 2014-12-10 |
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Liberty Times – December 10, 2014, 6:10 AM
Despite the downturn in petrochemical stocks due to falling oil prices, Taiwan's adhesive tape leader YC (4306) saw its stock soar to the daily limit of NT$16.4 upon opening yesterday, with buy orders still standing at 1,093 lots at the close. Analysts noted that although the November revenue figures did not show significant growth, it is anticipated that Xinzhou Global (3171), one of YC's subsidiaries, will experience notable growth in its packaging business in China next year after the business integration. Additionally, the capacities of its subsidiaries, including ACHEM (1715) and ACHEM Petrochemical, are expected to gradually increase, leading to better performance for YC in the coming year.
YC's revenue for November was NT$1.615 billion, a 0.27% increase from the previous month. For the first 11 months of the year, consolidated revenue was NT$18.35 billion, reflecting a 1.85% year-over-year growth. ACHEM reported NT$885 million in revenue for November, up 1.4% from the previous month, with a cumulative revenue of NT$10.03 billion for the first 11 months of the year, marking a 4.44% year-over-year growth. Xinzhou Global's revenue for November was NT$166 million, a 14.24% increase from the previous month, with a cumulative revenue of NT$1.618 billion for the first 11 months.
Among YC's subsidiaries, Xinzhou Global showed the most impressive growth rate. Following its packaging business integration, Xinzhou Global has not only shown operational benefits in Taiwan but also gradual growth in its "Bao Dashi" operations in China, achieving monthly profitability. Future plans include expanding business into Central and Northern China, and growth for Xinzhou Global is expected.
Additionally, ACHEM has seen a recovery in production at its Ningbo plant's OPP production line and benefited from the recovery of export markets in the U.S. and Japan. With high production and sales levels in Taiwan, November revenue showed a gradual recovery. Orders from the Americas and Asia (excluding China) remain stable, and December's overall performance is expected to continue this upward trend.
Analysts predict that with contributions from ACHEM, Xinzhou Global, and ACHEM Petrochemical, YC's revenue and profit will show steady growth next year. Foreign investors have been net buyers for three consecutive days, and the stock price has increased by over 7% in the past week.
(Reporter: Zhang Hui-wen) |
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