Yulon Motor Co (裕隆汽車) said yesterday its board had agreed to develop a property complex in a Taipei suburb and expected to make NT$3.282 billion (US$106.2 million) in profit within three years.
In a filing to the Taiwan Stock Exchange yesterday, Yulon said it would sell a 2,525 ping (8,347.11m2) plot of land in Sindian (新店), Taipei County, to High Tech Computer Corp (HTC, 宏達電) for NT$3.335 billion, or NT$1.32 million per ping.
HTC is the world's biggest maker of handsets running Microsoft Corp's operating system.
The two companies also agreed to jointly develop the plot, with Yulon building its headquarters while HTC would establish a new research and development center.
In a different filing yesterday, HTC said that it had signed a memorandum of understanding with Yulon to jointly develop the Sindian complex.
HTC has 1,780 employees in research and development.
Shares of Yulon rose 1.17 percent to NT$43.1 as investors responded positively to the company's announcement the previous day that it would speed up plans to develop the Sindian complex after the presidential election next month.
"We forecast that the company could see annual revenue in the neighborhood of NT$300 million from the area's commercial properties," Jesse Knutson, an equity analyst at SinoPac Securities Corp (
"We estimate that the sale of the residential properties could contribute between NT$5.58 and NT$8.12 to EPS [earnings per share] over the next three years," Knutson said.
SinoPac holds an "outperform" rating on Yulon, with a 12-month target price of NT$53.
Yulon president Chen Kuo-rong (
The first will focus on commercial real estate development while the second would be residential.
Yulon, which assembles and sells Nissan brand cars in Taiwan, is among the domestic automobile makers that have suffered bleak business in the past two years over weak consumer purchases and that are seeking new investments to improve their bottom lines.
The company said new vehicle sales should reach 320,000 units this year, compared to 326,000 units last year -- the lowest level in two decades.
Yulon reported NT$2.58 billion profit last year on a revenue of NT$24.29 billion, with an EPS of NT$1.75. That was compared to a profit of NT$2.97 billion in 2006 with an EPS of NT$2.03 that year, company data showed.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”