RESTAURANTS
Wowprime income surges
Wowprime Corp (王品) yesterday reported a surge in net income for last quarter and said that a reorganization project has begun to bear fruit. The restaurant chain operator’s net income for the July-to-September quarter rose 226.31 percent quarter-on-quarter and 360.8 percent year-on-year to NT$280 million (US$8.68 million). Earnings per share (EPS) reached the highest in more than eight years at NT$3.77. Wowprime attributed the strong performance to its ongoing reorganization efforts and to improving business in Taiwan, which offset declining revenue in China. Third-quarter sales totaled NT$5.11 billion, up 44.91 quarterly and 35.61 percent annually, thanks to recovering customer traffic, improved holiday sales and contributions from store expansion. Compared with a year earlier, Wowprime said it had swung into profit as of the end of the third quarter with net profit of NT$180 million and EPS of NT$2.41 after revenue rose 9.49 percent to NT$13.31 billion, a company record for the three-quarter period.
CHIP DESIGNERS
ICatch to debut today
Fabless IC designer iCatch Technology Inc (芯鼎科技) is today to debut its shares on the main board at NT$36.15 per share, the Taiwan Stock Exchange said yesterday. It would be the 17th domestic company to debut on the main board this year, the exchange said in a statement. The Hsinchu-based company designs advanced digital imaging system-on-chip (SoC) solutions for image signal processors and offers automotive image solutions for advanced driver assistance system camera modules. In addition, the company provides SoC solutions for consumer imaging devices. With paid-in capital of NT$850 million, the company reported net profit of NT$137 million last year, or EPS of NT$1.9, compared with a net loss of NT$77 million in 2020.
SHIPBUILDERS
Lungteh listing approved
The Taiwan Stock Exchange on Wednesday said its securities listing review committee has approved the initial listing application of Lungteh Shipbuilding Co (龍德造船). Under chairman Huang Shou-chen (黃守真), Lungteh has paid-in capital of NT$980 million. It reported EPS of NT$1.57 in the first half of this year after registering EPS of NT$2.67 last year and NT$2.01 in 2020, the exchange said. The company is headquartered in Yilan County’s Dongshan Township (冬山) and has a shipyard in the county’s Suao Township (蘇澳). Its business mainly involves shipbuilding and ship maintenance services.
MANUFACTURERS
Sheh Fung profit rises
Kaohsiung-based screw manufacturer Sheh Fung Screws Co (世豐螺絲) on Oct. 28 reported a 37.72 percent pickup in net profit to NT$114 million for last quarter, as its efforts to expand in Europe paid off. The figures translated into record EPS of NT$2.14. Its board of directors approved the distribution of a NT$1.5 per share cash dividend based on the profit. The company plans to set aside NT$77 million, or 70 percent, of its third-quarter profit to finance the proposed payout. Sheh Fung attributed the impressive showing to its fast-growing business in Europe, where authorities imposed anti-dumping taxes on screw imports from China, the New Taiwan dollar has depreciated and prices for raw materials have declined. The company said it is positive about its business this quarter, backed by demand from do-it-yourself home improvement projects and construction work in the US.
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
Taiwan’s food delivery market could undergo a major shift if Singapore-based Grab Holdings Ltd completes its planned acquisition of Delivery Hero SE’s Foodpanda business in Taiwan, industry experts said. Grab on Monday last week announced it would acquire Foodpanda’s Taiwan operations for US$600 million. The deal is expected to be finalized in the second half of this year, with Grab aiming to complete user migration to its platform by the first half of next year. A duopoly between Uber Eats and Foodpanda dominates Taiwan’s delivery market, a structure that has remained intact since the Fair Trade Commission (FTC) blocked Uber Technologies Inc’s
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