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.
Huawei Technologies Co’s (華為) latest smartphones carry a version of the advanced made-in-China processor it revealed last year, results from an independent analysis showed. This underscored the Chinese company’s ability to sustain production of the controversial chip. The Pura 70 series unveiled last week sports the Kirin 9010 processor, research firm TechInsights found during a teardown of the device. This is a newer version of the Kirin 9000s, made by Semiconductor Manufacturing International Corp (SMIC, 中芯) for the Mate 60 Pro, which had alarmed officials in Washington who thought a 7-nanometer chip was beyond China’s capabilities. Huawei has enjoyed a resurgence since
purpose: Tesla’s CEO sought to meet senior Chinese officials to discuss the rollout of its ‘full self-driving’ software in China and approval to transfer data they had collected Tesla Inc CEO Elon Musk arrived in Beijing yesterday on an unannounced visit, where he is expected to meet senior officials to discuss the rollout of "full self-driving" (FSD) software and permission to transfer data overseas, according to a person with knowledge of the matter. Chinese state media reported that he met Premier Li Qiang (李強) in Beijing, during which Li told Musk that Tesla's development in China could be regarded as a successful example of US-China economic and trade cooperation. Musk confirmed his meeting with the premier yesterday with a post on social media platform X. "Honored to meet with Premier Li
Dutch brewing company Heineken NV on Friday announced an investment of NT$13.5 billion (US$414.62 million) over the next five years in Taiwan. The first multinational brewing company to operate in Taiwan, Heineken made the statement at a ceremony held at its brewery in Pingtung County. It also outlined its efforts to make the brewery “net zero” by 2030. Heineken has been in the Taiwanese market for 20 years, Heineken Taiwan managing director Jeff Wu (吳建甫) said. With strong support from local consumers, the Dutch brewery decided to transition from sales to manufacturing in the country, Wu said. Heineken assumed majority ownership and management rights
GROWTH DRIVERS: The firm expects to benefit from generative AI applications for smartphones, higher average selling price of flagship chips and market share gains Smartphone chip designer MediaTek Inc (聯發科) yesterday said it estimates that revenue would expand at an annual rate of about 15 percent this year, as a proliferation of generative artificial intelligence (AI) applications for premium smartphones are fueling demand for its flagship smartphone chips. It expects its smartphone chip revenue to outgrow the company’s average growth rate this year, benefiting primarily from the higher average selling price of its flagship smartphone chips and market share gains. The flagship chip revenue is to soar 50 percent year-on-year this year, MediaTek told an investor conference yesterday. As a whole, this year’s gross margin is