Sinbon Electronics Co’s (信邦電子) operating performance last quarter and in the first three quarters of this year reached record highs, as increased sales of wind power cable assemblies and gains in nonoperating income helped offset the rising costs of imported connectors and larger operating expenses, the producer of cables, connectors and modems said on Friday.
Net profit in the third quarter rose 11.39 percent quarter-on-quarter and 27.74 percent year-on-year to NT$758 million (US$23.55 million), while net profit in the first three quarters increased 21.17 percent annually to NT$2.28 billion, the company said in a statement.
Earnings per share in the third quarter were NT$3.58 and totaled NT$9.71 in the first three quarters, both records for the company, which was established in 1989, Sinbon said.
Photo courtesy of Sinbon Electronics Co
Despite an increase in revenue, Sinbon’s gross margin in the third quarter decreased by 0.20 percentage points annually to 25.3 percent and in the first three quarters dropped 0.24 percentage points year-on-year to 25.53 percent.
The company attributed its lower gross margin to the depreciation of foreign currencies, which resulted in imported connectors costing more, as well as higher operating expenses caused by an increase in its labor force, and higher transportation and business development costs.
Sinbon’s products include medical and healthcare devices, automotive components, products used in industrial control applications, peripheral components for communications and electronic devices, cable assemblies for microinverters, alternating current power devices and wind power generators.
The company said that despite some uncertainty in the consumer market, it remains optimistic about demand for its products thanks to green energy, automation and electric vehicle trends.
Sinbon said it expects to achieve double-digit growth in revenue this year and next year.
The company has also expanded its business scope to electric vehicles, scooters and bicycles, and recently became involved in electric motorcycles after establishing a strategic partnership with Vancouver, Canada-based Damon Motors Inc on Oct. 16, Sinbon said.
Under the terms of the partnership, Sinbon is to provide its engineering services during the design and the manufacturing stages for the electrical components used in Damon’s line of motorcycles, it said.
“As Damon Motors’ high-performance motorcycles are one-tenth the weight of a typical motorcycle, Sinbon’s advanced manufacturing techniques will allow Damon to scale its designs in HyperSports with the highest quality capabilities and expertise available,” Sinbon said in the statement, referring to the Canadian firm’s high-performance, all-electric sport motorcycle models.
As “part of our Go Green campaign, Sinbon is committed to environmental sustainability by helping put more environmentally friendly products on our planet,” Sinbon global sales vice president Jesse Huang (黃文森) said. “We are very excited about our opportunity with Damon, arguably a green tech leader in the motorcycle industry.”
Sinbon also obtained Damon’s US$500,000 unsecured convertible bonds via a private placement, wants to deepen its relationship with the electric motorcycle maker, the company said in a regulatory filing on Friday.
Real estate agent and property developer JSL Construction & Development Co (愛山林) led the average compensation rankings among companies listed on the Taiwan Stock Exchange (TWSE) last year, while contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) finished 14th. JSL Construction paid its employees total average compensation of NT$4.78 million (US$159,701), down 13.5 percent from a year earlier, but still ahead of the most profitable listed tech giants, including TSMC, TWSE data showed. Last year, the average compensation (which includes salary, overtime, bonuses and allowances) paid by TSMC rose 21.6 percent to reach about NT$3.33 million, lifting its ranking by 10 notches
Popular vape brands such as Geek Bar might get more expensive in the US — if you can find them at all. Shipments of vapes from China to the US ground to a near halt last month from a year ago, official data showed, hit by US President Donald Trump’s tariffs and a crackdown on unauthorized e-cigarettes in the world’s biggest market for smoking alternatives. That includes Geek Bar, a brand of flavored vapes that is not authorized to sell in the US, but which had been widely available due to porous import controls. One retailer, who asked not to be named, because
SEASONAL WEAKNESS: The combined revenue of the top 10 foundries fell 5.4%, but rush orders and China’s subsidies partially offset slowing demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) further solidified its dominance in the global wafer foundry business in the first quarter of this year, remaining far ahead of its closest rival, Samsung Electronics Co, TrendForce Corp (集邦科技) said yesterday. TSMC posted US$25.52 billion in sales in the January-to-March period, down 5 percent from the previous quarter, but its market share rose from 67.1 percent the previous quarter to 67.6 percent, TrendForce said in a report. While smartphone-related wafer shipments declined in the first quarter due to seasonal factors, solid demand for artificial intelligence (AI) and high-performance computing (HPC) devices and urgent TV-related orders
MINERAL DIPLOMACY: The Chinese commerce ministry said it approved applications for the export of rare earths in a move that could help ease US-China trade tensions Chinese Vice Premier He Lifeng (何立峰) is today to meet a US delegation for talks in the UK, Beijing announced on Saturday amid a fragile truce in the trade dispute between the two powers. He is to visit the UK from yesterday to Friday at the invitation of the British government, the Chinese Ministry of Foreign Affairs said in a statement. He and US representatives are to cochair the first meeting of the US-China economic and trade consultation mechanism, it said. US President Donald Trump on Friday announced that a new round of trade talks with China would start in London beginning today,
RSS