Hoping to benefit from Beijing’s “Made in China 2025” initiative, CTCI Advanced Systems Inc (CTCI ASI, 新鼎系統) said it plans to expand its business in China by offering industrial automation solutions for improving manufacturing safety.
CTCI ASI, a subsidiary of the construction and power engineering company CTCI Corp (中鼎工程), provides system planning, design, integration and engineering solutions for various information technology systems.
CTCI ASI said that business opportunities abound as industrial automation demand rises in China.
“We plan to provide [safety] services for Chinese customers, as the Chinese government has expressed concerns about safety issues in manufacturing plants in its latest policy,” CTCI ASI chairman Yih Hwei-nan (易惠南) told an investors’ conference on Monday.
The company is to offer Industrial Internet of Things (IIoT) technologies — the application of Internet of Things technologies in manufacturing — including “smart” machines, sensors and data analysis.
IIoT can raise operating efficiency and spot problems at plants, such as water leaks, the company said.
CTCI ASI also plans to tap into the Southeast Asian and Middle Eastern markets, Yih said, without elaborating.
The firm posted a net profit of NT$37.99 million (US$1.2 million), or earnings per share of NT$1.62, in the first half of the year, down 2.6 percent from a year earlier.
The company attributed the decline to slower demand for its core services, including automation and mechatronics solutions.
Revenues from automation solutions accounted for 54 percent of its total revenue of NT$833.56 billion in the first eight months of this year, the company said.
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