Tuesday, July 16, 2024
PR Newswire Area

Genes Tech Group Announces 2023 Interim Results

Total revenue reached approximately NTD749.51 million, representing an increase of approximately 25.63%

Revenue from the the turnkey solutions increased by approximately 59.74% to approximately NTD 373.37 million

Basic earnings per share were NTD7.66 cents

2023 Interim Results Highlights

  • Total revenue reached approximately NTD749.51 million, representing an increase of approximately 25.63%
  • Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD76.34 million
  • Revenue from the turnkey solutions increased by approximately 59.74% to approximately NTD 373.37 million
  • Basic earnings per share were NTD7.66 cents

HONG KONG, Aug. 11, 2023 /PRNewswire/ — Genes Tech Group Holdings Co. Ltd (“Genes Tech Group” or “The Group”, Stock Code: 8257.HK) announces its interim results for the six months ended 30 June, 2023 (“During the period”). During the period, the Group recorded the total revenue of approximately NTD749.51 million, Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD76.34 million. Basic earnings per share were NTD7.66 cents. 

During the period, revenue from the turnkey solutions amounted to approximately NTD373.37 million, representing an increase of approximately 59.74% as compared to the corresponding period of last year and accounting for approximately 49.81% of the Group’s total revenue. The revenue from trading of used SME and parts amounted to approximately NTD376.15 million, accounting for approximately 50.19% of the Group’s total revenue. During the period under review, revenue from the domestic business in Taiwan accounted for approximately 65.74% of the Group’s total revenue.

In 2023, the global semiconductor industry is facing a complicated operating environment affected by weak end market demand and continuous inventory adjustment. It denotes the start of a downward industrial cycle for the semiconductor market. According to the latest forecast report released by the World Semiconductor Trade Statistics (WSTS), due to the weak demand from smartphones and personal computers, the two major semiconductor downstream sectors, the global semiconductor sales forecast for 2023 is significantly revised downwards to USD515.095 billion, representing a decrease of 10.3% as compared to 2022, which is the first contraction since 2019. However, WSTS also points out that the demand in artificial intelligence (AI), industry, automotive electronics and other fields remains strong, which can make up for the weak demand for semiconductors in the consumer field. WSTS forecasts that global semiconductor sales will increase by 11.8% year-on-year to USD575.997 billion in 2024 and hitting a record high. According to the Semiconductor Equipment and Materials International (SEMI), it is estimated that global sales of SME by OEMs in 2023 will decrease to USD87.4 billion, representing a decrease of 18.6%. A strong rebound to USD100 billion is expected in 2024.

On the other hand, artificial intelligence (AI) will be a key area of the High-tech industry. The development and coopetition of the global semiconductor industry will remain in a state of change and complexity. The Group will pay close attention to the changes in the market environment, respond to market changes in a prudent and prompt manner to seize development opportunities, and actively explore market development opportunities.

Mr. Yang Ming-Hsiang, Chairman and Chief Executive Officer concluded: “In general, there is a differentiation in the consumer and industry, automotive electronics fields of the global semiconductor market. The growth in sectors including telecommunications, consumer electronics and data centers will slow down in the coming years due to the weak demand in the consumer sector caused by inflation and rising interest rates. Benefiting from the booming emerging industries such as new energy vehicles, autonomous vehicles (ADAS) industry, high performance computing (HPC), cloud infrastructure investment, industrial automation, artificial intelligence (AI), Internet of Things (“IoT”), metaverse and wearable devices, there will be a strong demand, driving a strong growth in automotive semiconductors and industrial semiconductors. The Group will increase its efforts in talent exploration, strengthen its innovation and R & D capabilities, and improve the core competitiveness of the Group to further expand market share and create long-term value for shareholders.

About Genes Tech Group Holdings Co. Ltd (Stock Code: 8257.HK)

Genes Tech Group Holdings Co. Ltd is turnkey solution provider and exporter of used SME and parts in Taiwan. Since the commencement of its business in 2009, the Group mainly engaged in providing turnkey solution of used SME and parts to its customers and modifying and/or upgrading the semiconductor equipment of its production systems according to customers needs. In addition, the Group is also engaged in the trading of used SEM and parts. The used SME and parts supplied by the Group included furnaces, clean tracks and other related items, which were used at the front-end of the semiconductor manufacturing process, wafer fabrication such as deposition, photoresist coating and development, and these were extensively applied in mobile phones, game consoles, DVD players, automotive sensors and other digital electronic products.