Hon Hai buys G-Tech stake
Hon Hai Precision Industry Co (鴻海精密), the world's largest contract maker of electronics, invested NT$810 million (US$25 million) for a 42.44 percent stake in G-Tech Optoelectronics Corp (正達國際光電), a glass-processing maker whose glass products are used in copying machines, computer monitors and flat-screen televisions.
Taipei-based Hon Hai made the investment through four wholly owned investment subsidiaries by buying G-Tech's shares in a private placement, Hon Hai said in a filing to the Taiwan Stock Exchange yesterday.
G-Tech is based in Miaoli County. Innolux Display Corp (群創光電), also based in Miaoli, is the world's second-largest maker of liquid-crystal-display (LCD) computer monitors in which Hon Hai is the biggest shareholder.
Forex reserves increase
The nation's foreign exchange reserves totaled US$262.94 billion at the end of last month, up from the US$261.37 billion recorded in the preceding month, the central bank said yesterday.
The sequential increase reflects returns from foreign exchange reserves management and a net inflow of foreign capital, the central bank said in a statement.
Meanwhile, Japan's foreign exchange reserves hit an all-time high of US$945.60 billion at the end of last month, buoyed by rises in prices of US government bonds and a stronger euro, the Japanese government said yesterday. Tokyo's reserves are the second-largest in the world after China.
HTC posts 10% profit jump
High Tech Computer Corp (HTC, 宏達電子), the world's largest maker of mobile-phone handsets using Microsoft Corp's Windows operating system, posted a 10 percent increase in third-quarter profit.
Net income rose to NT$7.38 billion (US$226 million) from NT$6.71 billion a year earlier, the Taoyuan-based company said yesterday in a statement.
HTC shares rose for the eighth trading day, gaining 2.6 percent to NT$595 in Taipei, before the announcement.
AU Optronics riding high
Driven by record shipments, AU Optronics Corp (友達光電), the nation's largest flat-panel maker, yesterday posted record high monthly sales last month with preliminary consolidated revenue reaching NT$53.73 billion (US$1.65 billion), a 21.8 percent increase from August and up 92.6 percent from a year ago.
Shipments of large-sized panels used in desktop monitors, notebook computers, LCD TVs and other applications for last year set a new record of 8.18 million units, a 13 percent increase from August and also a new record-high shipment for the seventh consecutive month, according to a company statement.
Small and medium-sized panel shipments presented a 3 percent decline from the previous month, to 14.16 million units, it said.
AU Optronics' unaudited consolidated and unconsolidated revenues for the third quarter respectively totaled NT$137.96 billion and NT$137.85 billion, both representing 30.1 percent growth from the second quarter and significant year-on-year growth of 93.5 percent and 93.3 percent respectively, the company said.
Chinese film company to list
Leading private Chinese movie company Huayi Brothers (華誼兄弟影業公司) plans to list in China or Hong Kong next year, a news report said yesterday, citing the company's co-president.
Hollywood trade publication Variety also quoted Wang Zhonglei (王中磊) as saying on the sidelines of the Pusan International Film Festival in South Korea that Huayi Brothers plans to get into the movie theater business.
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