Shares of Cyber Power Systems Inc (碩天科技), one of the three largest uninterrupted power system (UPS) and inverter brands in the US, yesterday rose 70 percent to close at NT$143 per share after its first trading day on the Taiwan Stock Exchange (TWSE).
It was the highest closing price among its power supply peers and higher than the Nangang, Taipei-based company’s close of NT$133 per share traded on Tuesday — its last day on the GRETAI Securities Market before moving.
Cyber Power would accelerate its expansion via mergers and acquisitions, company president Michael Ho (何濂洵) said yesterday at a listing ceremony before the market opened.
The company also vowed to tap into European and African markets next year by taking advantage of its success and experience in the US, Ho said, adding that the company had seen a “very sweet” margin from sales of emergency power systems to countries such as Algeria and Nigeria.
He said that the company would soon beef up product lines, distribution centers and outlets to boost sales, adding that its products were available at up to 80 percent of US retailers including Best Buy, Wal-Mart, Circuit City and Radio Shack.
Cyber Power would also tap into solar power storage systems next year, he said.
However, the company is still in the early stage of tapping into Chinese markets by supplying Best Buy’s outlets there, Ho said.
Cyber Power reported a 12 percent year-on-year decline to NT$2.89 billion in sales for the first nine months of the year, including NT$313.6 million in net profit, or NT$4.38 per share.
The company’s margin, however, improved to 42.2 percent in the first quarter of this year, up from 36.7 percent one year earlier.
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