 2009-07-29 |
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(Reporter Zhang Zhi-Yao, Taipei)
YC (4306.TW) announced today (29th) its consolidated pre-tax earnings for the first half of the year, reporting a remarkable NT$2.14 per share, showcasing outstanding performance among plastic stocks. In terms of construction, its subsidiary, Wangzhou Construction, is expected to launch a project on a 1,838 ping (approximately 6,078 square meters) plot of land in Neihu next year. Analysts estimate that with the current price of NT$500,000 per ping, the total sales amount could reach NT$3.75 billion.
Since last year, when YC began mass production of its film production line, both revenue and profits have seen significant growth. Despite the financial crisis last year, it still achieved an impressive post-tax earnings of NT$3.13 per share, surprising many in the plastic industry who suffered from falling raw material prices.
Although the overall economy has not yet fully recovered from the recession, the company continues to report impressive profit levels for the first half of the year, indicating sustained and stable growth. YC attributes this to the contributions from its core plastic business and its investments in the construction industry as dual engines of growth. Looking ahead, these two sectors will continue to develop and will contribute to the group's growth momentum over the next three years.
In the plastic segment, YC has launched a new film production line in Ningbo, China, this year and plans to add another line in Taiwan next year, which will gradually contribute to revenues in 2010 and 2011. Starting next year, the group's combined revenue is expected to reach NT$10 billion.
YC anticipates that once the two production lines are completed, its film output will rank among the top ten globally, positioning it as the world's largest vertically integrated packaging materials manufacturer.
Regarding the construction sector, YC stated that its subsidiary, Wangzhou Construction, plans to launch a project on the 1,838 ping plot in Neihu next year, which will result in significant appreciation in asset value. Analysts estimate that with the current price of NT$500,000 per ping, the total sales amount could reach NT$3.75 billion, which will provide considerable profit contributions for YC, making it a significant source of income.
YC will conduct a stock dividend distribution on August 12, allocating a stock dividend of NT$1.54343305 per share and a cash dividend of NT$0.27237054 per share, totaling NT$1.82 in distributions. |
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