EQUITIES
Tech stocks curb TAIEX gains
The TAIEX closed higher yesterday, but gains were limited as some tech stocks, in particular in the semiconductor industry, fell toward the end of the day amid lingering worries on the US markets over an increase in interest rates. Offsetting the impact from the tech sector, the transportation sector continued its momentum from the previous session, while financial stocks kept steaming ahead on hopes that higher interest rates would boost financial firms’ returns from overseas investments. The TAIEX rose by 66.26 points, or 0.37 percent, to close at 17,966.56, after coming off a high of 18,063.55. Turnover totaled NT$313.218 billion (US$11.25 billion), with foreign institutional investors selling a net NT$2.49 billion of shares on the main board after selling a net NT$6.45 billion on Monday, Taiwan Stock Exchange data showed.
PHARMACEUTICALS
Medigen files application
Medigen Vaccine Biologics Corp (高端疫苗) has filed a new drug application for its quadrivalent influenza vaccine with the Food and Drug Administration, hoping to join three other suppliers in providing publicly funded influenza vaccines, the company said in a filing with the Taiwan Stock Exchange yesterday. Medigen said it is working with South Korea’s biggest flu vaccine maker, GC Pharma Corp. GC Pharma is responsible for making the vaccine bulk, while Medigen focuses on fill-and-finish, sub-packaging and quality control, as well as applying for drug certificates under its brand, the local firm said. The new vaccine aims to prevent influenza-related diseases caused by two types of influenza A and two types of influenza B viruses, Medigen added. In Taiwan, the government purchases about 6.3 million doses of quadrivalent influenza vaccine each year with a budget of about NT$1.5 billion.
ELECTRONICS
E-Lead net income spikes
E-Lead Electronic Co (怡利電子), an auto electronics manufacturer focusing on infotainment head units, yesterday reported that its net income surged 780 percent annually to NT$88 million in the fourth quarter of last year, with earnings per share (EPS) rising to NT$0.74, the highest since the second quarter of 2015. Revenue increased 55.45 percent annually to NT$855 million in the quarter, the company said. E-Lead said its strong fourth-quarter performance helped lift its net income for the entire year to NT$97 million, compared with a net loss of NT$81.92 million in 2020, with EPS reaching NT$0.81 — the highest in six years. Revenue for the year rose 51.57 percent annually to NT$1.63 billion, it said. The company also supplies navigation systems, vehicle sensors and other automotive accessories at its bases of operation in Taiwan, China and Thailand.
APPAREL
Makalot revenue up 20%
Makalot Industrial Co (聚陽), a manufacturer of ready-to-wear apparel and functional clothing, yesterday reported consolidated revenue of NT$2.86 billion for last month, up 20 percent from a year earlier and a new company record for January thanks to rising orders from brand clients. However, last month’s figure was 10.07 percent lower than in December due to the Lunar New Year holiday, it said. Looking ahead, end-market demand in Europe and the US remains healthy and orders from brand and channel clients are expected to increase further, Makalot said. The company’s order visibility has extended to June this year, although port congestion worldwide is still a potential risk, it said.
CHIP HANG-UP: Surging memorychip prices would deal a blow to smartphone sales this year, potentially hindering one of MediaTek’s biggest sources of revenue MediaTek Inc (聯發科), the world’s biggest smartphone chip designer, yesterday said its new artificial intelligence (AI) chips used in data centers are to account for 20 percent of its total revenue next year, as cloud service providers race to deploy AI infrastructure to meet voracious demand. MediaTek is believed to be developing tensor processing units for Google, which are used in AI applications. While it did not confirm such reports, MediaTek said its new application-specific IC (ASIC) business would be a new growth engine for the company. It again hiked its forecast for the addressable ASIC market to US$70 billion by 2028, compared
MediaTek Inc (聯發科), the world’s biggest smartphone chip supplier, yesterday said it plans to double investment in data center-related technologies, including advanced packaging and high-speed interconnect technologies, to broaden the new business’ customer and service portfolios. The chip designer is redirecting its resources to data centers, mainly designing application-specific integrated circuits (ASIC) with artificial intelligence (AI) capabilities for cloud service providers. The data center business is forecast to lead growth in the next three years and become the company’s second-biggest revenue source, replacing chips used in smart devices, MediaTek president Joe Chen (陳冠州) told a media event in Taipei. “Three or four years
Until US President Donald Trump’s return a year ago, when the EU talked about cutting economic dependency on foreign powers — it was understood to mean China, but now Brussels has US tech in its sights. As Trump ramps up his threats — from strong-arming Europe on trade to pushing to seize Greenland — concern has grown that the unpredictable leader could, should he so wish, plunge the bloc into digital darkness. Since Trump’s Greenland climbdown, top officials have stepped up warnings that the EU is dangerously exposed to geopolitical shocks and must work toward strategic independence — in defense, energy and
Motorists ride past a mural along a street in Varanasi, India, yesterday.
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