Fubon Media Technology Co. (momo.com) confronted shareholders with sobering realities at its annual meeting Tuesday, as Chairman Tsai Ming-chung described 2024 results as “unsatisfactory but acceptable” while warning that Trump administration trade policies threaten Taiwan’s domestic e-commerce sector.
Taiwan’s e-commerce market is forecast to grow by 7.9% in 2025, yet Fubon Media faces mounting pressure from cross-border platforms offering tax-free advantages and lower prices. About 19 percent of Taiwanese consumers bought items from Alibaba’s shopping platforms Taobao or Tmall, highlighting the competitive challenge facing local operators.
The company reported consolidated revenue of NT$112.56 billion (US$3.6 billion) and net profit of NT$3.45 billion (US$111 million), translating to earnings per share of NT$13.69 (US$0.44). Shareholders approved a dividend of NT$13.3 (US$0.43) per share.
Tsai cited tariff uncertainties as the market’s biggest risk factor, noting that while trade disputes don’t directly affect Fubon Media’s operations, GDP volatility dampens consumer confidence. The chairman warned of operational pressures in the first half of 2025.
Taiwan’s e-commerce penetration remains below 15%, significantly trailing South Korea and the United States at 30%. Fubon Media targets reaching 20% penetration despite intensifying competition from overseas platforms that bypass Taiwan’s tax structure.
The company launched its AI-powered “Nabai Chuan Plan” to broaden product selection and enhance pricing competitiveness, while expanding its mo shop+ network to over 7,000 partner merchants with more than 2.5 million products.
