TWSE-listed firms record over 28% year-on-year sales growth in February

Taipei, Sales generated by companies listed on the Taiwan Stock Exchange (TWSE) rose in February by more than 28 percent from a year earlier, as many of them climbed out of the doldrums caused by the COVID-19 pandemic, according to the TWSE.

TWSE data showed the aggregate revenue posted by 946 firms listed on its main board at NT$2.48 trillion (US$87.94 billion) in February, up 28.12 percent year-on-year.

One company, the biotech firm Pharmally International Holding Co., which is registered in the Cayman Islands and launched its primary listing in Taiwan in 2015, failed to report its February sales to the TWSE.

The aggregate sales of the 871 Taiwan firms that reported was NT$2.43 trillion in February, up 28.08 percent from a year earlier, the data showed. For the 75 listed foreign companies, their sales totaled NT$53.6 million, an increase of 30.10 percent year-on-year, according to the data.

Among the 946 firms that reported their sales, 639 showed year-on-year sales growth, while 307 saw a decline, the TWSE said.

The TWSE said the electronics sector benefited from solid global demand in February and a relatively low comparison base over the same period of last year.

Electronics firms that manufacture a wide range of products, including the world’s largest contract electronics maker Hon Hai Precision Industry Co., recorded the highest year-on-year sales growth of 79.40 percent to a total of NT$436.3 billion, the data showed.

Hon Hai, also known as Foxconn, led the field, with its February consolidated sales rising 84.81 percent from a year earlier to NT$401.89 billion, as the latest iPhone, which it assembles, did well on the market, the TWSE said.

Meanwhile, shipping companies, including Evergreen Marine Corp. and Yang Ming Marine Transport Co., posted NT$90 billion in sales in February, up 55.71 percent from a year earlier, on the back of increased freight rates, the TWSE said.

In the electronics component industry, aggregate sales rose 45.85 percent in February from a year earlier to NT$124.4 billion.

Among the electronics component makers, contract chipmaker Taiwan Semiconductor Manufacturing Co. reported record high consolidated sales of NT$106.53 billion in February, up 14.1 percent from a year earlier, with analysts attributing the growth to strong demand for the company’s high-end processes.

The fuel and electric industry, however, saw a 9.90 percent year-on-year drop in February sales to NT$45.5 billion, the information service industry sales fell 8.77 percent to NT$5.2 billion, and the financial and insurance industry sales declined 2.91 percent to NT$223.3 billion, the data showed.

In the first two months of the year, the aggregate sales of the 946 firms totaled 5.55 trillion, up 25.97 percent from a year earlier, with 731 of them recording an increase and 215 reporting a decline, according to the data.

 

Source: Focus Taiwan News Channel

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