GeoVision's Announces FY2019 Year-end Financial Report and Shareholders' General Assembly Date

Taipei Taiwan, March 17, 2020–GeoVision (TWSE: 3356) Board of Directors announced its audited financial reports for the financial year of 2019 ending Dec. 31.

The highlights of 2019 year-end financial report of the company are as below:

• GeoVision revenues for 2019 decreasing 6.7% to $1,381 million.
• Gross Margin was raised to 40% compared to 33% of the same period in the previous year.
• Compared to operating loss of NT$114 million, the operating profit of 2019 were NT$46.7 million showing a positive growth of 141.2% YoY in the business.
• The company had a foreign exchange losses of NT$42 million, as the value of the New Taiwan dollar turned stronger in the 2nd half of 2019 that caused currency appreciation against US dollars and Euros.
• Consolidated net profit contributed to the parent company were NT$20 million. Based on the current capital of NT$899 million, the EPS for 2019 was NT$0.22.

The board of directors also made a discussion to allocate NT$105 million from the company’s legal reserve to make up for the deficits to be compensated of NT$105 million in full. The proposal shall be acknowledged at the upcoming shareholders' assembly in June.

The general shareholders’ assembly of 2020 is scheduled to be held on June, 10 at headquarter in Neihu District of Taipei Taiwan. The board of directors also had a discussion for the nomination and re-election of new board members for the new term starting this year. The board’s re-election of 7 directors including 3 independent directors will be held at the shareholders' assembly.

Electronic voting for all shareholders is open from May 11 to June 7, 2020.