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Wah Lee Industrial Corp. (3010.TT) announced August 2019 unaudited consolidated sales of NT$4,883M, setting record high monthly sales in this year. The cumulative Jan.-Aug. consolidated sales reached NT$35,700M, grew by 3.5% from the same period last year. Under the great impact from macro economy, the operations are still maintained well in the high rank. Focusing on areas such as semiconductor front-end manufacturing processes, PCB high frequency substrates, next generation electronic products, and 5G, biomedical, Electric Vehicles, and energy storage system, Wah Lee has taken development measures that are well-positioned and diversified.
The business activities are greatly influenced by the trade tug of war between great nations. US-China, Japan-Korea trade wars have caused uncertainties in doing businesses and lead enterprises to focus more on broadened regional efforts.
Wah Lee has taken great steps to march into ASEAN markets before the government’s southward bound policy. In 2011, the Company set up its Vietnam operation and stretched its business scope into automobiles, electronics, sports good, consumers and cable segments. In 2014, it further reached out to Indonesian market and also developed cosmetics, food packaging, automobiles, and electric meters markets. Its geographic expansion was also successful.
After fruitful results in ASEAN markets, Wah Lee turned its aim to US and European markets. Depending on the stable relationship with its suppliers, Wah Lee started to sell world-renowned interactive electronic products. With the help of local display equipment producers and educational technology providers, Wah Lee successfully penetrated into the market. In the US, LCD modules were provided to all-in-one industrial computers and tablets and integrated into downstream to supply to medical, avionics, and bicycles areas. This industrial computer market is prosperous and has promising growth prospects.
Wah Lee’s supplier is top-notched in hardware manufacturing and software integration. The customized services to customers are heavily relied upon. Therefore, the business has great performance in North America, UK, Belgium, and Australia markets. Looking at US market, notwithstanding the US-China trade disputes, Wah Lee’s business has grown by more than 50% on the year-on-year basis. It doubled in the Belgium market. And the business has successfully started in the Indian and Russian markets. The above-mentioned business partners in the local markets will become important beachheads for future related businesses for Wah Lee. The Company is well-positioned to continue its business growth.
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Sectors |
Jan.-Aug. 2019 Sales % |
|
ICT materials (high-end engineering plastics & PCB) |
41.8% |
|
Semiconductor |
19.4% |
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FPD (TFT LCD, touch panel) |
29.9% |
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Green Energy (solar, LED, rechargeable battery) |
4.3% |
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Others |
4.6% |