TAIEX falls on Apple fears
Local shares yesterday closed lower as selling focused on Taiwanese suppliers to Apple Inc, after smartphone camera lens maker Largan Precision Co (大立光) reported disappointing sales for last month, dealers said. The Nikkei reported earlier that Apple told Hon Hai Precision Industry Co (鴻海精密) and Pegatron Corp (和碩) to halt plans for additional production lines dedicated to assembling its lower-priced iPhone XR. The report, which cited unidentified people familiar with the matter, said Hon Hai’s production would be down 20 to 25 percent from its original outlook. Last week, Apple gave a tepid outlook for its holiday quarter and said it would stop providing unit sales for iPhones, iPads and Macs in the next fiscal year. The TAIEX closed down 64.86 points, or 0.66 percent, at 9,824.95, after moving between 9,782.86 and 9,899.97. Turnover was NT$116.88 billion (US$3.8 billion). Market sentiment has turned cautious ahead of yesterday’s midterm elections in the US and amid uncertainty on global markets, dealers said.
HTC revenue rises
Smartphone maker HTC Corp (宏達電) yesterday reported that revenue last month rose 4 percent month-on-month to NT$1.31 billion, halting a streak of losses in the previous four months. However, the company’s revenue last month was 78.44 percent lower compared with the previous year, while revenue in the first 10 months also dropped 60.44 percent year-on-year to NT$20.91 billion. The company attributed the gain over past month to new product launches, while its efforts at cultivating the virtual reality market has begun to show early returns.
Orsted, TCC ink contract
Denmark’s Orsted A/S yesterday inked an engineering, procurement and construction contract with Taiwan Cogeneration Corp (TCC, 台灣汽電共生) to build two onshore substations, cable corridors, landfalls and transition joint bays for the first 900 megawatt Greater Changhua project. The contract is valued at about NT$7 billion and is one of the largest of its kind in the nation, Orsted said. Star Energy (星能), TCC’s wholly owned subsidiary, would be responsible for all onshore deliverables, including design. TCC would also subcontract with other local suppliers, which would create between 800 and 1,000 jobs, and fulfill the government’s local content requirement for offshore wind projects, the companies said.
TX01 to be commercialized
Tanvex BioPharma Inc (泰福生技) is to begin commercializing TX01, a biosimilar drug for treating chemotherapy-induced neutropenia, in the US market, the company told an investors’ conference in Taipei yesterday. TX-01 entered the final stages of the regulatory approval process in the US last month, the company added. Tanvex said that it would be marketing the drug in the US as part of its strategy to keep a firm control of the drug. Patients with neutropenia have abnormally low levels of neutrophils, a common type of white blood cell, which puts them at risk of severe infections.
PTS paper to be published
Gongwin Biopharm Holdings Co Ltd (共信生醫) on Monday announced that a research paper on PTS, the company’s mini-invasive targeted chemo-ablation oncology therapy, has been accepted to be published by Frontiers in Pharmacology, an international scientific journal. The piece would help raise PTS’ international profile, it said.
‘ACCORDING TO PLAN’: A company official said that it has set up production sites worldwide to provide services and that its Wisconsin project was going smoothly Hon Hai Precision Industry Co’s (鴻海精密) smart manufacturing center in Wisconsin would begin trial manufacturing in the middle of this year, the company said yesterday, adding that it plans to build a research institute to develop key technologies to support growth over the next five years. Hon Hai, known internationally as Foxconn Technology Group (富士康科技集團), said in an annual report submitted to the Taiwan Stock Exchange that its planned Foxconn Institute for Research in Science and Technology would conduct research into artificial intelligence, next-generation communications, quantum computing, cybersecurity and nano semiconductors in Taiwan. Hon Hai is to make products at the center
TV and online retailer Momo.com Inc (富邦媒體) yesterday said it has set up a new logistics subsidiary, Fu Sheng Logistics Co (富昇物流), to oversee the company’s extensive shipping operations. Leveraging Momo’s 23 satellite warehouses and distribution centers nationwide, Fu Sheng will be in charge of executing the retailer’s same-day shipment plan for deliveries in Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung, Momo said in a press release. Seeking to further shorten its supply chain, the company is to set up another seven satellite warehouses and distribution centers by the end of the year. “Fu Sheng has a fleet of 200 couriers
E Ink Holdings Inc (元太科技), the world’s sole supplier of e-paper displays for e-readers and shelf labels, posted its best quarterly net profit for the first quarter in nine years amid increased demand during a traditionally slow season. Net profit soared 80 percent to NT$787 million (US$26.23 million) in the quarter ended March 31, compared with NT$438 million a year earlier. That translated into earnings per share of NT$0.69, up from NT$0.39. E Ink posted lower royalty income of NT$371.23 million last quarter from NT$448.74 million a year earlier, a company financial statement showed. E Ink said that it expects royalty income to
The latest US government action against Huawei Technologies Co (華為) takes direct aim the company’s HiSilicon (海思) chip division — a business that in over the past few years has become central to China’s ambitions in semiconductor technology, but is now to lose access to tools that are central to its success. That could make it the most damaging measure by the US yet against a Chinese company. On Wednesday, US officials told reporters that the Huawei’s chip division functioned as a “tool of strategic influence” for the Chinese Communist Party. Huawei, for its part, denounced the US allegations and called the