Genes Tech Group Holdings Co. Ltd Announces 2020 Q3 Results
Revenue from the trading of SME and parts substantially increased by approximately 3 times to approximately NTD354.25 million
Successfully gained increasing international orders despite fierce competition, revenue from its business in the US surged by approximately 1.5 times
Q3 Results Highlights
- Stable business profitability with the total revenue amounted to approximately NTD1,188.60 million
- Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD116.98 million
- Revenue from the trading of SME and parts increased substantially by approximately 294.66% to approximately NTD354.25 million
- Revenue from US business surged by 145.20% to NTD144.91 million as compared to the same period last year
- The gearing ratio decreased around 26 percentage points to approximately 76.53%
- Basic earnings per share were NTD11.37 cents
HONG KONG, Nov. 11, 2020 /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 2020 ("During the period"). During the period, the total revenue of the Group amounted to approximately NTD1,188.60 million. Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD116.98 million. The gearing ratio decreased around 26 percentage points to approximately 76.53%. Basic earnings per share were NTD11.37 cents.
During the period, revenue from the trading of SME and parts amounted to approximately NTD354.25 million, representing an increase of approximately 294.66% as compared to the corresponding period last year and accounting for approximately 29.80% of the Group's total revenue. The Group believes such significant revenue growth of this business was attributable to the acquisition of Astro Thermal Technology Corporation last year. Turnkey solutions were still the major revenue source for the Group. The revenue from turnkey solutions amounted to approximately NTD834.34 million, accounting for approximately 70.20% of the Group's total revenue. Despite the global outbreak of the novel coronavirus pneumonia (COVID-19) epidemic in 2020, compared with other countries in Asia, COVID-19 epidemic has not caused significant impact on Taiwan economy. In addition, the Group has been able to seize the opportunities and continued to secure more domestic and international orders to expand its revenue sources by adjusting its business strategies in a timely manner. During the period, revenue from the domestic business in Taiwan accounted for approximately 60.72% of Group's total revenue, while the US semiconductor customers have also gradually shifted to cooperate with suppliers in Taiwan, which in turn contributed to the revenue of the Group's US business, which surged by 145.20% as compared to the same period last year.
Looking forward, with the advent of the digital economy era, the restructuring of the global industrial landscape will be promoted, and the information and communication technology will fully penetrate and integrate all industries. It is expected that after the epidemic, long-distance working and teaching models will become a new normal. Enterprises will accelerate the introduction of robots into business operations, and cloud and network services will become more popular, which will gradually change people's original lifestyle and consumption patterns and develop into a zero-contact economic model. In addition, the huge market potential not only continues to consolidate the domestic development of Taiwan semiconductor industry, but also brings unprecedented new opportunities for domestic semiconductor enterprises to expand into international markets.
Mr. Yang Ming-Hsiang, Chairman and Chief Executive Officer concluded: "In the past year, the epidemic has not only affected the global economic outlook, but also disrupted people's original lifestyle and working methods, laying a foundation for new economic growth. Our Management believes that as long as we respond to market changes in a prudent and prompt manner, and take advantage of the Group's core business to explore new business opportunities, the Group is able to seize the opportunities during the market growth more quickly and accurately, so as to capture the market share, further enhance our competitiveness and consolidate our leading position in the industry."
About Genes Tech Group Holdings Co. Ltd (Stock Code: 8257.HK)
Genes Tech Group Holdings Co. Ltd is a turnkey solution provider and exporter of SME and parts in Taiwan. Since the commencement of its business in 2009, the Group mainly engaged in providing turnkey solution of SME and parts to 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 SME 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.