Sinbon posts record revenue
Sinbon Electronics Co (信邦電子), which produces cables, connectors and modems, yesterday reported record revenue of NT$2.16 billion (US$77.28 million) for last month due to increasing shipments of products used in medical and personal care devices, industrial control devices, communications and electronics peripheral components, as well as components for the automotive and green energy segments. The figure increased 0.91 percent from March and 24.49 percent from last year, the company said. Sinbon’s accumulated revenue for the first four months of the year totaled NT$8.143 billion, an increase of 30.38 percent from last year.
TOPBI shares rise 10%
China-focused apparel company TOPBI International Holdings Ltd (淘帝國際控股) yesterday saw its shares rise by the daily maximum 10 percent to NT$8.64 after the firm resumed trading of its shares on the local bourse. Trading of shares in the leading children’s clothing brand had been suspended since April 7 because TOPBI failed to present audited financial statements for last year. Last week, the firm gave the Taiwan Stock Exchange the financial statements, which showed that it made a net loss of NT$2.21 billion last year on revenue of NT$2.81 billion. The firm also reported revenue of NT$817 million for the first quarter of this year, down 5.54 percent from a year earlier.
Nanya revenue rises 15.4%
DRAM chipmaker Nanya Technology Corp (南亞科技) yesterday said that revenue last month rose 15.4 percent month-on-month to NT$7.39 billion, the highest in 31 months, as demand remained robust and prices continued to rise. On an annual basis, revenue grew 31.58 percent, the company said. In the first four months of this year, cumulative revenue totaled NT$25.13 billion, up 25.38 percent from the same period last year. The firm said that it has a positive outlook for this quarter, citing a global economic rebound, expanding application scope for memory products, and clear PC and laptop order visibility.
Senao’s gross margin dips
Senao Networks Inc (神準), which develops integrated connectivity, data networking and wireless voice communication products, yesterday reported that its gross margin in the first quarter dropped 2.5 basis points to 20.58 percent from a year earlier, due to rising raw material costs and unfavorable foreign-exchange rates. However, thanks to better expense controls, net income last quarter increased 6.4 percent year-on-year to NT$89.93 million. Earnings per share were NT$1.83, up from NT$1.72 a year earlier. Sales rose 12 percent year-on-year to NT$1.98 billion, the company said. Senao’s board of directors also approved a plan to distribute a cash dividend of NT$4 per share based on last year’s earnings per share of NT$7.67, representing a payout ratio of 52.15 percent.
Hi-Lai’s EPS hit NT$2.05
Restaurant operator Hi-Lai Foods Co Ltd (漢來美食) yesterday reported that its earnings per share (EPS) rose to NT$2.05 in the first quarter of the year, up from NT$0.64 in the same period last year. First-quarter revenue grew to NT$1.03 billion, from NT$839 million last year, as it benefited from a stabilized COVID-19 situation, the company said. This year’s focus would be operational adjustments and product development, Hi-Lai said, adding that it would remain conservative about adding new stores.
The Financial Supervisory Commission (FSC) yesterday fined Citibank Taiwan Ltd (花旗台灣) NT$10 million (US$357,194) and DBS Bank Taiwan (星展台灣) NT$6 million for breaches of the nation’s anti-money laundering (AML) regulations. The NT$10 million fine is the highest penalty that it has imposed on a domestic bank, the commission said. Citibank Taiwan failed to set up a sound mechanism for evaluating clients’ risk of money laundering and for detecting suspicious transactions, Banking Bureau Deputy Director-General Huang Kuang-hsi (黃光熙) told a news conference in New Taipei City. The bank based its AML policies on those of its US-based parent company, Citigroup Inc, but the policies
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