LENSES
GSEO net profit up 174%
Genius Electronic Optical Co (GSEO, 玉晶光), a camera lens supplier for Apple Inc’s iPhones, yesterday posted a net profit of NT$38.88 million (US$1.34 million) for last month, up 173 percent from a year earlier, with earnings per share (EPS) of NT$0.39, an increase of 174 percent. The company, which became the main supplier of front lenses for iPhone models last year, released the monthly figures at the request of Taiwan Stock Exchange due to an unusual spike in its stock price in recent sessions. The company on Wednesday reported operating profit of NT$1.54 billion and net profit of NT$1.05 billion for last year, the highest levels since its listing on the main bourse in 2005, with EPS of NT$10.5, a six-year high.
TECHNOLOGY
Utechzone plans China plant
Utechzone Co (由田新技), which provides automated optical inspection products for the printed circuit board, LCD, touchpanel, glass and LED wafer industries in Taiwan, yesterday said it plans to increase investment this year, including setting up factories in China to take advantage of Beijing’s “Made in China 2025” plan. Utechzone said it is still looking for an appropriate site to build its China operations, expected in the second half of this year. The company reported NT$2.81 billion in sales last year, up 39.03 percent from a year earlier, but net profit fell 31.83 percent to NT$169 million, which the company attributed to foreign exchange losses of NT$125 million.
CHIPMAKERs
UMC buys back shares
Contract chipmaker United Microelectronics Corp (UMC, 聯電) yesterday said that it bought back 39.607 million common shares from March 8 to yesterday on the open market at NT$15.19 per share on average, accounting for 19.8 percent of a buyback scheme for 200 million shares announced earlier this month. The share buyback program is to run through May 7 and UMC said it plans to repurchase shares at between NT$9.85 and NT$21.3 per share. The company’s shares closed up 0.65 percent at NT$15.4 in Taipei trading.
TECHNOLOGY
Advantech eyes Nippon
Advantech Co (研華), the world’s largest industrial computer supplier, yesterday said its board has approved a plan to purchase 1 million shares, or a 19 percent stake, in Nippon RAD Inc worth NT$303.3 million. Advantech said it would buy the shares via a private placement and expects the deal to be completed on April 27. The company said it has signed a business and capital alliance agreement with the Tokyo-based firm regarding future collaboration in the industrial Internet of Things and intelligent equipment areas.
MEMORY CHIPS
AI to boost AP Memory
Memorychip designer AP Memory Technology Corp (愛普科技) on Thursday said it expects business to improve this year, driven by demand for specialty memory products for artificial intelligence (AI) and Internet of Things devices. The company posted a net profit of NT$251 million last year, the second-lowest in the company’s history, with earnings per share of NT$3.58. Chairman Michael Tsai (蔡國智) told an investors’ conference in Taipei that the lackluster performance was due to a serious shortage of NAND flash memory chips and increased charges related to its takeover of local rival Zentel Electronics Corp (力積電子), as well as inventory loss provisions and foreign exchange losses.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
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