 2009-06-10 |
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(Central News Agency reporter Wei Shu, Taipei)
Packaging materials giant YC (4306) announced revenue of NT$324.51 million for May, reflecting a growth of 2.95% compared to April. YC's investment in Wangzhou Construction is carefully planning the development of over 1,800 ping of land in Neihu's fifth redevelopment phase and 894 ping in the Linkou redevelopment area, with projects expected to be launched next year.
YC's revenue for May reached NT$324.51 million, an increase from NT$315.216 million in April, while consolidated revenue amounted to NT$513 million, marking a growth of 12.93% over April. YC stated that due to the average price of polypropylene stabilizing around US$1,040 per ton in May, external pricing also remained at the same level as in April. With oil prices reaching relatively high levels in June, the price of polypropylene is facing pressure. Additionally, as Q3 is typically a non-peak season, it is anticipated that raw material prices will remain stable, with a lower probability of price increases. Revenue for June is estimated to be around NT$300 million.
It is expected that YC's revenue in Q2 will significantly exceed that of Q1, and investment progress with affiliated companies continues. YC also mentioned that the expansion of the production line at Ningbo Yashuo in China is currently underway, with mass production expected to start in early Q3 of 2010. This aligns with the growth in consumer demand in China, and the group anticipates that revenue will challenge NT$10 billion next year.
Furthermore, regarding Wangzhou Construction, the government has opened the door for Chinese capital to purchase industrial properties, employee housing, and other real estate in Taiwan. With direct flights from Songshan Airport to major cities like Shanghai and Beijing, Wangzhou Construction is planning its holdings of over 1,800 ping in Neihu's redevelopment area and 894 ping in Linkou's redevelopment area, with projects expected to launch next year.
YC emphasized that the Neihu MRT line will soon be operational, making companies owning land in the Neihu area the focus of construction and asset stocks. Recently, Wangzhou Construction sold a 268.10 ping piece of land located on Wenhua 2nd Road in Linkou for NT$131 million, resulting in a profit of NT$40.56 million, contributing NT$0.25 to YC's EPS. |
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