Ruten.com (露天拍賣), PChome Online Inc’s (網路家庭) consumer-to-consumer (C2C) online auction operator, has not given up its plan for an overseas listing, a company executive said yesterday, adding that the company would adopt artificial intelligence (AI) solutions to boost its competitiveness.
“We are going to present a more sophisticated IPO [initial public offering] proposal compared with the previous one in 2016... PChome chairman Jan [Hung-tze, 詹宏志] will make the announcement when the timing is right,” Ruten.com general manager Vicky Tseng (曾薰儀) told a news conference in Taipei.
The company at the beginning of 2016 disclosed a plan to list on the Hong Kong stock market to expand its presence in Asia, after announcing that its gross merchandise volume (GMV) exceeded NT$14 billion (US$479.34 million at the current exchange rate) for the first time in 2015.
Photo: CNA
GMV is a gauge indicating the total sales value for merchandise sold through an online marketplace over a certain period.
However, less than a year after its announcement, PChome said it was withdrawing Ruten.com’s IPO application from the Hong Kong Exchanges and Clearing in view of fast-changing industry dynamics.
PChome did not give further details on the withdrawal, but it is widely believed that it was prompted by rival Shopee Taiwan Co Ltd’s (樂購蝦皮) aggressive approach to gain local market share, forcing PChome to change its operating strategy.
While last year was a relatively “quiet” year for Ruten.com, as its GMV grew slower-than-normal at 15 percent to NT$27.52 billion, the company spent resources to collect trading data and develop AI solutions, Tseng said.
Starting this year, Ruten.com will provide its big data analysis and AI forecast solutions to individual merchants to help them carry out precision marketing, Tseng said, adding that the company would introduce AI chatbot to increase customer service efficiency.
The company plans to expand its reach from Taiwan to Southeast and Northeast Asian markets this year by introducing international trade services for clients starting next quarter, she added.
“The scale of Ruten.com’s marketplace is considerably a large platform in East Asia... We will make use of it to expand our services in the region,” Tseng said.
UNCERTAINTY: Innolux activated a stringent supply chain management mechanism, as it did during the COVID-19 pandemic, to ensure optimal inventory levels for customers Flat-panel display makers AUO Corp (友達) and Innolux Corp (群創) yesterday said that about 12 to 20 percent of their display business is at risk of potential US tariffs and that they would relocate production or shipment destinations to mitigate the levies’ effects. US tariffs would have a direct impact of US$200 million on AUO’s revenue, company chairman Paul Peng (彭雙浪) told reporters on the sidelines of the Touch Taiwan trade show in Taipei yesterday. That would make up about 12 percent of the company’s overall revenue. To cope with the tariff uncertainty, AUO plans to allocate its production to manufacturing facilities in
TAKING STOCK: A Taiwanese cookware firm in Vietnam urged customers to assess inventory or place orders early so shipments can reach the US while tariffs are paused Taiwanese businesses in Vietnam are exploring alternatives after the White House imposed a 46 percent import duty on Vietnamese goods, following US President Donald Trump’s announcement of “reciprocal” tariffs on the US’ trading partners. Lo Shih-liang (羅世良), chairman of Brico Industry Co (裕茂工業), a Taiwanese company that manufactures cast iron cookware and stove components in Vietnam, said that more than 40 percent of his business was tied to the US market, describing the constant US policy shifts as an emotional roller coaster. “I work during the day and stay up all night watching the news. I’ve been following US news until 3am
COLLABORATION: Given Taiwan’s key position in global supply chains, the US firm is discussing strategies with local partners and clients to deal with global uncertainties Advanced Micro Devices Inc (AMD) yesterday said it is meeting with local ecosystem partners, including Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), to discuss strategies, including long-term manufacturing, to navigate uncertainties such as US tariffs, as Taiwan occupies an important position in global supply chains. AMD chief executive officer Lisa Su (蘇姿丰) told reporters that Taiwan is an important part of the chip designer’s ecosystem and she is discussing with partners and customers in Taiwan to forge strong collaborations on different areas during this critical period. AMD has just become the first artificial-intelligence (AI) server chip customer of TSMC to utilize its advanced
Taiwan will prioritize the development of silicon photonics by taking advantage of its strength in the semiconductor industry to build another shield to protect the local economy, National Development Council (NDC) Minister Paul Liu (劉鏡清) said yesterday. Speaking at a meeting of the legislature’s Economics Committee, Liu said Taiwan already has the artificial intelligence (AI) industry as a shield, after the semiconductor industry, to safeguard the country, and is looking at new unique fields to build more economic shields. While Taiwan will further strengthen its existing shields, over the longer term, the country is determined to focus on such potential segments as