Taiwan Pelican Express Co Ltd (台灣宅配通) rose nearly 52 percent on its trading debut on the Taiwan Stock Exchange yesterday, after raising NT$397.74 million (US$13.41 million) in its initial public offering (IPO).
The firm’s shares closed at NT$63.8 on its first day of trading on the main bourse, after peaking at NT$64, far above its IPO price of NT$42. The benchmark TAIEX closed the day 0.86 percent lower.
On Wednesday, the Taipei-based subsidiary of Teco Group (東元集團) saw its stock close at NT$64.29 on the GRETAI Securities Market. The stock has risen 112.1 percent so far this year, according to data from the Taiwan Stock Exchange.
The debut saw Pelican become the first home delivery service provider to list on local stock market. The company holds an approximately 18.3 percent share of Taiwan’s courier delivery services market, behind President Transnet Corp (統一速達), with 47.1 percent, and Chunghwa Post Co (中華郵政), which has 23.9 percent, statistics compiled by Yuanta Securities Co (元大證券) showed.
President Transnet is a courier delivery service provider held largely by President Chain Store Corp (統一超商), the operator of 7-Eleven convenience stores in the nation, while Chunghwa is a state-run entity under the jurisdiction of the Ministry of Transportation and Communications.
Pelican is planning to expand its logistics business on both sides of the Taiwan Strait and develop its low-temperature food delivery service in a bid to secure long-term growth drivers and lift its profit margins, the company told an investors’ conference last month.
Pelican posted a net profit of NT$132.94 million, or NT$1.55 per share, in the first three quarters of the year, down 13.6 percent year-on-year due to deteriorating operating profit and margin erosion.
Consolidated revenue totaled NT$2.34 billion in the first 11 months, up 0.72 percent from a year earlier, company data showed.
Jih Sun Securities Investment Consulting Co (日盛投顧) yesterday said in a note to clients that it forecast Pelican’s gross margin to decline to 21.91 percent this year from 23.5 percent last year amid fierce market competition.
The company’s net profit will likely fall 28.4 percent to NT$174 million from last year, or earnings per share of NT$1.82, with revenue increasing only 0.9 percent to NT$2.57 billion, Jih Sun analyst Wayne Chen (陳有裕) said.
However, Pelican’s net profit for next year is set to rise 16.3 percent to NT$202 million, or NT$2.12 per share, while revenue is to grow by 13.1 percent to NT$2.91 billion thanks to the upward trend in e-commerce activities in Taiwan, Chen said.
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
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],”
Sales in the retail, and food and beverage sectors last month continued to rise, increasing 0.7 percent and 13.6 percent respectively from a year earlier, setting record highs for the month of March, the Ministry of Economic Affairs said yesterday. Sales in the wholesale sector also grew last month by 4.6 annually, mainly due to the business opportunities for emerging applications related to artificial intelligence (AI) and high-performance computing technologies, the ministry said in a report. The ministry forecast that retail, and food and beverage sales this month would retain their growth momentum as the former would benefit from Tomb Sweeping Day
Thousands of parents in Singapore are furious after a Cordlife Group Ltd (康盛人生集團), a major operator of cord blood banks in Asia, irreparably damaged their children’s samples through improper handling, with some now pursuing legal action. The ongoing case, one of the worst to hit the largely untested industry, has renewed concerns over companies marketing themselves to anxious parents with mostly unproven assurances. This has implications across the region, given Cordlife’s operations in Hong Kong, Macau, Indonesia, the Philippines and India. The parents paid for years to have their infants’ cord blood stored, with the understanding that the stem cells they contained