Genius revenue soars
Genius Electronic Optical Co (玉晶光), which supplies camera lenses for Apple Inc’s iPhones, yesterday reported stronger-than-expected revenue for last month. Consolidated revenue rose 4.96 percent month-on-month and 145 percent year-on-year to NT$1.93 billion (US$62.58 million), Genius said in a filing with the Taiwan Stock Exchange. Last month’s figure was the highest monthly revenue in the company’s history and pushed its overall revenue for the first nine months up 42.69 percent year-on-year to NT$8.26 billion, company data showed. With sales of new iPhone models exceeding market expectations, Genius might benefit from a potential boom for Apple suppliers this quarter, analysts said.
TSMC starts 7nm production
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has begun mass production of chips made with its advanced 7-nanometer-plus technology. The trial production of chips made on the more advanced 6-nanometer process is scheduled for the first quarter of next year, TSMC said in a statement on Monday. In the wake of the news, TSMC shares yesterday gained 3.06 percent to close at the day’s high of NT$286.5 in Taipei trading, pushing up the firm’s market capitalization to a new high of NT$7.43 trillion. TSMC shares served as a driver to boost the broader market as the TAIEX closed up 0.75 percent at 11,017.31 points.
Aten back on track
Aten International Co Ltd (宏正自動科技) yesterday posted revenue of NT$424.02 million for last month, a 7.83 percent increase year-on-year. Cumulative revenue from January to last month declined by 1.55 percent year-on-year to NT$3.69 billion after the company faced headwinds earlier this year due to the US-China trade dispute. Aten said sales in its IT infrastructure solutions segment increased by 12 percent year-on-year last month and sales in its audio-visual business increased by 10 percent, while those of USBs and related products declined by 1 percent.
Tong Yang sales decline
Tong Yang Industry Co (東陽實業), which manufactures bumpers and automotive sheet metal products, yesterday posted sales of NT$1.67 billion for last month, a 10.1 percent decrease year-on-year. Cumulative sales in the first nine months fell 9.61 percent year-on-year to NT$15.77 billion, as sales generated by the aftermarket business grew 5 percent, but sales at the original equipment manufacturing (OEM) business fell by 35.16 percent, Tong Yang said in a statement. Sales at the OEM business would continue to decline this quarter, but the pace has slowed, a company official said by telephone.
Johnson Health bullish
Fitness equipment maker Johnson Health Technology Co Ltd (喬山健康科技) yesterday posted revenue of NT$2.13 billion for last month, a 7.65 percent increase year-on-year, lifting cumulative revenue in the first nine months by 18.62 percent year-on-year to NT$17.09 billion, a record high. The company said it expects revenue to reach its peak this quarter thanks to seasonal demand. To cope with rising demand, the company is expanding its operations in Taiwan and Vietnam. A new Vietnamese plant is expected to start mass production at the end of this year, while construction of a smart warehouse in Taiwan is to be completed in the second quarter of next year, the company said.
Polytronics Technology Corp (聚鼎科技) yesterday announced that it is buying Henkel AG’s thermal clad dielectric material (TCLAD) business division for US$26 million as the Taiwanese firm aims to improve its technology, product portfolio and revenue performance. Polytronics, headquartered in the Hsinchu Science Park (新竹科學園區), is a supplier of protection components and heat dissipation materials. The firm entered the metallic heat-dissipation substrate market in 2007 and developed a unique solventless production process. Its board of directors approved signing an agreement with Henkel to acquire the German chemical firm’s TCLAD division in the US. The purchase includes all assets and business interests, including equipment,
ELECTRIC FARMLAND: TSMC’s proposal to clear 230 hectares of reforested land for what would become Taiwan’s largest photovoltaic solar farm has generated concerns New rules curbing solar farms built on agricultural land sparked fierce debate at a packed public hearing at the Legislative Yuan yesterday, with industry representatives saying that the new restrictions would endanger President Tsai Ing-wen’s (蔡英文) green energy goals, while agricultural officials emphasized the importance of protecting farmers and the environment. The Tsai administration has set a target to generate 20 percent of the nation’s power from renewable sources by 2025, by which time it also aims to install 20 gigawatts (GW) of solar power, including 6GW from rooftop solar systems and 14GW from ground-mounted solar farms. Although rooftop solar systems are
‘SENSITIVE MARKETS’: The previously unannounced project would involve the company handing over control of data to a third party to sidestep privacy concerns Google has abandoned plans to offer a major new cloud service in China and other politically sensitive countries due in part to concerns over geopolitical tensions and the COVID-19 pandemic, two employees familiar with the matter said, revealing the challenges for US tech giants to secure business in those markets. In May, the search giant shut down the initiative, known as “Isolated Region” and which sought to address nations’ desires to control data within their borders, the employees said. The action was considered a “massive strategy shift,” said one of the employees, who added that Isolated Region had involved hundreds of employees
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday posted monthly revenue that suggested second-quarter sales surpassed analysts’ estimates, underscoring how its technological lead is helping the chipmaker weather the COVID-19 pandemic and US sanctions on its second-biggest customer Huawei Technologies Co (華為). Apple Inc’s main iPhone chipmaker posted sales of NT$120.88 billion (US$4.08 billion) for last month, up 40.8 percent year-on-year and bringing its revenue for the second quarter to NT$310.7 billion, beating the NT$308.8 billion analysts expected on average. TSMC, a barometer for the industry thanks to its heft in the global supply chain, had previously lowered its revenue outlook for this