Orient, Beijing Tide ink deal
Drugmaker Orient Pharma Co (友霖生技) yesterday said that it inked a deal with Beijing Tide Pharmaceutical Co (北京泰德製藥) to form a partnership for a dementia treatment drug.
In a filing with the Taiwan Stock Exchange, Orient Pharma said it would transfer technology knowledge to Beijing Tide and authorize the Chinese pharmaceutical company to manufacture the drug in China, as well as register the drug in both China and the US.
If the drug gains regulatory approval in China, Beijing Tide would be granted sole distribution rights for the drug in China, and the firm would provide Orient Pharma with milestone payments and royalties, the filing said. Orient Pharma would be in charge of selling the drug in the US market and share certain profits from US sales with Beijing Tide, it added.
US ruling clears nail firms
The Ministry of Economic Affairs on Friday welcomed the US Department of Commerce’s preliminary ruling that Taiwan’s steel nail firms have not engaged in any dumping activity in the US market.
The Department of Commerce said on Thursday that it found that mandatory respondents PT Enterprises Inc (裕鐵企業) and Quick Advance Inc had not sold certain steel nails in the US market at unfairly low prices. Therefore, the department said it had decided not to impose any anti-dumping tariffs against the Taiwanese exporters.
The US government is scheduled to issue a final determination on the anti-dumping investigations by May 8 next year.
Exports might hit new record
Export orders for last month have been forecast to reach a record level, in part because of strong demand for Apple Inc’s iPhone 6 and iPhone 6 Plus, the Ministry of Economic Affairs said on Saturday.
Orders last month could hit US$46 billion, compared with US$44.91 billion in October, and help record year-on-year growth in export orders for the 10th successive month, the ministry said.
The ministry previously predicted that export orders for this year would hit US$480 billion, compared with US$442.93 billion last year.
The ministry is scheduled to release the export order data today.
HTC to release new 4G Desire
HTC Corp (宏達電) plans to add a new phone to its mid-tier Desire series this week that would be compatible with 4G LTE on all 4G frequency bands (700/900/1800MHz) used in Taiwan.
Sales of the new device are scheduled to begin locally on Wednesday, HTC said, and would be the company’s first addition to the Desire family since introducing the large-screen Desire 820 dual-SIM card model early last month.
The new Desire 820 model, which only allows one SIM card, is powered by a faster 64-bit eight-core processor that can utilize more physical memory and improve user experience, according to HTC.
The new model is set to be a departure from the 5.5-inch Desire 820 dual-SIM, which offers dual SIM card support, but does not implement 4G LTE in all of the frequency bands used in Taiwan.
Adata repurchases shares
Adata Technology Co (威剛科技), the nation’s top DRAM module maker, has spent NT$300 million (US$9.51 million) on its latest share buyback program to shore up its stock price.
The company said on Friday that it has repurchased 5.8 million shares, or 64.5 percent of a buyback program announced in October, at NT$51.88 per share. Adata said it would transfer the shares to employees in an effort to boost worker morale.
Originally, the company planned to repurchase 9 million shares — at between NT$35.49 and NT$93.08 per share — from Oct. 20 to Friday on the open market.
Hotai to up stake in Kuotu
Hotai Motor Co (和泰汽車), which distributes Toyota and Lexus cars in Taiwan, said on Thursday that it plans to inject NT$836.27 million into subsidiary Kuotu Motor Co (國都汽車), which runs retail shops for Hotai.
Kuotu Motor would use the money to set up more shops in Taiwan and remodel its current retail stores, according to Hotai.
After the transaction closes on Wednesday, Hotai’s stake in Kuotu would increase to 20.05 percent from 6.39 percent, the company said in a filing with the Taiwan Stock Exchange.
ELECTRONICS Lite-On delays sale of unit Lite-On Technology Corp (光寶科技) yesterday said it would postpone the sale of its solid-state drives (SSD) business to Kioxia Holdings Corp, formerly known as Toshiba Memory Holdings Corp, due to disruptions amid the COVID-19 pandemic. Last year, the Taiwan-based electronics components supplier struck the deal with the Japanese firm, agreeing to sell the unit for US$165 million. Citing unfinished integration work due to the pandemic, Lite-On has deferred today’s closing date until further notice, adding that the delay would not have a negative effect on the unit’s operations. AUTO PARTS Hiroca approves dividend Automotive interior parts supplier Hiroca
NOT ALL GOOD: Analysts warned that other data for last month might be less rosy due to the virus and analysts expect the PMI to contract again next month Chinese factory activity saw surprise growth last month as businesses went back to work following a lengthy shutdown, but analysts said that the economy faces a challenging recovery as external demand has been devastated by the COVID-19 pandemic, while the World Bank said that growth could screech to a halt. China is slowly returning to life after months of tough restrictions aimed at containing the virus, which put millions of people into virtual house arrest and brought economic activity to a near standstill. The strict measures saw a closely watched gauge of manufacturing plunge to its lowest level on record in February,
ALL ABOUT STRATEGY: The company is optimistic, saying that its gross margin should increase year-on-year, but it is scaling back on its plans to expand capacity Quang Viet Enterprise Co (QVE, 廣越), which makes down jackets and garments for sportswear and outdoor brands including Adidas AG, yesterday said that revenue might drop 5 to 10 percent annually this year as some customers trimmed orders in response to the COVID-19 pandemic. That would mark its first revenue decline since 2016. Quang Viet posted record-high revenue of NT$16.26 billion (US$537.45 million) last year, up 22 percent from 2018. Down jackets made up 40 percent of it revenue last year. North Face Inc and Patagonia Inc are this year likely to reduce orders by 20 to 30 percent from a
Taipei 101, one of the nation’s leading shopping centers, is planning to reduce its business hours due to decreased demand amid the COVID-19 pandemic. Taipei 101 is to open daily at noon and close at 9pm from April 6, building management said in a statement on Monday. The shopping center has been opening at 11am and closing at 9:30pm from Sunday to Thursday, while closing at 10pm on Friday and Saturday. The restaurants in the food court — on the basement level — would adjust their business hours as necessary, but the supermarket would continue to open at 9am daily, management said. The shopping