Molding components maker Concraft Holding Co Ltd (康控) yesterday said it is upbeat about its auto parts business this year, but holds a conservative outlook on its optical components business.
Molding components used in automotive parts and devices for people with disabilities are expected to be the company’s next sales catalysts, spokesman Joe Huang (黃翹生) said at an investors’ conference in Taipei.
Revenue from car components is forecast to contribute 5 percent to the company’s revenue this year, compared with 1 percent last year, Huang said.
The optimism springs from the company’s receipt of a big order from a Japanese auto parts supplier, he said, with plans to start production of automotive connectors for the Japanese client by the end of June.
Concraft has also secured orders from several tier-one auto parts suppliers in Europe and the US, Huang said.
The company’s major clients include German auto parts supplier Robert Bosch GmbH and US-based Delphi Corp, a manufacturing arm of General Motors Co.
“This year, the company is to supply sensors and customized auto parts for electric vehicles in Europe and the US respectively,” Huang said.
Headquartered in New Taipei City, Concraft has an edge in the industry with its insert molding technologies.
The company has been manufacturing a wide range of precision plastic molding and metal stamping components for international customers in the optical and electronics industries, before starting its auto parts business last year.
Huang said the company is cautious about its optical components business this year, saying that the market has become saturated.
“Sales in the [optical components sector] might be flat from last year, as we have seen declining orders from our major Japanese customers,” Huang said.
Company data showed that connectors and acoustic components used in speakers and receivers remained Concraft’s two main pillars of sales last year, contributing 43 percent and 18 percent respectively.
Concraft plans to allocate nearly NT$600 million (US$19.68 million) for research and development this year to diversify its product portfolio, it said.
The company’s consolidated sales for last year rose 4.02 percent year-on-year to NT$2.5 billion.
Net profit in the first three quarters of last year plunged 30 percent to NT$78.2 million, or earnings per share of NT$0.99, the data showed.
Concraft has yet to release its audited earnings for the final quarter of last year.
Shares of Concraft yesterday rose 9.7 percent to NT$100.50 in Taipei trading, beating the benchmark TAIEX, which fell 0.28 percent to 9,902.98 points.
The stock has jumped 57.77 percent so far this year, Taiwan Stock Exchange data showed.
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