Electrical connector and cable assembly manufacturer Y-S Electronic Co Ltd (詠昇電子) yesterday listed its shares on Emerging Stock Market at NT$28 per share.
Founded in 1998, the Zhongli City (中壢), Taoyuan-based company has an initial capital of NT$305 million (US$10.5 million) and manufactures electrical connectors and cable assemblies used for TVs, computers for industrial use, DVD players, monitors and network communication products.
Y-S Electronic said it has been supplying its products to TV brands like South Korea’s Samsung Electronics Co and Japan’s Sharp Corp for 10 years, as well as to clients in Latin America, the US, Europe, Brazil and Asia.
Y-S Electronic designs and manufactures different types of electrical connectors, such as RJ45, USB, HDMI and I/O,
Connectors made for TVs are in the highest demand, the company said, followed by customized connectors made for industrial computers and connectors used for consumer electronics devices and DVD players.
Y-S Electronic said that connectors used for TVs accounted for more than 50 percent of the company’s sales, adding that because it can supply high-quality customized products to Samsung at low cost within a very short delivery time, 30 or 40 of the company’s products have been certified by Samsung’s supply chain.
Samsung is the biggest customer for Y-S Electronic, followed by the US’ Amphenol Corp and HARTING Inc, the company said.
Y-S Electronic posted NT$63.5 million in net profit for the first 11 months of the year, or earnings per share of NT$2.08, on revenue of NT$848 million.
The company forecast its revenue would grow significantly next year, driven by the increasing penetration rate of customized high-end electrical connectors used for medical equipment in the global market and rising demand for audio and video equipment for modified cars.
The company’s underwriter, Cathay Securities Co (國泰證券), said in an e-mailed statement that it forecast global electrical connector market value would total US$49.3 billion this year, up 8.5 percent compared with last year, supported by steady demand from industries, despite the global economic slowdown.
For next year, Cathay Securities forecast the global electrical connector market would grow by 12.5 percent to NT$55.4 billion.
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