโโโโโโโโโโโโโโโโโโโโโโโ
โ Risk Classification & Description โ Disclosed Exposure โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโผโโโโโโโโโโโโโโโโโโโโโโโโโค
โ R1: Carbon Pricing / Fees / CBAM (BAU Long-Term Impact) โ NT$11.608 Billion[cite: 1] โ
โ R2: Financial & Insurance Underwriting Constraints โ NT$4.074 Billion (ST)[cite: 1] โ
โ R9: Physical Extreme Precipitation & Flooding Impairment โ NT$3.414 Billion (LT)[cite: 1] โ
โโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโโดโโโโโโโโโโโโโโโโโโโโโโโโโ
Conclusion and Strategic Outlook
TCC Group Holdings CO., LTD. marks its 80th anniversary amid a transition from traditional cement manufacturing into an eco-industrial conglomerate. While FY 2025 financial results were impacted by the Molie Quantum Energy fire loss, the Group maintained an investment-grade “BBB-” credit profile and generated NT$33.192 billion in operating cash flow.
Supported by international assets in Portugal, Tรผrkiye, and Cameroon, proprietary UHPC materials science, a 4.0 GWh energy storage portfolio, and SBTi 1.5ยฐC validation, TCC is positioning its industrial operations to support low-carbon infrastructure, urban circularity, and clean energy systems.
Official Site: TCC Group Holdings Official Website
