EQUITIES
Virus worries impact TAIEX
The TAIEX yesterday moved lower to close below 17,000 points, as investors’ concerns over a surge in domestic COVID-19 cases continued. Selling focused on large-cap tech stocks, while cyclical old economy stocks also came under pressure later in the session as investors locked in gains posted in previous sessions, dealers said. The TAIEX ended down 109.99 points, or 0.64 percent, at 16,966.22, while turnover totaled NT$398.405 billion (US$14.348 billion), up from NT$350.72 billion the previous day. Foreign institutional investors sold a net NT$14.97 billion of shares on the market yesterday, Taiwan Stock Exchange data showed.
ELECTRONICS
Innolux profit soars 42.3%
Flat-panel maker Innolux Corp (群創) yesterday posted NT$31.38 billion in revenue for last month, the highest in about four-and-a-half years. Revenue increased 3.4 percent from April and 42.3 percent from a year earlier. Shipments of large panels for computers and TVs rose 4 percent sequentially, while shipments of small panels dropped 2 percent. During the first five months of the year, revenue surged 56.36 percent year-on-year to NT$145.56 billion.
AUTO PARTS
Hiroca’s sales rise 10.73%
Automotive components maker Hiroca Holdings Ltd (廣華控股) yesterday reported consolidated sales of NT$8441.84 million for last month, up 10.73 percent year-on-year. Hiroca, which produces interior trim parts, as well as plastic, fabric and leather decorations, said that an increase in shipments to major automakers in China boosted its sales last month. However, revenue fell 20.78 percent from April due to a shortage of chips, the firm said. Cumulative sales in the first five months of this year rose 51.61 percent to NT$2.77 billion from a year earlier.
CHIPMAKERS
Winbond buys equipment
Winbond Electronics Corp (華邦電) yesterday said that it has ordered NT$5.33 billion of manufacturing equipment from Applied Materials South East Asia Pte Ltd, after its board of directors approved a NT$378 million capital expenditure last month. Revenue last month soared 92.05 percent to NT$8.21 billion year-on-year from NT$4.27 billion last year, but edged lower 1 percent month-on-month from NT$8.3 billion in April. Cumulative revenue in the first five months totaled NT$29.63 billion from NT$15.9 billion last year.
MANUFACTURING
Value Valves demand rises
Value Valves Co (捷流閥業) yesterday reported that revenue last month rose 1.1 percent month-on-month to NT$208.1 million, the highest this year, thanks to rising demand in the electronics and petrochemical industries. However, the figure fell 0.34 percent year-on-year. In the first five months, cumulative revenue fell 8.97 percent to NT$923.91 million from last year, as major customers delayed orders over COVID-19 concerns, the firm said.
MANUFACTURING
Sheh Fung Screws revenue increases
Screw manufacturer Sheh Fung Screws Co (世豐螺絲) yesterday posted NT$244 million in revenue for last month, a spike of 71.86 percent from a year earlier on the back of selling prices hikes and strong demand from the US market. Demand for screws is gaining heat as the property market in the US market recovers and do-it-yourself home improvement projects grow increasingly popular, the Kaohsiung-based company said. Shipping clogs protracted delivery time and helped boost selling prices, it said, adding that a low base last year also lent support to the impressive showing.
ELECTRONICS
HTC VR headsets to launch
HTC Corp (宏達電) yesterday said that it would launch new virtual reality (VR) headsets in its Vive lineup tomorrow. The Vive Pro 2, a successor to the original Vive Pro, is to sell for NT$24,900. It features a 120-degree field of view, a refresh rate of 120 hertz, and “premium 5K fidelity,” with 2.5k resolution per eye, HTC said. The Vive Focus 3, the latest in the firm’s series of all-in-one business-oriented VR headsets, can be preordered from today, before its June 25 launch, for NT$32,900, it said.
Shares of contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) came under pressure yesterday after a report that Apple Inc is looking to shift some orders from the Taiwanese company to Intel Corp. TSMC shares fell NT$55, or 2.4 percent, to close at NT$2,235 on the local main board, Taiwan Stock Exchange data showed. Despite the losses, TSMC is expected to continue to benefit from sound fundamentals, as it maintains a lead over its peers in high-end process development, analysts said. “The selling was a knee-jerk reaction to an Intel-Apple report over the weekend,” Mega International Investment Services Corp (兆豐國際投顧) analyst Alex Huang
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to remain Apple Inc’s primary chip manufacturing partner despite reports that Apple could shift some orders to Intel Corp, industry experts said yesterday. The comments came after The Wall Street Journal reported on Friday that Apple and Intel had reached a preliminary agreement following more than a year of negotiations for Intel to manufacture some chips for Apple devices. Taiwan Institute of Economic Research (台灣經濟研究院) economist Arisa Liu (劉佩真) said TSMC’s advanced packaging technologies, including integrated fan-out and chip-on-wafer-on-substrate, remain critical to the performance of Apple’s A-series and M-series chips. She said Intel and Samsung
TRANSITION: With the closure, the company would reorganize its Taiwanese unit to a sales and service-focused model, Bridgestone said Bridgestone Corp yesterday announced it would cease manufacturing operations at its tire plant in Hsinchu County’s Hukou Township (湖口), affecting more than 500 workers. Bridgestone Taiwan Co (台灣普利司通) said in a statement that the decision was based on the Tokyo-based tire maker’s adjustments to its global operational strategy and long-term market development considerations. The Taiwanese unit would be reorganized as part of the closure, effective yesterday, and all related production activities would be concluded, the statement said. Under the plan, Bridgestone would continue to deepen its presence in the Taiwanese market, while transitioning to a sales and service-focused business model, it added. The Hsinchu
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has approved a capital budget of US$31.28 billion for production expansion to meet long-term development needs during the artificial intelligence (AI) boom. The company’s board meeting yesterday approved the capital appropriation plan for purposes such as the installation of advanced technology capacity and fab construction, the world’s largest contract chipmaker said in a statement. At an earnings conference last month, TSMC forecast that its capital expenditure for this year would be at the higher end of the US$52 billion to US$56 billion range it forecast in January in response to robust demand for 5G, AI and
RSS