| Legislative： |
1. Issued full text (15 articles), and enacted by Order Jing-Gong-Zi No.10604601870 of the Ministry of Economic Affairs on May 4, 2017.
2. Amended Articles 2、4、7~9 and 11, and enacted by Order Jing-Gong-Zi No.10704605530 of the Ministry of Economic Affairs on October 8, 2018.
3. Amended Articles 7 and 8, and enacted by Order Jing-Chan-Zi No.11351001000 of the Ministry of Economic Affairs on February 5, 2024. |
| Content： |
Article 1
These Guidelines are promulgated to govern the Ministry of Economic Affairs’ (“Ministry”)
provision of comments on the applicants’ marketability to help the Financial Supervisory
Commission process applications for listing on Taiwan Stocks Exchange Corporation (TWSE) and
Taipei Exchange (TPEx) by domestic or foreign science and technology enterprises or cultural and
creative enterprises overseen by the Ministry.
Article 2
Where an applying company is in a manufacturing industry overseen by the Ministry or an
industry providing relevant technical services to the manufacturing industry, the applicant shall meet
the following respective requirements:
(1) For a company that has successfully developed products in the biotechnological industry, the
pharmaceutical industry, or the medical or healthcare industry:
1.The applicant has the permit of the competent authority to conduct first-in-human clinical trials or
field trials, or is engaged in R&D regarding the biotechnological industry or the medical or
healthcare industry, and has manufactured relevant biotechnological, medical or healthcare products
or provided relevant technological services.
2.The applicant is engaged in relevant R&D activities and obtained R&D results, and its R&D
expenses for the year before the year of application reach three percent of its total net operating
revenue from within that year, or its R&D expenses for the year before the year of application reach
10 percent of its paid-in capital, and it hires at least five full-time R&D employees each with a
college degree or higher.
3.The applicant’s products are products of an emerging industry, and the extent of its relevant
technical services has reached a level enabling it to make products or provide services. However,
where the applicable laws or regulations require the applicant to obtain the competent authority’s
permission or certification before selling any of its products or conducting first-in-human clinical
trials or field trials of such products, the applicant shall obtain such permission or certification for
selling or testing the products.
4. The applicant’s products or technical services already have sales in the market or are likely to be
commercialized within the coming three years, and the applicant can present market survey reports
as proof.
(2) For a company that has successfully developed internet products:
1. Its net revenue from internet-related (or cultural and creative) operations for the year before it
files the application accounts for 50 percent or more of its total net operating revenue in that year.
2. Its management team is capable of continuous innovation and development.
3. Its products are creative and based on operating process systems, tools, contents or knowledge
bases developed or integrated by itself.
4.The utilization rates of its products must have potential for growth and its products are attractive
for re-utilization.
(3) For a company that has successfully developed products other than those set forth in the
preceding two paragraphs:
1. Its net operating revenue from products of emerging industries and the relevant technical services
in the year before it files the application accounts for 50 percent or more of its total net operating
revenue from that year.
2. It has an R&D department and has gained R&D results, and its R&D expenses for the year before
it files the application accounts for three percent or more of its total net operating revenue in that
year or reach NT$70 million.
3. It has reached a level enabling it to make the products or provide services, these products or
services already have sales in the market or are likely to be commercialized within the coming three
years, and the company can present market survey reports as proof.
(4)For a company that has successfully developed certain technologies:
1. The technologies it has developed are for making products of emerging industries, or technical
services regarding those products.
2. It has an R&D department, and its R&D expenses for the year before it files the application
account for 10 percent or more of its paid-in capital in that year or reach NT$40 million.
3. It hires at least 15 full-time R&D employees each with a college degree or higher, or having
relevant experience.
4. The technologies it has developed are visionary technologies and have market value, and it has
obtained legitimate patents on, intellectual property rights to, or other marketable results for the
technologies, as proved by relevant market value assessment reports issued by colleges, universities,
research institutes, intellectual property service companies or experts.
Article 3
The applying company is in a cultural and creative industry overseen by the Ministry, and its net
revenue from products or services in the industry in the preceding year accounts for 50 percent or
more of the company’s total net operating revenue in that year, and it meets one of the following
requirements:
(1) Its management team is capable of continuous innovation and creation.
(2) Its products or services are creative or are integrated, cross-industry, or otherwise have
marketable results.
(3) The use or reading/listening of its creations has market potential, and steady operating and
marketing models have been established for the creations.
Article 4
The applying company is a renewable energy-based power generation company overseen by the
Ministry and engaged in operating a renewable energy-based power plant and the planning, design,
installation, construction, supervision of the construction, and operation and maintenance of such a
power plant and its equipment and systems, and meets the following requirements:
(1) Its registered business scope covers at least electrical power generation (Item D101011) or the
manufacture of self-use power generation equipment utilizing renewable energy (Item D101060).
(2) It has a total domestic installed capacity of over 40,000 kilowatts at the time of application, and
has obtained certification of a wholesale tariff for the power it generates.
(3) In the year of application or the preceding year, its revenue from domestic renewable
energy-based power generation must reach NT$200 million, and its net operating revenue from
domestic or overseas renewable energy-based power generation and the relevant technical services
accounts for 50 percent or more of its total net operating revenue. Of the power purchase/sale
contracts it has entered into, the remaining duration of the contracts that cover at least three-fourths
of the total installed capacity of renewable energy-based power generation shall account for at least
one-half of the duration of such contracts.
(4) The applicant proposes a plan for installing domestic renewable energy-based power generation
equipment within the coming five years and presents relevant financial forecasts and analysis
reports to prove its potential of future profits, and within the coming three years, its pre-tax net
profit would account for at least five percent of its capital stock in two consecutive years, or its
average pre-tax net profit would account for five percent or more of its capital stock and its
profitability would grow year by year.
Article 5
An applying company shall provide the following documents in Chinese for the evaluation of its
application:
(1) Fifteen duplicates of its self-evaluation report.
(2) Where a company files an application as a successful technology developer or a company in the
cultural and creative industry, it shall also present the relevant market assessment reports issued by
colleges, universities, research institutes, intellectual property service companies, or experts.
(3) Other documents designated by the Ministry.
Article 6
If, during the evaluation of its application, an applicant adjusts its operations, terminates part of its
business, splits its business to form a new company, is transferred to another company, or is merged
with another company, its net revenue from products or services of technology enterprises or
cultural and creative industries, its total net operating revenue, and its R&D expenses in the
preceding year may be calculated on the basis of its remaining business scope.
Article 7
The Ministry shall organize evaluation panels comprising the following members to review
applicants in respective industries:
(1) The evaluation panel for manufacturing enterprises or relevant technical service enterprises shall
comprise 15 to 20 standing members, including the Director General or the Deputy Director General
of the Industrial Development Administration as an ex officio member, and experts from the
relevant government agencies, academic institutions and research institutions. The panel for
evaluating a project in a particular industry shall comprise 10 to 16 project members, including
industrial experts and/or standing members of the evaluation panel.
(2) For the evaluation of applications by cultural and creative enterprises or renewable energy-based
power generation enterprises, the evaluation panel shall be organized and convene meetings,
depending on the characteristics of individual applications.
The members of the evaluation panel shall be adjusted from time to time in light of the industry
concerned. If a panel member can no longer perform their duty after they employed by a private
enterprise or for other reasons, the relevant agency under the Ministry may discharge them.
Article 8
In order to issue evaluation opinions, the Ministry shall convene evaluation meetings to evaluate
applications in light of the industry concerned. Each evaluation meeting shall have six to eleven
members selected in accordance with the following provisions:
(1) For evaluating applications from manufacturing enterprises or relevant technical service
enterprises, the members shall comprise the Director General or the Deputy Director General of the
Industrial Development Administration as the chairperson, and two to four selected standing
members and four to six selected project members.
(2) For evaluating applications from enterprises in the cultural and creative industry, the
members shall comprise a staffer nominated by an agency under the Ministry as the chairperson,
and five to seven members who are representatives of the authorities overseeing the industry, or
scholars or experts, and such scholars or experts shall be selected from among senior officers
overseeing marketing, publication, marketing channels, or distribution in government agencies,
academic institutions, research institutions or relevant industries.
(3) For evaluating applications from renewable energy-based power generation enterprises, the
members shall comprise the Director General or the Deputy Director General of the Energy
Administration of the Ministry as the chairperson, and five to seven experts.
If the chairperson under any of the preceding paragraphs is unable to preside over an evaluation
meeting, a member nominated by the chairperson shall act in their stead. In the absence of such a
nominee, the members present shall elect a member from among themselves to preside over the
meeting.
Article 9
The chairperson under the preceding article shall preside over the evaluation meeting. Each member
shall attend the meeting in person. An evaluation meeting for an application shall not start unless it
is attended by more than one-half of the total members responsible for evaluating the application.
The agency concerned under the Ministry shall have its representatives attend the meeting to give
explanations. Resolutions at the evaluation meeting shall be adopted by sealed name-bearing ballot
cast by the members. The chairperson shall cast their vote. A resolution at an evaluation meeting
shall be adopted by a majority vote of the members present at the meeting.
Article 10
Before holding an evaluation meeting for an application, the Ministry shall make a preliminary
review of an application based on the industry concerned.
(1) Where the applicant is in the manufacturing industry or a relevant technical service industry, and
is applying as a successful technology developer, a preliminary review of the application shall be
conducted by experts. Where the applicant is applying as a successful product developer, the
necessity for preliminary review of the application shall be decided on a case-by-case basis. To
conduct the preliminary review, two of the selected project members shall join the representatives of
the relevant agency under the Ministry in a field survey.
(2) Where the applicant is in the cultural and creative industry, the preliminary review shall be
conducted by having two experts in cultural and creative publication, brokerage or marketing, or
relevant fields join the representatives of the in-charge agency under the Ministry in a field survey.
(3) Where the applicant is renewable energy-based power generation enterprise, the preliminary
review shall be conducted by having two or more experts join the representatives of the in-charge
agency under the Ministry in a field survey.
Where the applicant is a foreign company, the field survey may be conducted at no more than two
places.
After a preliminary review is concluded, the experts shall present a preliminary review opinion for
the reference of the members of the evaluation meeting.
Article 11
The members attending an evaluation meeting shall comprehensively review all the documents
submitted by the applying company and the preliminary review opinion presented by the experts.
Article 12
If a member about to attend an evaluation meeting is related to an applying company or its
responsible persons as set forth under Article 32 of the Administrative Procedure Act or is otherwise
conflicted, the member shall recuse himself/herself from the meeting. And the applying company
may apply for recusing the member from the meeting in accordance with Article 33 of the
Administrative Procedure Act.
Staffers of the Ministry, members of the evaluation meeting, and preliminary reviewers shall each
be responsible for keeping confidential all the information coming to their knowledge in
performance of their duties under these guidelines. Members attending evaluation meetings or
conducting preliminary reviews shall each sign a non-disclosure agreement.
Article 13
If it is necessary to understand the status of the developments or sales of an applying company’s
products or services, or whether the company’s operational model is novel and marketable, the
personnel concerned in the company may be invited to attend the evaluation meeting and give
explanations and answer questions or supplement information in Chinese.
Article 14
The Ministry shall deliver written outcomes of the evaluations to the Taiwan Stock Exchange
Corporation or Taipei Exchange for reference.
If the evaluation meeting decides to give an applicant a time limit for supplementing its application
for further evaluation, the applicant shall be notified of the time limit for submitting the
supplemental information. Where the applicant fails to make the supplemental submission within
the time limit, the Ministry will forthwith deliver the written outcome of the evaluation to the
Taiwan Stock Exchange Corporation or Taipei Exchange.
Article 15
Where a company has withdrawn an application or its application has failed the evaluation, it may
file a new application by submitting its CPA-audited financial statements for the new year or
CPA-reviewed financial statements for the new half year.
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