 2015-05-18 |
|
|
YC to Reduce Capital by 10% in Cash Return to Shareholders; ACHEM Operations Stabilize
Reporter Zhang Huiwen / Taipei Report
To enhance shareholder returns, YC (4306) announced yesterday a 10% cash capital reduction, returning funds to shareholders. The reduction amounts to NT$5.12 billion, which will eliminate approximately 5,127 shares. Following the reduction, the capital will be NT$46.15 billion. YC's stock closed down slightly by NT$0.15 at NT$14.75.
Earlier, YC reported that its revenue for April was NT$15.79 billion, a 9.66% increase from the previous month. However, cumulative revenue for January to April decreased by 13.34% compared to the same period last year. The group's subsidiary, ACHEM (1715), reported consolidated revenue of NT$9.26 billion for April, up 6.96% from the previous month, with a cumulative revenue decrease of 7.64% for the first four months. Xinzhou Global (3171) had April consolidated revenue of NT$1.41 billion, a 5.73% increase from the previous month, with a cumulative decrease of 5.38% for the first four months.
YC Group stated that ACHEM, after experiencing a downturn in international oil prices and unit selling prices in Q1, has seen operational recovery with increased export orders to the U.S. and Japan and stabilized demand in China. With the addition of operations at the Yangmei PE plant and Hai'an plant in China in the second half of this year, and the gradual realization of vertical integration benefits, ACHEM's overall operations are expected to show a gradual upward growth trend.
Additionally, after integrating its packaging business, Xinzhou Global has seen significant operational benefits in Taiwan. The Taiwanese packaging market is expected to continue stable growth this year. Following last year's restructuring, China's packaging operations are now breaking even monthly, with plans to expand into Central and North China. The benefits of reduced procurement costs and improved operational performance in China are anticipated to significantly boost Xinzhou Global operations and profitability this year. |
|
