Started business at the age of 40, and turned 60 in a flash. Twenty years, it is not long but quite a story. Let me slowly talk about this long story’s up and downs!

1999/10/1 PSI got company business license, started from capital NT$ one million, began PSI-20 starting point, and increased to NT$ 42 million next year. During entrepreneurship usually there is no sense of financial concepts and crisis awareness. As soon as we bought the first product equipment, there are almost nothing left. We didn’t have the concept of cash flow requirement and turnover safety cash. According to planning there are profit every month, so the capital accumulation can letting the company operations run smoothly. Not aware of the need of working capital and the preparation of safety funds. Helplessly, during starting encountered the test of the 2000 recession and large number of industries moving to mainland China, There are about NT$ one million cash gap each month. The start-up company can’t get help from the bank, filled all my savings, but still couldn’t fill the money gap. Thanks for the help of my relatives and friends, continued to fill the gap, during the time of run out, God’s mercy! The company cash flow are balanced! The first test is knowing financial management, the cash flow balance does not come from the company’s profit. The income will have a ticket time and the expenditures will be timely. So the company’s capital not only the asset allocation need cash, but also need to consider the cash amount difference between income and expense and storage. Solidly, take a first lesson of entrepreneurship.

Smoothly, passed God’s first lesson, PSI faced the second test after one year. Most customers order moved to Mainland China because cost consideration. Revenue almost dropped to half in 2003. But because other customers steady orders, the result still remained profit at the end of the year. Therefore, PSI established business strategy of small medium volume, multiple products, and high-quality route.

Running company will meet bad debt risk. PSI is same as many firms to meet serious bad account problem. In the past 20 years PSI also can’t avoid to meet serious bad debt problem. PSI expanded the production base to Mainland China in 2006. Because of this expand cooperation relationship, the company with 70 million shares has bad debited for 30 million, almost out of business! To deal with this crisis that may close business, for the first time PSI find a rental company to do equipment mortgage, God’s mercy, because one of our customer’s revenue grew up rapidly, the bank didn’t take any action, PSI improved a big step to know the management of financial crisis from this experience.

The bad debt event, let my heart full of negative emotions, I thought having a company invested by listed company should be safe. But when this company goes wrong, this listed company can completely cut off with no morality. The conflict of morality and benefits value concept caused unbalance in my heart for about 5 years. Until I was baptized by Catholic Christian, knowing God’s test and fulfillment. Then, I let it go, Thanks for the rich man without morality giving me the chance to know reflection and improvement.

PSI also encountered production quality problem caused customer a big amount compensation. A customer stopped to pay all of the payments for product quality problems in 2011. Even we did some research and provide the evidences that it’s caused by customer design problems. They still didn’t pay the bill. We tried to sue them, but the fee is same as the debt. We accepted the test from God again and stopped to argue with the customer finally. And tried very hard to fill this bad debt. There was another same event later. We flew over the Pacific Ocean as soon as the quality problem occurred. It was solved after face to face with the customer and got better confidence from customer. The so called a losing maybe a blessing.

Most of Taiwanese banks vigorously promoted TRF operation in 2012. PSI is a better structure middle range business, and become a target for each bank fight for to invest TRF. The TRF business crashed in 2014. PSI got a biggest business loss. The painful lesson made us fully aware of the risks of derivative commodities. More importantly we experienced the real face of some bank will open umbrella in sunny day but close it when raining. Also, it becomes an experience and ability for the company to select good cooperative banks.

Through many hard time, PSI really thanks for the taken care of God. Solved all of the problems one by one, rise from the ashes and become stronger and stronger. We started with30 employees, and expanded to 500 employees both Taiwan and China now, take care many families for God. Wish PSI can be grown up continuously and let more people can steady survive in PSI. More importantly, live in the basis of morality. And in material, emotional, rational and spiritual life.