Tue, Nov 15, 2022 page11

• Taiwan Business Quick Take

  • Staff writer, with CNA
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  EQUITIES

  Foreign share purchases up

  Foreign investors last week bought a net NT$89.53 billion (US$2.88 million) of local shares after selling a net NT$18.39 billion a week earlier, the Taiwan Stock Exchange said in a statement yesterday. As of Friday, foreign investors had sold NT$1.27 trillion of local shares since the beginning of the year, it said. The top three shares bought by foreign investors last week were United Microelectronics Corp (聯電), Shin Kong Financial Holding Co (新光金控) and Walsin Lihwa Corp (華新麗華), while the top three shares sold by foreign investors were Hon Hai Precision Industry Co (鴻海精密), China Airlines Ltd (中華航空) and E.Sun Financial Holding Co (玉山金控). As of Friday, the market capitalization of shares held by foreign investors was NT$17.32 trillion, or 39.68 percent of total market capitalization, it said.

  CHASSIS MAKERS

  Slower Chenbro Q4 no issue

  Server chassis manufacturer Chenbro Micom Co (勤誠興業) yesterday said that its operations are expected to slow this quarter from last quarter due to customers’ product transitions and inventory adjustments. As the company’s sales in the first three quarters of this year had already increased by a double-digit percentage from a year earlier, it remains optimistic about its full-year sales performance, Chenbro president Corona Chen (陳亞男) told an investors’ conference in Taipei. Chenbro reported net profit of NT$439 million last quarter, a 104 percent annual increase, with earnings per share of NT$3.65. Revenue was NT$3.03 billion, up 14.5 percent from a year earlier. The company earned NT$7.01 per share in the first three quarters of this year, already exceeding the NT$5.62 it registered for the whole of last year.

  ELECTRIC VEHICLES

  Hon Hai venture under way

  Hon Hai Precision Industry Co (鴻海精密) on Saturday said that a joint venture with Thai state-owned oil supplier PTT Public Co had broken ground on an electric vehicle (EV) factory in Thailand. The joint venture, Horizon Plus Co, had previously said that it plans to invest about US$1 billion in the EV manufacturing plant in the Rojana Nong Yai Industrial Estate. The Horizon Plus plant would begin manufacturing in 2024, and initially produce 50,000 vehicles a year, with the aim of scaling up annual production to 150,000 vehicles a year by 2030, Hon Hai said in a statement. PTT president and chief executive officer Auttapol Rerkpiboon said the joint venture would also invest in research to bolster the development of the EV industry in ASEAN countries.

  ELEVATORS

  GFC optimistic this quarter

  Elevator and escalator supplier Golden Friends Corp (GFC, 崇友實業) is positive about business this quarter after achieving record profit last quarter on the back of new demand and replacement needs, as well as maintenance demand. Net profit rose 11.97 percent from a year earlier to NT$238 million in the July-to-September period, while earnings per share grew 11.67 percent to NT$1.34, the company said on Wednesday. Third-quarter revenue totaled NT$1.33 billion, with gross margin standing at 29.47 percent, it said. New demand and replacement needs generated 55.47 percent of revenue, increasing 8.43 percent year-on-year despite economic uncertainty, it said. About 80 percent of new elevators require maintenance services after their warranty periods expire, and the number of elevators in need of maintenance is 39,932 at present, it added.
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