Monday, June 17, 2024
PR Newswire Area

Genes Tech Group Announces 2023 Q3 Results

Total revenue reached approximately NTD1,107.85 million

Revenue from the the turnkey solutions increased by approximately 9% to approximately NTD608.24 million

Basic earnings per share were NTD8.35 cents

Q3 Results Highlights

  • The total revenue reached approximately NTD1,107.85 million
  • Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD77.16 million
  • Revenue from the turkey solutions increased by approximately 9% to approximately NTD608.24 million
  • Basic earnings per share were NTD8.35 cents

HONG KONG, Nov. 10, 2023 /PRNewswire/ — Genes Tech Group Holdings Co. Ltd (“Genes Tech Group” or “The Group”, Stock Code: 8257.HK) announces its Q3 results for the nine months ended 30 September 2023 (“During the period”). During the period, the Group recorded the total revenue of approximately NTD1,107.85 million. Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD77.16 million. Basic earnings per share were NTD8.35 cents.

During the period, revenue from the turnkey solutions amounted to approximately NTD608.24 million, representing an increase of approximately 9% as compared to the corresponding period of last year, accounting for approximately 54.9% of the Group’s total revenue. The revenue from trading of used SME and parts amounted to approximately NTD499.61 million, accounting for approximately 45.1% of the Group’s total revenue. During the period under review, revenue from the domestic business in Taiwan accounted for approximately 55.12% of the Group’s total revenue.

According to information from the World Semiconductor Trade Statistics (WSTS), the global semiconductor market grew by 4.2% year-over-year in the second quarter of 2023. This will be the first positive quarterly growth since the fourth quarter of 2021. The semiconductor market has been slowing down since the fourth quarter of 2021 after growing rapidly in 2020 due to the impact of the COVID-19 pandemic. The reason behind this is the weak economic growth caused by inflation and rising interest rates around the globe, causing the weak demand in consumer semiconductor end-markets such as personal computers and smartphones. Research institutes are forecasting a decline in the semiconductor market for the whole year of 2023, with Future Horizons predicting a 20% year-over-year decline and Tech Insights predicting a 10% year-over-year decline. Semiconductor Intelligence predicts a 13% decline. According to the Development Institution of Industry, Technology and International Strategy of the Industrial Technology Research Institute (IEK) in Taiwan, the current status of Taiwan’s semiconductor industry is as follows. The total production value of the semiconductor industry in Taiwan reached NT$1,015.0 billion in the second quarter of 2023, representing an increase of 0.7% quarter-over-quarter, and a decrease of 18% year-over-year. IEK expects the semiconductor industry to bottom out in the second half of the year. The production value of the semiconductor industry in Taiwan in 2023 will be NT$4.2 trillion, representing an annual decrease of 12.1%.

Mr. Yang Ming-Hsiang, Chairman and Chief Executive Officer concluded: “The global semiconductor industry is subject to supply and demand adjustments in 2022 due to general economic factors and a slowdown in some end-use demand. However, increasing demand for new applications such as HPC, 5G, artificial intelligence (AI), and automotive electronics will drive the semiconductor industry towards a new direction. Among which, the demand for automotive semiconductors will grow due to the increase in demand for smart vehicle applications such as electric vehicles and advanced driver assistance systems (ADAS). In addition, under the influence of geopolitics, major semiconductor countries have launched strategies to support the localization of semiconductors, which have also affected the market and regional layout of semiconductor industry players and proposed corresponding competitive strategies to face the new development trend. 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 new business opportunities. The Group will also intensify its efforts to identify talents, strengthen its innovation and R&D capabilities, enhance its core competitiveness, and create long-term shareholder value.”

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 SEM and parts. The 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.