Rechi to Hit Record Q1 Revenue in Company History: The Company

Rechi Precision Co., Ltd., a major air-conditioner compressor maker and exporter in Taiwan, recently said that its first-quarter revenue is expected to hit record quarterly high in company history, thanks to flooding orders.

In March, the company said, most of its shipments went to China's top-5 air-conditioner vendors, including Haier, Midea, TCL, Gree and Haisense.

In the first two months of this year, Rechi sold about 2.55 million compressors, up 46.4%  YoY (year-on-year), generating cumulative consolidated revenue of NT$3.33 billion (US$111 million), up 39.8% YoY. From January to February, Rechi's shipments were mostly smaller-type compressors ordered by  customers in North America.

A major manufacturer of compressor in Taiwan and globally, Rechi operates production bases in Guanyin, northern Taiwan, Huizhou, Guangdong Province of China, and Qingdao, Shandong Province of China. In 2013, the group shipped some 12.36 million compressors, generating consolidated revenue of NT$16.47 billion (US$549.1 million).

Rechi claims to target delivering more than 13 million compressors this year, up about 10%, and its major customers include all the global  air-conditioner vendors based in China.