Taiwan Business Quick Take

Virus worries impact TAIEX

The TAIEX yesterday moved lower to close below 17,000 points, as investors’ concerns over a surge in domestic COVID-19 cases continued. Selling focused on large-cap tech stocks, while cyclical old economy stocks also came under pressure later in the session as investors locked in gains posted in previous sessions, dealers said. The TAIEX ended down 109.99 points, or 0.64 percent, at 16,966.22, while turnover totaled NT$398.405 billion (US$14.348 billion), up from NT$350.72 billion the previous day. Foreign institutional investors sold a net NT$14.97 billion of shares on the market yesterday, Taiwan Stock Exchange data showed.


Innolux profit soars 42.3%

Flat-panel maker Innolux Corp (群創) yesterday posted NT$31.38 billion in revenue for last month, the highest in about four-and-a-half years. Revenue increased 3.4 percent from April and 42.3 percent from a year earlier. Shipments of large panels for computers and TVs rose 4 percent sequentially, while shipments of small panels dropped 2 percent. During the first five months of the year, revenue surged 56.36 percent year-on-year to NT$145.56 billion.


Hiroca’s sales rise 10.73%

Automotive components maker Hiroca Holdings Ltd (廣華控股) yesterday reported consolidated sales of NT$8441.84 million for last month, up 10.73 percent year-on-year. Hiroca, which produces interior trim parts, as well as plastic, fabric and leather decorations, said that an increase in shipments to major automakers in China boosted its sales last month. However, revenue fell 20.78 percent from April due to a shortage of chips, the firm said. Cumulative sales in the first five months of this year rose 51.61 percent to NT$2.77 billion from a year earlier.


Winbond buys equipment

Winbond Electronics Corp (華邦電) yesterday said that it has ordered NT$5.33 billion of manufacturing equipment from Applied Materials South East Asia Pte Ltd, after its board of directors approved a NT$378 million capital expenditure last month. Revenue last month soared 92.05 percent to NT$8.21 billion year-on-year from NT$4.27 billion last year, but edged lower 1 percent month-on-month from NT$8.3 billion in April. Cumulative revenue in the first five months totaled NT$29.63 billion from NT$15.9 billion last year.


Value Valves demand rises

Value Valves Co (捷流閥業) yesterday reported that revenue last month rose 1.1 percent month-on-month to NT$208.1 million, the highest this year, thanks to rising demand in the electronics and petrochemical industries. However, the figure fell 0.34 percent year-on-year. In the first five months, cumulative revenue fell 8.97 percent to NT$923.91 million from last year, as major customers delayed orders over COVID-19 concerns, the firm said.


Sheh Fung Screws revenue increases

Screw manufacturer Sheh Fung Screws Co (世豐螺絲) yesterday posted NT$244 million in revenue for last month, a spike of 71.86 percent from a year earlier on the back of selling prices hikes and strong demand from the US market. Demand for screws is gaining heat as the property market in the US market recovers and do-it-yourself home improvement projects grow increasingly popular, the Kaohsiung-based company said. Shipping clogs protracted delivery time and helped boost selling prices, it said, adding that a low base last year also lent support to the impressive showing.


HTC VR headsets to launch

HTC Corp (宏達電) yesterday said that it would launch new virtual reality (VR) headsets in its Vive lineup tomorrow. The Vive Pro 2, a successor to the original Vive Pro, is to sell for NT$24,900. It features a 120-degree field of view, a refresh rate of 120 hertz, and “premium 5K fidelity,” with 2.5k resolution per eye, HTC said. The Vive Focus 3, the latest in the firm’s series of all-in-one business-oriented VR headsets, can be preordered from today, before its June 25 launch, for NT$32,900, it said.