BizLink Holding Inc (貿聯控股) on Friday reported its consolidated sales increased 10.11 percent last month to US$65.08 million, from US$59.11 million a year earlier.
“Some customers replenished their inventories, resulting in a slight increase in sales with minor changes across product segments,” Silicon Valley-headquartered BizLink, the sole supplier of wiring harnesses for battery management systems in Tesla Inc’s electric vehicles (EVs), said in a statement.
The company’s product portfolio includes components for information technology, consumer electronics and electrical appliances, as well as industrial, medical, solar and telecom equipment.
Wire harness shipments for information technology and consumer electronics (IT/CE) rose last month due to inventory buildup at its customers, while those for electrical appliances, vehicles and industrial applications remained stable, BizLink said.
Second-quarter sales reached US$193.64 million, the highest quarterly level in the company’s history, while combined sales in the first six months of the year increased 9.91 percent year-on-year to NT$371.09 million, the company’s data showed.
BizLink’s wire harness orders for the IT/CE segment would be lower this quarter than last due to weaker-than-expected end-market demand amid the US-China trade dispute.
However, it has already relocated IT production lines in China to Taiwan and Malaysia, Capital Investment Management Corp (群益投顧) said in a note last week.
As for automotive harnesses, which BizLink mostly provides to Tesla’s Model 3, Model S and Model X, it will greatly depend on the US electric car manufacturer’s output growth in the second half of the year and if the cheaper Model 3 will be cannibalizing the company’s more lucrative models, Capital Investment said.
Tesla on Wednesday reported Model 3 output of 72,530 units in the second quarter, which was in line with Capital Investment’s forecast, but the output of the higher-margin Model S and Model X totaled 14,517 vehicles, 27 percent lower than the consultancy’s estimate and 21 percent less than the 22,319 units Tesla produced a year earlier.
“Model S/X demand may remain capped going forward due to other automakers’ penetrating into the luxury EV market and consumers’ switching to lower-priced Model 3,” Capital Investment said.
It also said that it has lowered its Model S/X output forecast for this year and does not expect Tesla’s Shanghai plant to start production of Model 3 vehicles smoothly later this year.
BizLink, which trades its shares on the Taiwan Stock Exchange, closed 1.68 percent lower at NT$234.5 on Friday. The stock has risen 4.69 percent so far this year.
PharmaEssentia Corp (藥華醫藥) shares have jumped 80.56 percent since the company obtained a US polycythemia vera (PV) drug license for its new interferon drug Besremi (ropeginterferon alfa-2b-njft) on Nov. 12. Shares on Friday closed at NT$195 in Taipei trading, up from the stock’s closing price of NT$108 on Nov. 12. PV is a rare, chronic and life-threatening blood cancer linked to a stem cell mutation in the bone marrow that results in an overproduction of blood cells and places sufferers at risk of having a blood clot, stroke or heart attack. PharmaEssentia is preparing to make Besremi available in the US in the
The US$410 DeliSofter pot looks much like the rice cookers ubiquitous in Japanese households and it does prepare rice in 24 minutes. However, this invention of two Panasonic Corp engineers is designed to do more and help people with swallowing difficulties. The two women led the creation of a spin-off company, Gifmo Co, to sell the specialized steam cooker, which they say can turn fried chicken soft enough to be sliced with a potato chip. The machine works by first cutting into food with a series of blades and then subjecting it to extremely high pressure at a temperature of 120°C,
Google’s Irish subsidiary has agreed to pay 218 million euros (US$244.94 million) in back taxes to the Irish government, company filings showed on Thursday. The US tech giant, which had been accused of avoiding tax across Europe through loopholes known as the “Double Irish, Dutch Sandwich,” said it had “agreed to the resolution of certain tax matters relating to prior years.” Google Ireland Ltd said it would pay corporation tax of 622 million euros for last year, including the 218 million euros of backdated tax settlement and interest charges. The previous year, Google Ireland paid taxes of 263 million euros. The company, which is
Ginko International Co (金可國際), the nation’s biggest maker of contact lenses, yesterday said that its board of directors approved a takeover bid of NT$27.18 billion (US$976.43 million) by Glamor Vision Ltd and its subsidiary Glamor International Ltd. The Glamor offer was to buy all 97.07 million Ginko shares for NT$280 each, Ginko said in statement submitted to the Taiwan Stock Exchange. That represents a premium of 38.61 percent compared with Ginko’s closing price of NT$202 on Thursday. After the transaction, Ginko would become a private company, with all shares delisted from Taipei Exchange, the statement said. The firm’s global headquarters in Taichung and its
RSS