Wed, Nov 13, 2019 - Page 11 News List

Taiwan Business Quick Take

Staff writer, with CNA

MANUFACTURERS

Hiwin profit plunges 78%

Machinery maker Hiwin Technologies Co (上銀科技) yesterday reported that net profit plunged 77.67 percent annually to NT$389.03 million (US$12.79 million) in the third quarter, with earnings per share falling from NT$5.79 to NT$1.26 over the period. Last quarter’s net profit reached the lowest in 10 quarters during a sector downcycle. Third-quarter revenue fell to the lowest since the second quarter of 2017, at NT$5.06 billion, due to customers destocking inventories. Gross margin declined 7.1 percentage points to 33.64 percent, while operating margin decreased 13.07 percentage points to 12.63 percent, company data showed. In the first three quarters of this year, net profit totaled NT$1.83 billion, down 59.62 percent from a year earlier, or earnings per share of NT$5.90.

ENERGY

SAS posts NT$1.61bn profit

Solar firm Sino-American Silicon Products Inc (SAS, 中美晶) yesterday reported a net profit of NT$1.61 billion for last quarter, from a net loss of NT$2.28 billion in the previous quarter, after the company resettled multi-year supply contracts and gained a contribution from its semiconductor subsidiary, GlobalWafers Co (環球晶圓). That allowed SAS to report earnings per share of NT$2.76 last quarter, compared with net losses per share of NT$3.92 the prior quarter, the company said. In the first three quarters, the company reported that net profit reached NT$1.16 billion, down about 54 percent from a year earlier, or earnings per share of NT$2.00.

RETAIL

FamilyMart profits rise 9%

Taiwan FamilyMart Co (全家便利商店), operator of the nation’s No. 2 convenience store chain, yesterday reported that net profit last quarter increased 8.71 percent annually to NT$588.55 million, thanks to rising store sales and customer traffic. Earnings per share rose to NT$2.64 from NT$2.43 a year earlier. Revenue for last quarter increased 7.56 percent to NT$20.24 billion, with gross margin of 36.74 percent. The company’s net profit in the first three quarters reached NT$1.35 billion from NT$1.26 billion a year earlier, with earnings per share of NT$6.04 from NT$5.64 a year earlier.

AUTOMAKERS

Sumitomo to buy RAC stake

RAC Electric Vehicles Inc (華德動能), which makes electric buses and trucks, yesterday reached an agreement with Sumitomo Corp to sell a 7 percent stake to the Japanese trading firm for ¥450 million (US$4.12 million) via a private placement. Through the partnership, the two companies plan to develop electric bus and smart city-related businesses. RAC is the only Taiwanese company that has obtained certification from the government for electric buses.

CHIPMAKERS

Miaoli approves plant EIA

Miaoli County authorities have approved the environmental impact assessment (EIA) for an IC packaging and testing plant planned by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電). The Miaoli Environmental Protection Bureau on Monday said that it had in principle approved the EIA submitted by TSMC, which is planning to build the plant in a section of the Hsinchu Science Park (新竹科學園區) in Jhunan Township (竹南), except for what it called “minor” issues related to water consumption, atmospheric pollutant emissions and transportation issues. The bureau is waiting for TSMC to reply to those issues.

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