Miaoli County-based tile producer Champion Building Materials Co (冠軍建材) yesterday posted revenue of NT$900 million (US$31.97 million) for last quarter, up 8.55 percent from three months earlier, as demand improved alongside the property market’s recovery from a local COVID-19 outbreak.
The quarterly sales were the strongest in four quarters, aided by revenue growth of 10 percent to NT$291 million last month, it said in a statement.
Inventory demand picked up significantly last month from major customers in Taiwan, which generated 93.32 percent of its topline, while China accounted for the remaining 6.68 percent, Champion said.
The company operates 10 showrooms nationwide and collaborates with 203 building material suppliers, making it the largest sales network.
Housing transactions in Taiwan accelerated after COVID-19 infections dwindled, encouraging developers to launch new products, it said, adding that decoration demand also lent support to its business.
The company is engaged in the manufacture and trading of ceramic tiles: polished tiles, quartz tiles, external wall tiles, slate tiles, floor tiles and interior wall tiles.
Champion said it also benefited from global port congestions, which disrupted shipments of imported tiles.
This boosted its sales of slate tiles and external wall tiles, which accounted for 35 percent and 21 percent of third-quarter revenue, compared with 29 percent and 17 percent respectively a year earlier, it added.
The company is upbeat about business this quarter, the high season for the housing market.
Champion shares slid 1.33 percent to close at NT$11.1 in Taipei trading yesterday, deeper than the TAIEX’s 1.07 percent retreat, Taiwan Stock Exchange data showed.
Taiwan’s foreign exchange reserves fell below the US$600 billion mark at the end of last month, with the central bank reporting a total of US$596.89 billion — a decline of US$8.6 billion from February — ending a three-month streak of increases. The central bank attributed the drop to a combination of factors such as outflows by foreign institutional investors, currency fluctuations and its own market interventions. “The large-scale outflows disrupted the balance of supply and demand in the foreign exchange market, prompting the central bank to intervene repeatedly by selling US dollars to stabilize the local currency,” Department of Foreign
Intel Corp is joining Elon Musk’s long-shot effort to develop semiconductors for Tesla Inc, Space Exploration Technologies Corp and xAI, marking a surprising twist in the chipmaker’s comeback bid. Intel would help the Terafab project “refactor” the technology in a chip factory, the company said on Tuesday in a post on X, Musk’s social media platform. That is a stage in the development process that typically helps make chips more powerful or reliable. The chipmaker’s shares jumped 4.2 percent to US$52.91 in New York trading on Tuesday. The Terafab project is a grand plan by Musk to eventually manufacture his own chips for
Some robotaxi passengers were left stranded in the middle of fast-moving traffic in a major Chinese city after their driverless vehicles stopped running, according to police and media reports on Wednesday. A preliminary investigation indicates more than 100 robotaxis came to a halt because of a “system malfunction,” police in the city of Wuhan said in a statement, without elaborating. No injuries were reported. One passenger told Chinese media that their robotaxi stopped after turning a corner. An instruction on a screen read: “Driving system malfunction. Staff are expected to arrive in 5 minutes.” After no one showed up, the passenger pushed
Taiwan Power Co (Taipower, 台電) yesterday said it plans to resume operations at two coal-fired power generators for three months to boost security of electricity supply as liquefied natural gas (LNG) supply risks are running high due to the Middle East conflict. The two coal-fired power generators are at Mailiao Power Plant in Yunlin County’s Mailiao Township (麥寮). The plant, operated by Formosa Plastics Group (台塑集團), supplied electricity to Taipower’s power grid until the end of last year. Taipower’s decision came about one month after Minister of Economic Affairs Kung Ming-hsin (龔明鑫) on March 10 said that the nation had no imminent
RSS