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Nien Made Enterprise (Stock Ticker: 8464, hereinafter referred to as NM or Nien Made) is a leading manufacturer principally engaged in the manufacture and distribution of various window coverings. The firm’s production bases are primarily located in China and Cambodia, and the headquarters is located in Taichung, Taiwan. NM was founded in 1974 and was the OEM manufacturer of window treatments in Lukang in Central Taiwan during our early years. During the Economic Takeoff of Taiwan in the 1990s, many young people became less willing to be engaged in traditional industries, and the lack of labor became the major bottleneck for the development of Nien Made. To break through the bottleneck, we set up factories in Guangdong in China in the mid-1990s. The capacity expansion in China fueled Nien Made’s growth for more than a decade.
New Growth Driver
In recent years, the production capacity in China has reached the full load condition. To grow, Nien Made adopted a transnational production strategy to expand capacity. Our additional production capacity in Cambodia has been put into operation since the 2014H2. We are making good use of the newly added capacities in Cambodia to serve more consumers. Further, our new facility in Mexico for custom-made window coverings also commenced operation in 2020H2. We believe that more complete multinational manufacturing will support our sustainable growth.
Solid Competence in Ready-Made Window Coverings
Window treatment products can be divided into low-priced ready-made merchandises distributed in large chain stores and high-priced custom size window coverings sold in small specialty stores. Nien Made’s products are available in large chain retailers like Home Depot and Walmart. Nien Made provides professional cutting machines of window treatments to a portion of the large chain retailers in Northern America to offer low-priced cut-to-size blinds and shades for consumers. Nien Made is the one and only Asian manufacturer with capabilities of R&D, manufacturing, service and maintenance of the professional cutting machines in large chain stores in North America, and this advantage also enables NM to have a close relationship with large retailers in North America.
Strive for Uncompromising Perfection
In addition to expanding the market shares of ready-made size window coverings, we have also penetrated our coverage of the custom-made shutters market since 2001 and set up an US subsidiary, Norman International, Inc. With thousands of improvement proposals to enhance quality and service annually, the superior quality of Norman’s products is widely recognized by interior designers and window coverings retailers. They used the subsidiary company’s name, Norman, to refer to its products. Later, Norman® was registered as a brand trademark in 2004 with its products having received 50+ global awards, from the United States Window Covering Manufacturers Association (WCMA), Japan’s Kids Design Award, and Japan’s Good Design Award, to the German Red Dot Design Awards since 2016. The patented SmartDrape™ is awarded the Best of the Best for outstanding aesthetics and innovation in the 2020 Red Dot Design Award. Our 11 regional business centers in North America and thousands of clients of specialty stores, dealers and designers have translated the operation of custom-made window coverings into solid growth driver to Nien Made.
Value A Sustainable & Better World
On December 22nd, 2015, Nien Made was relisted on Taiwan Stock Exchange (TWSE). Under the robust Net Cash Position, NM has sequentially paid cash dividends of NTD$10/share (DPS, totaling NTD$2.93bn) since 2017, and the accumulated cash dividends over the past 5 years amount to NT$14.65bn. We sequentially offer transparent information to investors. According to the evaluation from thousands of fund managers and analysts sampled by Institutional Investor Magazine, a publication valued in the capital market, NM has achieved 7 major awards in 2021 (Consumer Sector). Moreover, NM was recognized by Asiamoney as 2020 Most Outstanding Company in Taiwan in Consumer Discretionary Sector. Nien Made expects to make use of the same resources to provide consumers more fashionable and eco-friendly window coverings for sustainability. Some foreign currency deposits are also made as Green Deposits through Sumitomo Mitsui Banking Corporation(SMBC), only used for financing for environmental purposes, particularly for renewable energy. An ESG professional rating agency, Sustainalystics, issues the third-party certification/report for the verification of Green Deposits, which will further track the development of renewable energy.
Name Position Description of Responsibility Experience Education Profile
Howard Nien Chairman & CEO Setting/ implementing the organization‘s
vision/ operating decisions.
22 ■ L.L.M. - Southern Methodist University, US
■ B.L. - Tunghai University, Taiwan
Benson Pong Executive
Vice President
Planning and implementation of the Toyota Production System (TPS) through out the entire organization. 45 ■ B.S. - Hsiuping University of Science and Technology, Taiwan
Michael Nien Vice President Developing business for Big-box
stores/retailers. Responsibilities include:
product R&D, operation, sales marketing and strategies.
21 ■ M.B.A. - Boston University, US
■ B.S. - Electrical engineering, National Taiwan University, Taiwan
Ken Chuang Vice President Establishment and ongoing development of
the entire Cambodian operation.
39 ■ B.S. - National Chung Hsin University, Taiwan
Ron Nien Vice President Responsible for developing the Asian and
Australian markets.
17 ■ M.B.A. - Kellogg School of Management, Northwestern University
■ M.E.M (Master of Engineering Management) - Northwestern University
Edward Jok CFO Responsible for finance operations, profit/cost analysis, forecasting needs and the securing of new funding. 34 ■ M.B.A. - University of British Columbia
■ B.S. - University of California Berkeley, Computer Science
Oliver Chiu Vice President Responsible for developing Custom Made products and overseeing the European and African Markets. 23 ■ M.B.A. - Fullerton, California State University
■ B.S. - Fullerton, California State University
Tai-Fung Wu Vice President Responsible for the window covering R&D and fabrication in tandem with the firm’s operating strategies. 42 ■ B.S. - Mechanical Engineering, National Taiwan University, Taiwan
Ranjan Mada President-US Overseeing the complete operation for the American Custom-made sector. 42 ■ M.B.A. - University of Western Ontario, Canada
Dr. Harjit Singh President-US Overseeing the complete operation of the Sales & Marketing for the Big-box / large chain sectors. 34 ■ Ph.D. - Strategic Management, University of Tennessee
■ M.B.A. - University of South Carolina