Listed companies reported record profits from their Chinese and overseas investments in the first quarter, thanks to rising demand for work-from-home products, the Financial Supervisory Commission (FSC) said on Tuesday.
During the first three months of the year, listed companies posted a combined profit of NT$107.5 billion (US$3.87 billion) from their investments in China, up 361 percent from a year earlier and the highest for the period, the FSC said.
The commission attributed the increase primarily to contributions by electronics firms — which reported combined profits of NT$35.6 billion last quarter, up from NT$9.3 billion a year earlier — and petrochemical firms — which earned NT$11.9 billion, compared with a loss of NT$1.1 billion a year earlier.
However, 10 listed companies closed their units in China, the most in the past decade for the first quarter, the commission said.
As of the end of March, listed companies’ combined investments in China totaled NT$2.53 trillion, up NT$18.9 billion from a quarter earlier, as several computer and electronics firms expanded their operations there, it said.
Excluding China, listed companies reported a combined profit of NT$268.8 billion on their overseas investments, compared with NT$37.7 billion a year earlier, FSC data showed.
Container shipping companies contributed the most, as robust freight rates increased their profits to NT$67.8 billion in the quarter, up from NT$500 million a year earlier, the commission said.
Accumulated overseas investments totaled NT$6.87 trillion as of the end of March, an increase of NT$68.8 billion from a quarter earlier, FSC data showed.
China has claimed a breakthrough in developing homegrown chipmaking equipment, an important step in overcoming US sanctions designed to thwart Beijing’s semiconductor goals. State-linked organizations are advised to use a new laser-based immersion lithography machine with a resolution of 65 nanometers or better, the Chinese Ministry of Industry and Information Technology (MIIT) said in an announcement this month. Although the note does not specify the supplier, the spec marks a significant step up from the previous most advanced indigenous equipment — developed by Shanghai Micro Electronics Equipment Group Co (SMEE, 上海微電子) — which stood at about 90 nanometers. MIIT’s claimed advances last
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has appointed Rose Castanares, executive vice president of TSMC Arizona, as president of the subsidiary, which is responsible for carrying out massive investments by the Taiwanese tech giant in the US state, the company said in a statement yesterday. Castanares will succeed Brian Harrison as president of the Arizona subsidiary on Oct. 1 after the incumbent president steps down from the position with a transfer to the Arizona CEO office to serve as an advisor to TSMC Arizona’s chairman, the statement said. According to TSMC, Harrison is scheduled to retire on Dec. 31. Castanares joined TSMC in
EUROPE ON HOLD: Among a flurry of announcements, Intel said it would postpone new factories in Germany and Poland, but remains committed to its US expansion Intel Corp chief executive officer Pat Gelsinger has landed Amazon.com Inc’s Amazon Web Services (AWS) as a customer for the company’s manufacturing business, potentially bringing work to new plants under construction in the US and boosting his efforts to turn around the embattled chipmaker. Intel and AWS are to coinvest in a custom semiconductor for artificial intelligence computing — what is known as a fabric chip — in a “multiyear, multibillion-dollar framework,” Intel said in a statement on Monday. The work would rely on Intel’s 18A process, an advanced chipmaking technology. Intel shares rose more than 8 percent in late trading after the
FACTORY SHIFT: While Taiwan produces most of the world’s AI servers, firms are under pressure to move manufacturing amid geopolitical tensions Lenovo Group Ltd (聯想) started building artificial intelligence (AI) servers in India’s south, the latest boon for the rapidly growing country’s push to become a high-tech powerhouse. The company yesterday said it has started making the large, powerful computers in Pondicherry, southeastern India, moving beyond products such as laptops and smartphones. The Chinese company would also build out its facilities in the Bangalore region, including a research lab with a focus on AI. Lenovo’s plans mark another win for Indian Prime Minister Narendra Modi, who tries to attract more technology investment into the country. While India’s tense relationship with China has suffered setbacks