CX Technology Taps Pioneer's Speaker Supply Chain

Taipei, March 15, 2012 (CENS)--Becoming part of Japan's Pioneer's supply chain of speakers, the Taiwan-based CX Technology Corp., a large-sized supplier of magnetic induction speaker parts, has secured a new growth drive for its business in the short term.

The company now is world's largest supplier of its kind with a market share of 7-8%, and ambitiously plans to boost the figure to 15% in the years to come.

Taking the company years-long efforts to develop, plastic injection molded components with inserted metal forgings are the company's ace in the hole to achieve the said goal. The company confirmed that Pioneer has switched its contract orders for plastic injection molded parts to its factory in Vietnam, which is engaged in making the cutting-edge products, from original suppliers whose production lines were damaged by the 9.0-magnitude earthquake occurring on March 11, 2011. Hopefully, the products will contribute 10% to its sales revenue this year.

Meanwhile, CX Technology has also managed to tap the Chinese market for auto parts for the moment, which will also pump growth momentum into its revenue.

The company indicated that it has been well on its way to the segment for auto and motor parts so far by cooperating with Kamiita, a Japanese auto parts supplier, to jointly develop cold forging and punching technologies, and become an assisting supplier for the Japanese customer.

The company furthered that the Japanese partner without any capacity established in China has recently decided to take advantage of CX Technology, which now runs two factories there, to jointly penetrate the fast-growing market for auto parts in the country.

Technologically supported by the Japanese partner, CX Technology has almost opened the door to the lucrative market, as the company has built a positive link with a local auto parts supplier contracted by Honda, whose parts samples jointly developed between the two sides are scheduled for mass production in 2013 to serve as another revenue growth locomotive.

The Taiwanese company reported net profits of NT$12.91 million, or NT$0.16 per share, and sales revenue of NT$1.307 billion for the first three quarters of 2011. Presently, globally famous enterprises as Pioneer, Harman, D&M, JBL and Bose are among the company's customers.

CX Technology's Business Performance by Years
Year	2006	2007	2008	2009	2010	2011 (as of end of Q3)
Sales Revenue	NT$1.415 B.	NT$1.656 B.	NT$1.695 B.	NT$1.481 B.	NT$1.975 B.	NT$1.307 B.
Net Profits	NT$37 M.	NT$78 M.	NT$31 M.	- NT$53 M.	NT$11 M.	NT$12 M.
EPS	NT$0.5	NT$1.0	NT$0.38	- NT$0.65	NT$0.14	NT$0.16

Source: CX Technology