Fashion wear firm Jinli Group Holdings Ltd (金麗集團控股) yesterday said it is planning to invest in a new plant in China’s Fujian Province next year to support long-term growth.
Jinli Group chairman Chong Chun-lung (莊春龍) made the remarks at an investors’ conference yesterday, after reporting that net profit reached NT$738.15 million (US$23.8 million), or NT$6.1 per share, in the first nine months of the year, an increase of 4.71 percent from the same period last year.
“To foster long-term growth, the group plans to launch a new plant in Zhangzhou in the second quarter next year,” Chong said.
Although many expect China’s economic growth to slow down next year, Jinli Group still anticipates strong demand for its spring and summer collections based on the response from its apparel and footwear agents, Chong said.
Total orders still recorded double-digit growth from the same period last year, with casual wear and shoes posting the strongest increases, Chong said.
The new plant will primarily make footwear, which will play an important role in the company’s long-term growth, he said.
To fund the plant’s construction, the company has issued a total of NT$1.2 billion in corporate bonds this year.
Jinli Group runs two medium-priced casual clothing and shoe brands — G-Apple and e.t — and has 18 distributors that market its products via 800 outlets in China, mainly in third and fourth-tier cities.
Since the majority of consumers in these Chinese cities prefer buying clothes and footwear at brick-and-mortar stores, Chong said the company has no plans as of now to set up an online sales channel.
Consolidated sales in the first 10 months of the year grew 10.9 percent to NT$4.7 billion, from NT$4.24 billion a year earlier, a company filing with the Taiwan Stock Exchange showed.
Jinli shares surged 3.36 percent to close at NT$70.80 yesterday, outperforming the TAIEX, which edged up 0.34 percent.
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],”