Taipei Mayor Ke Wenzhe and Taipei Mayor-elect Jiang Wanan recently attended a municipal handover seminar.

(Photo by reporter Tian Yuhua)

[Reporter Cai Yahua/Taipei Report] EasyCard announced today that the board of directors has passed the submission of the application for registration and will send the documents before the end of the year at the earliest. It will be the first company to list electronic tickets.

Blue and green Taipei city councilors questioned the motives. KMT councilor Xu Hongting pointed out that major shareholders may lose confidence in EasyCard’s future profitability and sell their shares in order to sell shares; Democratic Progressive Party councilor Jian Shupei criticized the poor performance of the EasyCard company during Taipei Mayor Ke Wenzhe’s tenure. Who is responsible for the worsening of Shangxing cabinets in the future?

Ke Wenzhe basically set up a bureau for the new mayor Jiang Wanan.

Currently, the largest shareholders of EasyCard Company are Taipei City Government and Taipei Metro Corporation, with public shares accounting for about 39.27%. Therefore, the personnel matters of the chairman and general manager have always been decided by the city government. Other shareholders include Metropolitan Bus, Taipei Fubon Bank, Cathay United Bank, Taishin Bank, Shentong Computer, and Zhonghua Consulting Engineering, etc., are composed of three major industries: mass transportation, finance, and systems.

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Chen Tingru, chairman of EasyCard Company, said that EasyCard is the largest national payment brand in Taiwan. After entering the capital market, the operating results have the opportunity to be shared with the whole people.

EasyCard has a capital of 700 million yuan, issued more than 150 million stored-value cards, and a total deduction of 52.5 billion yuan in electronic payment business. It is a leading brand in electronic payment. Even in recent years, it has maintained stable profits despite the impact of the epidemic. Digital transformation is also paying off.

Chen Tingru said that stepping into the capital market will help expand the capital scale in the face of competition in the future and enhance the advantages of strategic cooperation; after the Easy Card Company completed the public offering in accordance with legal requirements on June 24 this year, the board of directors established a promotion team to start the listing cabinet evaluation plan, and Driven by the resolution of the board of directors, it took half a year to complete the first phase of preparation for registration and opening up.

Xu Hongting pointed out that the earnings of Easy Card companies have not been good in the past few years, and last year it was only close to 10 million yuan. In the stock market, the profitability determines the stock price. If the profit is not good, there is not much benefit in going to the stock market. The only advantage is that the stock has local deals.

Xu Hongting believes that if Shangxing Cabinet is initiated by directors and shareholders not sent by the city government, the signal is that the existing major shareholders have lost confidence in the Easy Card Company, sold their shares to solve the problem, and are not optimistic about the profitability of the Easy Card Company, so they want to leave the market. The government sent directors to launch, obviously taking advantage of the late stage of the Keshi government's inaction, and taking advantage of this surprise to "leave a legacy".

Jian Shupei said that the Taipei City Government is the largest shareholder of the EasyCard company, because the city government and related units have made so much profit. Now that they are applying for a new company, the use of funds and profits cannot be as good as in the past, and they must go to the market to raise funds.

The Ke City government only applied in the final stage of its administration. It disrespected the new mayor and bullied Jiang Wan'an. Why did the new mayor pay for the previous decision.

Jian Shupei said that if the performance and profit performance of the Shangxing cabinet next year is getting worse and worse, it is the responsibility of Jiang Wanan or Ke Wenzhe, and the Easy Card Company intends to use the Shangxing cabinet to break away from the supervision of the Easy Card company by the parliament. Performance has become a secret, and the Easy Card company should not make a decision here at all. It should be left to the new mayor to decide whether to go to the cabinet. I am afraid that Jiang Wan'an should grasp it well.

The Board of Directors of the Easy Card Company submitted an application for registration in Xingcai, but the blue-green north city councilors questioned the motive.

The picture shows the 20th anniversary activities of EasyCard Company.

(Provided by EasyCard Company)