Chen Rou News Today

Power and thermal management solutions provider Delta Electronics Inc (台達電) on Friday said it aims to achieve double-digit percentage growth in revenue this year, but warned of headwinds ahead as COVID-19 lockdowns in China cause supply chain disruptions, affecting business at its automation unit in particular. The company said it has suspended production lines at its manufacturing plant for industrial automation products in Wujiang District of Suzhou, China, to comply with the local gover...

Compal Electronics Inc (仁寶電腦), the world’s No. 2 contract notebook computer maker, yesterday forecast robust shipments for the year due to solid demand from enterprises and PC gamers. By contrast, global PC shipments this year are likely to be flat or edge lower, as Russia’s invasion of Ukraine is weighing on already weakening demand for notebook computers, mainly Chromebooks, because energy hikes are stoking inflation and hampering a recovery in Europe, the company said. “As Europ...

Lite-On Technology Corp (光寶科技) yesterday reported its highest earnings per share (EPS) in five years for the October-to-December quarter, thanks to an improved product mix and operating efficiency, the electronic components supplier said in a statement. The company posted fourth-quarter net profit of NT$2.51 billion (US$90.05 million), up 25 percent from a year earlier, but down 19 percent from the previous quarter on revenue of NT$44.57 billion. It was also up 8 percent year-on-year and...

Cheng Uei Precision Industry Co (正崴精密) on Friday announced that it had acquired 1.6 hectares of land in Phoenix, Arizona, as the cable and connector maker is planning to lease a factory and build a green-energy-related production base. It would be Cheng Uei’s first manufacturing site in the US, the firm said in a statement. Cheng Uei, headquartered in New Taipei City’s Tucheng District (土城), operates research-and-development and marketing bases in the US — in Los Angeles, San J...

The climate gauge for the nation’s manufacturing sector in September remained “yellow-red” for the fifth consecutive month, reflecting fast growth, even though port congestion and supply chain disruptions posed uncertainty and drove up operational costs, the Taiwan Institute of Economic Research (TIER, 台經院) said yesterday. The composite index for the manufacturing sector fell 0.21 points to 16.27 from August, as power rationing and emission restrictions in China slightly weighed on i...

Electronic components supplier Lite-On Technology Corp (光寶科技) yesterday said it expects revenue to grow at a quarterly pace of 10 percent this quarter, thanks to shipment delays of some automotive devices, computers and consumer electronics due to key component shortages. The company’s revenue last quarter grew to NT$41.86 billion (US$1.49 billion) — its highest level in about seven quarters. “The fourth quarter is normally an off-season ... but the third quarter [revenue] was affe...

Polyester fiber and plastics maker Shinkong Synthetic Fibers Corp (新光合成纖維) yesterday gave an upbeat outlook for the current quarter, expecting prices to remain high as a rally in crude oil prices is helping to prop up raw material costs. In addition, China’s power crisis and energy consumption controls have halted factory production and curtailed supply, Shinkong Synthetic president Samson Luo (羅時銓) told reporters on the sidelines of a product launch in Taipei. “We have see...

Wire harness maker BizLink Holding Inc (貿聯控股) on Friday announced that it had reached a binding agreement with Leoni AG to acquire the German company’s Leoni Industrial Solutions for 451 million euros (US$522.9 million) in an all-cash transaction. BizLink’s board of directors approved the acquisition and the company is planning to fund the deal with cash and bank financing, the company said in a regulatory filing. BizLink has NT$9.062 billion (US$325 million) in working capital, it s...

Taiwan Cooperative Bank (合作金庫銀行), the nation’s largest lender by number of branches, yesterday issued NT$1 billion (US$36.16 million) of sustainability bonds and listed the debt on the Taipei Exchange. It is the first sustainability bond launched by a state-run bank and it pushes the total amount of sustainability bonds issued in Taiwan to NT$50.4 billion since the first was launched in October last year, the exchange said in a statement. The Taipei Exchange, which manages the list...

Crunch worsening, Hon Hai says COMPONENTS ISSUE: Hon Hai’s Young Liu said that although prices for components and raw materials have increased, their influence on the company would be limited Bloomberg Hon Hai Precision Industry Co (鴻海精密), also known as Foxconn Technology Group (富士康科技集團), yesterday said that a global supply crunch that has hit the consumer electronics and automaking industries will worsen this quarter, after it...