TONGTAI MACHINE & TOOL CO., LTD. (TWSE: 4526) held the Board meeting on August 11, 2022 and reported its 2nd quarter 2022 consolidated financial statements. Consolidated revenue for the 2nd quarter 2020 was NT$2.269 billion, representing a 22% decrease quarter-over-quarter and the second quarter EPS was NT$ 0.03 with net income NT$0.007 billion. Overall, in the first half of 2022, consolidated revenue NT$3.933 billion which decreased by 17% year-over-year and the earning per share for the first half of 2021 was NT$0.12 with net loss NT$0.0029 billion. The second quarter was mainly affected by factors such as raw material price hiking, the depreciation of JPY that benefit in price war of Japanese machine tools, the shortage of energy in Europe due to the Ukrainian-Russian war and the decline of GDP in China due to the COVID lockdown. The above-mentioned factors reduce the consolidated revenue this year.
In addition, the Company announced its consolidated revenue of July 2022 of NT$0.72 billion, decreased by 14% and 28% month-over-month and year-over-year, respectively. Accumulated consolidated revenue for the period ended July 31, 2022 was NT$4.68 billion, decreased by 19% year-over-year.
As a whole, the revenue from machine tools accounts for 93%, printed circuit board(PCB) accounts for 7%, and the order in hand are about 4.1 billion. In terms of application, the automobile and motorcycle industry accounts for 38%, the processing industry accounts for 9% , the aerospace industry accounts for 9% and the electronics industry accounts for 6%. In terms of market area performance, Taiwan and China are the main market, accounting for 63%, other Asia regions account for 14%, Europe and America account for 22%.
In terms of market expansion, we target the machine tool market in Europe, America and Central Asia. We will participate in the “IMTS 2022” held in Chicago from 9/12 to 9/17, “MAKTEK EURASIA” which held in Turkey from 9/26 to 10/1, hoping to expand visibility of European, American and Central Asian brands. In terms of PCB, we will participate in the “Taiwan 3D Printing & Additive Manufacturing show” held in Taipei from 8/24 to 8/27, through the accumulation of nearly ten years of experience, we will provide solutions including biomedicine, mold and thermal management. The Subsidiary Suzhou TongYu will participate the “CSFE” held in Ningbo from 8/24 to 8/27, “Wuhan International Machine Tool Exhibition” held in Wuhan from 9/1 to 9/4, “CWMTE” held in Chongqing, we target customers in Yangtze River Delta, the throughfare to nine provinces and the upper Yangtze River and cooperated with the opening of the South China T-TAC Technology Center on 9/16, so that customers can have a more comprehensive understanding and services, and accelerate the expansion of the Chinese mainland market.
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Tong-Tai Machine & Tool Co. Ltd. published this content on 19 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2022 00:53:01 UTC.