Taiwan-listed Auto-Parts Makers Report Record Results

Taipei, Jan. 4, 2011 (CENS)--Three auto-parts makers listed in Taiwan are expected to post record annual earnings for 2010, including Tong Yang Industrial Co., Ltd., Ta Yih Industrial Co., and Kian Shen Corp.

Institutional investors estimate that Ta Yih, the largest original equipment (OE) auto-lamp supplier in Taiwan, is expected to report pretax earnings between NT$450 million to NT$460 million (US$15 million to US%15.3 million), for pretax earnings per share (EPS) of about NT$6 (US$0.2).

After merging with affiliated Taiwan Kai Yih Industrial Co., Ltd., a sheet-metal automotive body-parts maker, Tong Yang, the world's largest supplier of aftermarket (AM) automotive plastic body parts and a major OE supplier to automakers in Taiwan and China, reported cumulated pretax earnings of NT$1.51 billion (US$50.3 million) in the first 11 months of 2010, for EPS of NT$3.23 (US$0.1), both record highs.

Kian Shen, a vehicle-frame maker under the Yulon Group, registered cumulated revenue of about NT$1.1 billion (US$35.5 million) in the first 11 months of 2010, up 32.9% year-on-year (YoY). Institutional investors estimate that the company's pretax earnings and EPS for the period were over NT$290 million (US$9.7 million) and NT$4.4 (US$0.15), respectively. Kian Shen's subsidiaries in China, including Guangzhou TNT and Xiamen Kinglong Kianshen Structure Products, contributed more than NT$250 million (US$8.3 million).

Thanks to recovering domestic demand and increased exports to Mazda and Suzuki Japan, Ta Yih reported cumulated revenue of about NT$3.51 billion (US$117 million) in the first 11 months of 2010, for pretax EPS of NT$5.6 (US$0.19).