Container shipper Yang Ming Marine Transport Corp (陽明海運) yesterday reported a record net profit of NT$60.86 billion (US$2.04 billion) in the first quarter, up 148 percent from NT$24.51 billion a year earlier.
Earnings per share (EPS) were NT$17.35, up from NT$7.49 a year earlier, it said.
The shipper attributed the profit growth to robust cargo demand and higher freight rates, which pushed revenue to expand 71 percent annually to NT$106.7 billion, it said in a statement.
Photo: CNA
Yang Ming said its gross profit advanced 142 percent to NT$75 billion and operating profit rose 148 percent to NT$72.3 billion in the first quarter.
Last week, Evergreen Marine Corp (長榮海運), the nation’s largest container shipper, also posted a record net profit of NT$101 billion in the first quarter, up 180 percent year-on-year, with EPS expanding from NT$7.04 to NT$19.16 over the period.
Wan Hai Lines Ltd (萬海航運), which focuses on the Asian market, also posted a record net profit of NT$40.61 billion last quarter, up 185 percent from a year earlier, with EPS widening to NT$16.64 from NT$6.62 a year earlier.
GROWING OWINGS: While Luxembourg and China swapped the top three spots, the US continued to be the largest exposure for Taiwan for the 41st consecutive quarter The US remained the largest debtor nation to Taiwan’s banking sector for the 41st consecutive quarter at the end of September, after local banks’ exposure to the US market rose more than 2 percent from three months earlier, the central bank said. Exposure to the US increased to US$198.896 billion, up US$4.026 billion, or 2.07 percent, from US$194.87 billion in the previous quarter, data released by the central bank showed on Friday. Of the increase, about US$1.4 billion came from banks’ investments in securitized products and interbank loans in the US, while another US$2.6 billion stemmed from trust assets, including mutual funds,
Micron Memory Taiwan Co (台灣美光), a subsidiary of US memorychip maker Micron Technology Inc, has been granted a NT$4.7 billion (US$149.5 million) subsidy under the Ministry of Economic Affairs A+ Corporate Innovation and R&D Enhancement program, the ministry said yesterday. The US memorychip maker’s program aims to back the development of high-performance and high-bandwidth memory chips with a total budget of NT$11.75 billion, the ministry said. Aside from the government funding, Micron is to inject the remaining investment of NT$7.06 billion as the company applied to participate the government’s Global Innovation Partnership Program to deepen technology cooperation, a ministry official told the
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s leading advanced chipmaker, officially began volume production of its 2-nanometer chips in the fourth quarter of this year, according to a recent update on the company’s Web site. The low-key announcement confirms that TSMC, the go-to chipmaker for artificial intelligence (AI) hardware providers Nvidia Corp and iPhone maker Apple Inc, met its original roadmap for the next-generation technology. Production is currently centered at Fab 22 in Kaohsiung, utilizing the company’s first-generation nanosheet transistor technology. The new architecture achieves “full-node strides in performance and power consumption,” TSMC said. The company described the 2nm process as
POTENTIAL demand: Tesla’s chance of reclaiming its leadership in EVs seems uncertain, but breakthrough in full self-driving could help boost sales, an analyst said Chinese auto giant BYD Co (比亞迪) is poised to surpass Tesla Inc as the world’s biggest electric vehicle (EV) company in annual sales. The two groups are expected to soon publish their final figures for this year, and based on sales data so far this year, there is almost no chance the US company led by CEO Elon Musk would retain its leadership position. As of the end of last month, BYD, which also produces hybrid vehicles, had sold 2.07 million EVs. Tesla, for its part, had sold 1.22 million by the end of September. Tesla’s September figures included a one-time boost in
RSS