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Risk Management

Organizational Structure

RichWave Technology Corp. is established as a cross-unit business continuity planning (BCP) team, with the President as its convener, and representatives from each business unit participating. With the aim of preventing potential major risk incidents from harming the Company, the BCP team conducts rigorous risk assessments, formulates response strategies, arranges emergency response measures, conducts irregular drills, and continues to improve with respect to the major risks that the Company may encounter. On December 23, 2021, the Company reported to its Board of Directors on the status of the Company's risk management identification and response actions and obtained guidance and suggestions from the Board of Directors.

BCM Organization Chart

Refer to Emergency Response Team Member List(S-AD-002-04)

 

BCM Management Flow

◆BCP Flow SOP is established and BCP performance review is included in ISO 9001 management review meeting

Implementation Status

The Company's major operational risk management mechanism implemented through the BCP system mainly conducted the following projects in 2021:

  1. Pandemic Risk Management: In response to risks brought by the novel coronavirus, the Company has arranged corresponding contingency measures, regularly disinfectes, arranges for its employees to wear masks, and has taken daily body temperature readings of employees. In order to avoid the spread of the pandemic within the Company and negatively affect the Company's operations, RichWave planned work from home (WFH) and split operations systems, encouraged video conferencing and telephone communications, prohibited visitors, and stopped the commute to the Taipei and Hsinchu offices. For employees working in the Company, RichWave planned to conduct daily employee health checks, provided a flexible work system to avoid peak hours of public transportation, and recommended that employees stay indoors for meals.
  2. Risk analysis of water shortages, power shortages, and pandemic situation in each plant area is taken: The offices in Taipei, Hsinchu, and major suppliers’ plants in Taoyuan, Hsinchu, Taichung, and Tainan are analyzed. Water shortages, power shortages, and the pandemic situation are evaluated from the two dimensions of probability of occurrence and possible impact. The results are summarized as low, medium, and high risk levels. These analyses are made in order to avoid possible impact on the Company.

Practie

◆Conduct a drill to confirm if plans are workable

Level COVID-19 Level 3 Alert Effict around Taiwan
RichWave
Level 3
  1. Disinfect periodically
  2. Wear mask all the time
  3. Check temperature daily
RichWave
Policy

Admin

  1. Disinfect office area weekly
  2. Evaluate possibility of WFH or dividing workers into teams
  3. Wearing mask for all employees and venders
  4. Visiting is prohibited, and video conferences call can be approved
  5. No travel between taipei and Hisinchu office.
  6. Using phone call instead of face to face connection
  7. Gatherings 5+ people indoors are prohibited.
  8. Wearing goggles and clean hands before entering Lab, and keep
    socially-distance seat with partitions in Lab are required
  9. Lunch outside is not recommended

HR

  1. Monitoring the questionnaires of enployees' self-health and personal contact on daily
  2. Travel in epidemic area is prohibited
  3. Manage quarantine list
  4. WFH or take leave regarding to leave rules
  5. Proceed inview online
  6. Felixable working time for employees whom take public transportation

In addition, for the risk items that the Company may encounter in its daily operations, it has established risk and opportunity management procedures. SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is performed based on the Company's background. Stakeholders’ concerns and demands, are included for control in the stakeholder risk assessment form by the risk analysis task force. The high-risk items identified in 2020 include the three high-risk items of product competitiveness, price competitiveness, and supplier management. It has been planned to strengthen product auditing, establish continuous project BCP, enhance supplier management procedures and management of key suppliers’ on-site stationing, and strengthen Assembly Yield Monitoring for response.

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