AUTOMAKERS
Yulon posts decline
Yulon Motor Co (裕隆汽車) yesterday posted a second consecutive quarterly loss for last quarter of NT$279.63 million (US$9.14 million) and a net nonoperating decline of NT$521.09 million. That led the firm to report net losses of NT$1.57 billion for the third quarter, with losses of NT$1.05 a share. Revenue rose to NT$21.58 billion, from NT$21.02 billion the previous quarter and NT$20.22 billion a year earlier, company data showed. In the first three quarters of this year, Yulon reported net losses of NT$2.51 billion, compared with a net profit of NT$1.62 billion a year earlier, or losses of NT$1.7 per share.
MANUFACTURING
YFY profits jump 48.7%
Papermaking conglomerate YFY Inc (永豐餘控股) yesterday reported net profit climbed 48.7 percent to NT$1.18 billion from a year earlier, which it attributed to nonoperating gains of NT$857.79 million. Earnings per share increased from NT$0.48 to NT$0.71, while gross margin grew from 15.59 percent to 16.24 percent. However, third-quarter revenue fell 4.47 percent to NT$19.095 billion on falling global pulp prices and the low cost of recycled paper, YFY said. In the first three quarters of this year, net profit totaled NT$1.84 billion, up 37.2 percent from NT$1.34 billion a year earlier, with earnings per share of NT$1.11.
MANUFACTURING
Union plans Tatung protest
The labor union of Chunghwa Picture Tubes Ltd (CPT, 華映) yesterday said it plans a sit-in at parent company Tatung Co’s (大同) headquarters in Taipei, to urge it to pay wages owed by its flat-panel manufacturing arm. About 1,900 former CPT employees have not received salaries since they were laid off in August, the union said. Tatung holds a 40 percent stake in CPT, which has filed for bankruptcy protection. The Ministry of Labor is paying the laid-off workers part of the debt through a repayment fund for arrears wage debts.
TELECOMS
Chunghwa boosts pay
Chunghwa Telecom Co (中華電信) on Wednesday said it approved a 3 percent averaged pay raise for employees in a bid to recruit and retain talent ahead of the launch of 5G services next year. Employees with special skills and technological capabilities might see their salaries increase more than 5 percent year-on-year, the company said in a statement. The pay hikes take effect on Jan. 1.
CHIPMAKERS
TSMC issues dividend
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) on Tuesday approved to issue a cash dividend of NT$2.5 per share on its earnings per share NT$3.9 for the third quarter. The dividends would be distributed on April 16, the firm said. The board also approved a proposal to assign a capital budget of NT$199.8 billion for new production lines, the installation of advanced technology production equipment, and R&D spending, TSMC said.
GOVERNMENT
Lottery app expands
The Taxation Administration yesterday said that digital receipt holders would be able to claim NT$500 e-receipts in the September-October uniform invoice lottery draw through its mobile app on Android and iOS platforms. The system is currently limited to winnings of NT$1,000 and NT$200, an official said. The agency is to draw the winning numbers for the September-October uniform invoice lottery on Nov. 25.
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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