Home appliance maker Airmate International Co (艾美特) yesterday said it is counting on sales of ventilation systems to boost revenue growth next year.
“We have confidence in the revenue growth for next year, as our new ventilation products have received a positive response from clients,” Airmate chairman Cheng Li-ping (鄭立平) told investors.
Ventilation systems are an energy-efficient mechanical system for providing fresh air in buildings.
Cheng said that Airmate has already launched medium-size ventilation systems for classrooms and is working on smaller models for homes, as it seeks to expand its market share in Chna.
Founded in Tainan, the company moved its headquarters and production base to China in 1991.
The company supplies products for its own brand, Airmate, and other international vendors, such as Sanyo Electric Co and Toshiba Corp.
The company reported sales of NT$6.77 billion (US$213.8 million) in the first half, but gave a conservative forecast for the rest of the year.
“Sales in the second half might be flat compared with the same period last year,” because of a capacity shortage, Cheng said.
Sales in the second half of last year reached NT$4.08 billion.
Sales of ventilation systems are forecast to surge in the second half next year, he said.
“Dehumidifiers could also help the company’s sales to grow, especially in the first quarter of next year, which is the rainy season in China,” he said.
Airmate is focused on sustaining its gross margin and digesting excess inventories, Cheng said.
The company also plans to renovate its plants in Shenzhen, China, in line with the local government’s urban renewal projects, it said, without elaborating.
The company’s net profit reached NT$272 million in the first half, up 87 percent form a year earlier.
Earnings per share during the same period were NT$2.22, compared with NT$1.18 a year ago, company data showed.
The company attributed the growth to the colder weather in China earlier this year and better production efficiency, especially for its Jiojiang plant in Jiangxi Province.
Given lower operating expenses at the Jiojiang plant, the company saw its gross margin improve to 21.19 percent during the first half, data showed.
Airmate shares closed unchanged at NT$28.75 yesterday on the Taiwan Stock Exchange.
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