Wah Lee Industrial Corp. (3010.TT) announced its September 2021 consolidated sales of NT$6.563 billion, a growth of 12.48% over the same period last year. Cumulative Jan.-Sep. consolidated sales reached NT$51.906 billion, a growth of 19.74% YoY.
Semiconductor foundry capacities are forecast to be tight all the way to next year. IC foundry prices are kept high and sales momentum of fabs are maintained at high levels. 5G, HPC, and EV demands drive the industry growth. Wah Lee, as the leading provider of front end manufacturing process key raw materials, has seen its sales of photoresist, electronic-grade chemicals, specialty gases, and CMP slurry grown at double digits. The company also plans to follow its critical customer’s move to new production base overseas and become their steadfast partner.
Next generation electronic products sold and promoted to the US and EU markets by Wah Lee began to take off in the 3rd quarter after facing the difficulties of getting raw materials, cargo, and shipment in the 1st half. Benefitted from the back to school season and the incremental budgets on education implemented by the Biden administration, related sales has grown by near 80% by the end of September. FPD related ICs are in short supply all the way to 1Q next year. Wah Lee has secured multiple sources of supplies of related ICs such as driver ICs, power management ICs and T-con ICs and has seen sales contributed significantly.
High end engineering plastics also benefitted from the remote working and on-line education in the first 3 quarters. Sales of thermoset plastics applied in power supplies of NB and smartphones have grown by more than 40%. It’s also qualified as the material for EV charging poles, new generation game consoles, 5G base stations, and small cell base stations. Its wide applications will continue to drive strong sales.
IC substrate makers’ capacities have been booked by major cloud storage providers and internet companies. Wah Lee’s dry film for high resolution DI grade IC substrate manufacturing process has grown by near 20% as a result of the launches of many new consumer electronic products. As customers obtain orders for CPU and mini LED, the dry film sales into 4Q will remain robust.