PlayNitride Inc (錼創科技), which supplies chip carriers for micro LED and various micro LED products, is to debut on the Taiwan Stock Exchange’s Taiwan Innovation Board today — making it the first company to trade on the new board, which was launched in July last year.
The Cayman Islands-registed company applied for the local listing in February and obtained regulatory approval in April.
The exchange has encouraged start-ups to list on the new board regardless of their profit performance as it focuses more on their market potential.
Photo: Fang Wei-chieh, Taipei Times
PlayNitride posted a net loss of NT$1.21 billion (US$40.36 million) last year, or losses per share of NT$14.14. It posted losses per share of NT$1.17 in the first quarter, company data showed.
In the first seven months of this year, its cumulative revenue reached NT$220 million, up 255 percent from a year earlier.
“Our revenue for the first seven months has surpassed that for the whole of last year, and we expect the momentum to continue in the following years,” the Chinese-
language Liberty Times (the Taipei Times’ sister publication) quoted PlayNitride chairman Charles Li (李允立) as saying at a media briefing in Taipei yesterday.
Li is positive about the outlook for micro LEDs, which can be used in more innovative fields such as automotive displays and augmented reality devices, he said.
PlayNitride mainly produces six-inch micro LEDs and manufactures 1,500 to 2,000 units monthly, he added.
Li said the company might still be in the red this year, but is expected to turn a profit next year at the earliest.
The US dollar on Friday rose against the euro, but pared gains late in a session that was muddied by quarter-end trading, while riskier commodity-led currencies fell sharply after European inflation hit a record high and US consumer spending increased faster than expected. Although the dollar index was showing its biggest quarterly gain since the first quarter 2015, but was registered its first weekly decline in three weeks. Sterling rose against the dollar after falling earlier in the day. The pound last showed four straight sessions of gains followed by wild declines on concerns about Britain’s plan to slash taxes and pay
SAMSUNG DISTANT SECOND: Top local chip fims served nearly two-thirds of the global market in Q2, while Samsung kept South Korea competitive with its 16.5 percent share Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) remained the world’s largest contract chipmaker in the second quarter of the year with a 53.4 percent share of the global pure-play foundry market, the Taipei-based market information advisory firm TrendForce Corp (集邦科技) said in a research report on Tuesday. Despite TSMC’s market share dipping slightly from 53.6 percent in the first quarter, it was still far ahead of its rivals, TrendForce said. TSMC continued to benefit from emerging technologies, such as high-performance computing devices, the Internet of Things and automotive electronics, as it posted US$18.15 billion in sales in the second quarter, up 3.5 percent
Moderna Inc has refused to hand over to China the core intellectual property behind the development of its COVID-19 vaccine, leading to a collapse in negotiations on its sale in the country, the Financial Times reported on Saturday, citing people familiar with the matter. The Cambridge, Massachusetts-based pharmaceutical company turned down China’s request to disclose the formula for its mRNA vaccine because of commercial and safety concerns, the newspaper said, citing people involved in negotiations that took place from 2020 to last year, adding that the vaccine maker is still “eager” to sell the product to China. The company had “given up”
GLOBAL EXPANSION: The Taichung bank is expected to complete the takeover of the Los Angeles-based lender in the spring, in a transaction valued at US$82.1 million Taichung Commercial Bank (TCB, 台中商銀) on Saturday said that its board of directors has approved a plan to acquire California-based American Continental Bank as part of an effort to expand its global reach. Pending regulatory approvals, TCB said it would create a subsidiary to acquire American Continental Bancorp, the holding company of American Continental Bank, through a reverse triangular merger. That would allow the Taiwanese bank to hold a 100 percent stake in American Continental Bancorp, it said. TCB said it plans to acquire the US bank at US$41.48 per share, but the actual cash consideration would be determined at the deal’s close. The