Nanya Technology Corp (
The company also said it will seek to raise NT$8 billion (US$231 million) from the sale of global depositary receipts priced at NT$20 each, or a 43 percent premium to the close of the company's share price today.
Nanya's results were in keeping with losses and profit slumps riddling Taiwan's technology industries, which form the backbone of the nation's economy. Taiwan is suffering from a global slowdown, as consumers in the US, Japan and Europe buy fewer computers, mobile phones and other electronic gadgetry.
"I don't think any memory-chip company can make a profit," said Simon Chao, who helps manage NT$700 million in securities at President Investment Trust Corp (
Nanya said it expects a NT$2.2 billion loss for the third quarter and a NT$96 million profit for the fourth. That will add up to a full-year loss of NT$5.8 billion, the company said, scrubbing its earlier forecast of a NT$2.3 billion profit.
The sale of 400 global depositary receipts, which is bigger than the company earlier signaled, is expected to help Nanya finance a chip factory it built last year. Chao said the technology employed by the plant is "not very advanced."
Sales in the second quarter fell 12 percent to NT$2.9 billion after memory chip prices slumped more than 90 percent in the past year. Nanya lowered its full-year sales forecast to NT$15.9 billion.
Shares in Nanya, part of the Formosa Group, Taiwan's biggest chemicals company, fell NT$0.45, or 3.1 percent, to NT$14. The shares have fallen 77 percent since they were sold publicly last August, compared with a 45 percent fall in the main TWSE Index.
SECURITY: As China is ‘reshaping’ Hong Kong’s population, Taiwan must raise the eligibility threshold for applications from Hong Kongers, Chiu Chui-cheng said When Hong Kong and Macau citizens apply for residency in Taiwan, it would be under a new category that includes a “national security observation period,” Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said yesterday. President William Lai (賴清德) on March 13 announced 17 strategies to counter China’s aggression toward Taiwan, including incorporating national security considerations into the review process for residency applications from Hong Kong and Macau citizens. The situation in Hong Kong is constantly changing, Chiu said to media yesterday on the sidelines of the Taipei Technology Run hosted by the Taipei Neihu Technology Park Development Association. With
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
TRADE: A mandatory declaration of origin for manufactured goods bound for the US is to take effect on May 7 to block China from exploiting Taiwan’s trade channels All products manufactured in Taiwan and exported to the US must include a signed declaration of origin starting on May 7, the Bureau of Foreign Trade announced yesterday. US President Donald Trump on April 2 imposed a 32 percent tariff on imports from Taiwan, but one week later announced a 90-day pause on its implementation. However, a universal 10 percent tariff was immediately applied to most imports from around the world. On April 12, the Trump administration further exempted computers, smartphones and semiconductors from the new tariffs. In response, President William Lai’s (賴清德) administration has introduced a series of countermeasures to support affected
Pope Francis is be laid to rest on Saturday after lying in state for three days in St Peter’s Basilica, where the faithful are expected to flock to pay their respects to history’s first Latin American pontiff. The cardinals met yesterday in the Vatican’s synod hall to chart the next steps before a conclave begins to choose Francis’ successor, as condolences poured in from around the world. According to current norms, the conclave must begin between May 5 and 10. The cardinals set the funeral for Saturday at 10am in St Peter’s Square, to be celebrated by the dean of the College