Tue, Apr 10, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with AP

PASSIVE COMPONENTS

Yageo revenue surges 80%

Yageo Corp (國巨), the world’s biggest passive component supplier, yesterday said its consolidated revenue surged 80 percent year-on-year to NT$4.27 billion (US$146.2 million) last month, thanks to increasing demand in all segments. That represented month-on-month growth of 32.8 percent from NT$3.22 billion in February. The company also benefited from high-end product expansion, Yageo said in a statement. In the first quarter, revenue surged 62 percent year-on-year to NT$11.03 billion. Yageo expects profits to grow for the rest of the year, backed by further product mix optimization and increasing demand for high-end products.

FLAT PANELS

Innolux revenue falls 28%

Innolux Corp (群創), the flat-panel manufacturing arm of Hon Hai Precision Industry Co (鴻海精密), yesterday posted revenue of NT$22.58 billion for last year, a year-on-year decline of 28 percent from NT$31.35 billion due to falling panel prices. On a monthly basis, revenue grew 24.9 percent from NT$18.08 billion. In the first quarter, revenue slid 22.4 percent to NT$66.8 billion from NT$86.03 billion during the same period the previous year. Compared with the fourth quarter of last year, revenue declined 15.6 percent. Shipments of large flat panels shrank 8.1 percent quarter-on-quarter to 28.07 million units last quarter, while small and medium panel shipments contracted 7 percent to 68.57 million units.

FINANCIAL SERVICES

CDFHC income soars 77%

China Development Financial Holding Corp (CDFHC, 中華開發金控) yesterday reported that net income in the first quarter rose 77 percent year-on-year to NT$3.19 billion as the company profited from its direct investments and the contribution of China Life Insurance Co (中國人壽), in which it has a 34.96 percent stake. Earnings per share were NT$0.22. However, the company reported that its lending arm, KGI Bank (凱基銀行), incurred a loss of NT$283 million due to a spike in global market volatility. Separately, E.Sun Financial Holding Co (玉山金控) reported that its net income in the first quarter rose 25.2 percent year-on-year to NT$4.67 billion on the back of steady loan growth and rising fee income. Earnings per share were NT$0.46.

ELECTRONICS

Acer hit by FX losses

Acer Inc (宏碁) yesterday said that its consolidated revenue inched up 1.42 percent year-on-year last month to NT$22.64 billion, bringing the total revenue for the first quarter to NT$54.77 billion. Last quarter’s revenue slid 2.25 percent year-on-year from NT$56.03 billion due to an unfavorable foreign exchange rate, the firm said. Excluding the foreign exchange factor, revenue would have grown 3.52 percent, Acer said in a statement. Acer attributed the revenue growth primarily to robust demand for its gaming PCs, which saw revenue surge 60 percent year-on-year.

INTERNET

China bans four news apps

Chinese state media reported that four popular news apps have been temporarily removed from Google Play following an order from regulators. The Web site of the Beijing Daily said Toutiao (今日頭條), Phoenix News (鳳凰新媒體), NetEase News (網易新聞) and Tiantian Kuaibao (天天快報) had been suspended yesterday. It said Toutiao would be suspended for three weeks and resume services on April 30, while Phoenix News would be taken down for two weeks, NetEase News for one week and Tiantian for three days.

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