TSE-listed Auto-Parts Makers Tong Yang, Hota Report Record Revenues in Aug.
2011/09/21 | By Quincy LiangTaipei, Sept. 21, 2011 (CENS)--Major auto-parts makers listed in Taiwan reported good results for August, except Gordon Auto Body Parts Co., Ltd. and Tung Thih Enterprise Co., Ltd. (TTE).
August is a traditional off month for auto-parts suppliers due to summer vacations for workers at most local automakers, with the third quarter being an off season for AM parts sales.
Hota Industrial Manufacturing Co., Ltd., a leading automotive gear and transmission parts maker, however, reported August revenue of NT$NT$285 million (US$9.8 million), a record monthly high and a 23.8% year-on-year (YoY) increase, with cumulated revenue in the first eight months of NT$1.26 billion (US$43.4 million), up about 16% YoY.
The company attributes its revenue growth to rising orders for continuous variable transmission (CVT) planet gears from the customer Punch. According to Hota, Punch has raised monthly purchases to 10,000 sets in August, from 6,000 to 8,000 sets previously. Demand for small passenger-car CVT systems has been strong in China due to booming new-car sales, flooding Punch's factory in Nanjing with orders.
Tong Yang Industrial Co., Ltd., the largest auto-parts manufacturer in Taiwan filling original equipment (OE) and aftermarket (AM) orders, registered August revenue of NT$1.04 billion (US$35.7 million), up 31.8% year-on-year (YoY), and cumulated revenue for the first eight months of NT$8.38 billion (US$289.1 million), a 34.1% YoY increase, with both figures being record highs.
Tong Yang attributes the record revenues to the merger with affiliated Taiwan Kai Yih Industrial Co., Ltd., a major sheet-metal body-parts supplier, as well as expanded capacity to effectively overcome erstwhile supply shortage.
TSE-listed Auto-Parts Makers' August Revenues | ||||
Company | Aug. Revenue | YoY | Jan.-Aug. Revenue | YoY |
Tong Yang | 10.36 | 31.8% | 83.8 | 34.1% |
Right Way Industrial | 0.78 | 23.6% | 6.5 | 29.5% |
Gordon | 2.57 | -5.7% | 20.4 | -5.5% |
Kian Shen Metal Works | 0.96 | -9.2% | 8.9 | 16.2% |
Hota | 2.85 | 23.8% | 12.6 | 16.0% |
TEE | 1.16 | 29.4% | 8.6 | -9.3% |