Auto components manufacturer Tong Yang Industry Co (東陽實業) yesterday said that pre-tax profit last month surged 55 percent annually to a record NT$347 million (US$11.42 million) on robust demand.
Aggregate pre-tax income in the first half of the year totaled NT$1.48 billion, or earnings per share of NT$2.36, remaining flat from the same period last year, the firm said in a statement.
From January through last month, cumulative revenue increased 1.37 percent to NT$11.97 billion from a year earlier, data showed.
Tainan-based Tong Yang — which mainly supplies automotive metal sheets and bumpers to global brands — attributed its strong performance to sustained demand in the global automotive market, as well as foreign-exchange gains of NT$43.86 million over the period.
Tong Yang said it is conducting more research into its waterborne coating technologies to replace some of its oil-based coating production lines by the end of this year.
The improvement in manufacturing would help the company secure more orders from European customers, as waterborne coated products meet the higher environmental standards required there, the firm said.
The company is to start delivering waterborne coated auto components to clients in Europe and Japan this quarter, it said.
Tong Yang’s customers include General Motors Co, Fiat Chrysler Automobiles NV and Changan Automobile (長安汽車).
A new facility on a 15,000 ping (4.95 hectare) plot of land is expected to begin operations this quarter, Tong Yang said.
Tong Yang shares rose 1.89 percent to NT$59.4 in Taipei trading yesterday, outperforming the TAIEX, which edged up 0.38 percent to 10,460.15 points.
Meanwhile, Hota Industrial Manufacturing Co (和大工業), on Monday reported record-high revenue of NT$3.35 billion in the first half, a 16.28 percent rise from a year earlier.
Last month alone, the company saw its sales jump 8.45 percent to NT$505 million from a year earlier, a company filing showed.
The company was yet to release its audited earnings for the second quarter.
Hota, which makes gears and shafts for vehicles, is building automated production lines at the Chiayi Dapumei Precision Machinery Park to meet increasing demand from international clients.
Four new automated “intelligent” production lines in Chiayi County have begun production since the beginning of this month, Hota said.
Another three automated production lines are expected to start operations in October, it said.
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