Fri, Jun 29, 2018 - Page 11 News List

Taiwan Business Quick Take

Staff writer

MOBILE

HTC, China Mobile ink deal

HTC Corp (宏達電) yesterday said it has signed an agreement with China Mobile Ltd (中國移動通信) to work together on a 5G program in China. “The program aims to launch the first batch of pre-commercial 5G devices for a large-scale trial application showcase, encompassing applicable scenarios for 5G devices, product configuration, technical solutions, testing and verification and product research and development,” HTC said in a statement. By collaborating with China Mobile, HTC said it aims to advance the development of 5G technologies, as well as accelerate mass adoption of virtual-reality and augmented-reality devices.

ELECTRONICS

Chilisin net profit skyrockets

Chilisin Electronics Corp (奇力新), the nation’s largest power inductor manufacturer, yesterday reported record net profit of NT$274 million (US$8.96 million) for last month, up 119 percent year-on-year. Earnings per share were NT$1.15, the company said in a filing with the Taiwan Stock Exchange. Revenue also increased 35 percent annually to NT$1.37 billion, also a record high. In the first five months of this year, net profit totaled NT$702 million, or earnings per share of NT$2.95, Chilisin said in the filing.

FITNESS

Johnson Health optimistic

Johnson Health Tech Co (喬山), the No. 3 fitness equipment maker in the world, yesterday said it expects revenue to increase by a double-digit percentage this year on the back of stable orders in the first half of the year. The Taichung-based company said it would forge close collaboration with key clients in China, Europe, Canada, Australia and the US, and continue new product launches targeting young consumers. It made the remarks after shareholders approved a plan to distribute a cash dividend of NT$0.3 per share. It reported net profit of NT$130 million for last year, or earnings per share of NT$0.43.

ELECTRONICS

AUO secures NT$42bn loan

AU Optronics Corp (AUO, 友達光電) yesterday said it has obtained a syndicated loan of NT$42 billion. The proceeds are to be used to repay debts, it said. A total of 25 banks are participating in the syndicated loan, which was arranged by state-run Bank of Taiwan (台灣銀行), it added.

HOSPITALITY

Cosmos to launch third hotel

Cosmos Hotel & Resorts Group (天成飯店集團) is to launch its third creative hotel, Hua Shan Din (華山町), on July 12, the group said in a statement. The hotel is to have 72 guest rooms with an average room rate of NT$3,600 per night. Hua Shan Din is near Taipei’s MRT Zhongxiao Xinsheng Station and would target local and foreign travelers, the statement said.

INSURANCE

Cathay Life EV rises 10%

Cathay Financial Holdings Co (國泰金控) on Wednesday said in a statement that the embedded value (EV) of its life insurance unit, Cathay Life Insurance Co (國泰人壽), as of Dec. 31 last year totaled NT$944 billion, an increase of 10 percent from 2016. Due to a capital injection last month, the number of Cathay Life’s outstanding shares rose to 5.7 billion, it said. Embedded value per share for the life insurer was NT$164.8 based on its 5.7 billion shares, while embedded value per share for Cathay Financial was NT$75.1 based on its 12.6 billion shares, the statement said.

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