Wah Lee Industrial Corp. (3010.TT) announced its November 2021 consolidated sales of NT$6.516 billion, a growth of 19.88% over the same period last year. Cumulative Jan.-Nov. consolidated sales reached NT$64.424 billion, a growth of 19.71% YoY.
The leading semiconductor foundry company has set a CAPEX target of USD 100 billion within the next 3 years, 80% of which will be used in building R&D and production capacities for advanced nodes. Driven by the double capacities for customer’s 5nm process, Wah Lee’s photoresist, electronic grade chemicals, specialty gases, and CMP slurry have delivered double digit growth. Wah Lee will also be prepared for customer’s overseas capacity expansion plans and strive for becoming the standard raw materials for their newly developed processes.
Wah Lee has cultivated in the camera lens market for years. The optical grade plastics from Japan has secured its position in a Chinese leading camera module company and also penetrated into the supply chain of a US brand name smartphones and tablets. With 5G becoming more and more prevalent, AR and VR devices will increase their shipments. Wah Lee has cooperated with the social media company to explore the opportunities in the metaverse and has spec-in the plastics for high end VR camera lenses. The business momentum will pick up quickly within the next 2 years.
The booming IC substrate market is expected to continue till year 2023. The three major Taiwanese IC substrate makers continue to expand their capacities and the expanded capacities have been booked by the demands from CPU, GPU, and ASIC. Wah Lee has co-worked with the supplier to deliver the stepper and DI grade high resolution dry films and obtained orders from the expanded capacities. Wah Lee has also obtained orders for the exposure equipment for the IC substrate fabs. With the 5G, EV, and AIoT becoming more common in the marketplace, high resolution dry films and exposure machines will contribute more sales revenues.