The nation’s two biggest online retailers, Momo.com Inc (富邦媒體) and PChome Online Inc (網路家庭), yesterday posted record revenues for last month on the back of Double 11 Singles’ Day sales.
Momo.com posted revenue of NT$6.68 billion (US$219 million) for last month, up 40.4 percent year-on-year and marking its ninth consecutive month of double-digit percentage year-on-year growth, the company said.
Momo.com last month posted a 53 percent year-on-year increase in sales of sports and leisure products, a 46 percent increase in consumer electronics products and 45 percent in household goods and decorations, it said.
Sales of cosmetics and health products also surged 43 percent, while sales of clothing and accessories rose 42 percent, it said, adding that purchases made through its mobile shopping app grew 56.6 percent year-on-year.
Cumulative revenue for the first 11 months of the year was NT$46.67 billion, up 23.5 percent year-on-year and surpassing last year’s annual revenue of NT$42.02 billion, data showed.
Net profit in the first three quarters of the year dropped 6.38 percent year-on-year to NT$974.72 million, or earnings per share of NT$6.96, down from NT$7.43 for the same period last year.
Meanwhile, PChome Online posted revenue of NT$4.69 billion for last month, a 9.78 percent year-on-year increase.
In the first 11 months of the year revenue was NT$35.21 billion, surpassing last year’s annual revenue of NT$34.59 billion, the company said.
Despite slower sales growth this year compared with Momo.com, PChome said it had succeeded in moving back into the black as the firm posted a net profit of NT$55.92 million for last quarter, or earnings per share of NT$0.48.
PChome’s net profit was NT$128.55 million in the first three quarters of the year, compared with a loss of NT$984.22 million in the same period last year.
Both retailers are planning end-of-year sales, with Momo.com slashing prices by up to 70 percent on more than 1 million products, while PChome is hosting a concert to promote its Web site.
WASHINGTON’S INCENTIVES: The CHIPS Act set aside US$39 billion in direct grants to persuade the world’s top semiconductor companies to make chips on US soil The US plans to award more than US$6 billion to Samsung Electronics Co, helping the chipmaker expand beyond a project in Texas it has already announced, people familiar with the matter said. The money from the 2022 CHIPS and Science Act would be one of several major awards that the US Department of Commerce is expected to announce in the coming weeks, including a grant of more than US$5 billion to Samsung’s rival, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), people familiar with the plans said. The people spoke on condition of anonymity in advance of the official announcements. The federal funding for
HIGH DEMAND: The firm has strong capabilities of providing key components including liquid cooling technology needed for AI servers, chairman Young Liu said Hon Hai Precision Industry Co (鴻海精密) yesterday revised its revenue outlook for this year to “significant” growth from a “neutral” view forecast five months ago, due to strong demand for artificial intelligence (AI) servers from cloud service providers. Hon Hai, a major assembler of iPhones that is also known as Foxconn, expects AI server revenues to soar more than 40 percent annually this year, chairman Young Liu (劉揚偉) told investors. The robust growth would uplift revenue contribution from AI servers to 40 percent of the company’s overall server revenue this year, from 30 percent last year, Liu said. In the three-year period
LONG HAUL: Largan Energy Materials’ TNO-based lithium-ion batteries are expected to charge in five minutes and last about 20 years, far surpassing conventional technology Largan Precision Co (大立光) has formed a joint venture with the Industrial Technology Research Institute (ITRI, 工研院) to produce fast-charging, long-life lithium-ion batteries for electric vehicles, mobile electronics and electric storage units, the camera lens supplier for Apple Inc’s iPhones said yesterday. Largan Energy Materials Co (萬溢能源材料), established in January, is developing high-energy, fast-charging, long-life lithium-ion batteries using titanium niobium oxide (TNO) anodes, it said. TNO-based batteries can be fully charged in five minutes and have a lifespan of 20 years, a major advantage over the two to four hours of charging time needed for conventional graphite-anode-based batteries, Largan said in a
Taiwan is one of the first countries to benefit from the artificial intelligence (AI) boom, but because that is largely down to a single company it also represents a risk, former Google Taiwan managing director Chien Lee-feng (簡立峰) said at an AI forum in Taipei yesterday. Speaking at the forum on how generative AI can generate possibilities for all walks of life, Chien said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) — currently among the world’s 10 most-valuable companies due to continued optimism about AI — ensures Taiwan is one of the economies to benefit most from AI. “This is because AI is