Magnate Technology Co Ltd (晟田科技工業), which manufactures aerospace components and assembly products in Taiwan, is scheduled to list on the GRETAI Securities Market next month to raise funding for plant construction.
Magnate Technology might set its preliminary price at about NT$40 per share, according to market estimates, a 30 percent discount from its closing price of NT$55.99 on the Emerging Stock Market yesterday. Shares rose 1.16 percent yesterday.
Following an estimated 29,226 aircraft worth US$4.84 trillion to be delivered to countries around the world from last year to 2032, the expected rising demand has made the company move ahead with the third-phase construction of its plant.
“We will use most of the funding received through the listing for capital expenditure,” chairman Young Hsieh (謝永昌) told a media briefing.
The steady increase in demand could help the company post double-digit growth in its consolidated revenue this year, from the sales of NT$895.68 million (US$29.79 million) it posted last year, Hsieh added.
Magnate Technology saw net income last year total NT$98.65 million, or NT$2.23 per share. For the first three months of the year, the company posted NT$26.01 million, or NT$0.59 per share, in net profit, according to its financial statement.
PROTECTIONISM: China hopes to help domestic chipmakers gain more market share while preparing local tech companies for the possibility of more US sanctions Beijing is stepping up pressure on Chinese companies to buy locally produced artificial intelligence (AI) chips instead of Nvidia Corp products, part of the nation’s effort to expand its semiconductor industry and counter US sanctions. Chinese regulators have been discouraging companies from purchasing Nvidia’s H20 chips, which are used to develop and run AI models, sources familiar with the matter said. The policy has taken the form of guidance rather than an outright ban, as Beijing wants to avoid handicapping its own AI start-ups and escalating tensions with the US, said the sources, who asked not to be identified because the
Taipei is today suspending its US$2.5 trillion stock market as Super Typhoon Krathon approaches Taiwan with strong winds and heavy rain. The nation is not conducting securities, currency or fixed-income trading, statements from its stock and currency exchanges said. Yesterday, schools and offices were closed in several cities and counties in southern and eastern Taiwan, including in the key industrial port city of Kaohsiung. Taiwan, which started canceling flights, ship sailings and some train services earlier this week, has wind and rain advisories in place for much of the island. It regularly experiences typhoons, and in July shut offices and schools as
FALLING BEHIND: Samsung shares have declined more than 20 percent this year, as the world’s largest chipmaker struggles in key markets and plays catch-up to rival SK Hynix Samsung Electronics Co is laying off workers in Southeast Asia, Australia and New Zealand as part of a plan to reduce its global headcount by thousands of jobs, sources familiar with the situation said. The layoffs could affect about 10 percent of its workforces in those markets, although the numbers for each subsidiary might vary, said one of the sources, who asked not to be named because the matter is private. Job cuts are planned for other overseas subsidiaries and could reach 10 percent in certain markets, the source said. The South Korean company has about 147,000 in staff overseas, more than half
Her white-gloved, waistcoated uniform impeccable, 22-year-old Hazuki Okuno boards a bullet train replica to rehearse the strict protocols behind the smooth operation of a Japanese institution turning 60 Tuesday. High-speed Shinkansen trains began running between Tokyo and Osaka on Oct. 1, 1964, heralding a new era for rail travel as Japan grew into an economic superpower after World War II. The service remains integral to the nation’s economy and way of life — so keeping it dazzlingly clean, punctual and accident-free is a serious job. At a 10-story, state-of-the-art staff training center, Okuno shouted from the window and signaled to imaginary colleagues, keeping
RSS