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Wah Lee Industrial Corp. (3010.TT) announced September 2019 unaudited consolidated sales of NT$4,965M, setting record high monthly sales. The cumulative Jan.-Sep. consolidated sales reached NT$40,666M, grew by 3.3% from the same period last year and set the record high quarterly sales. Under the impacts 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 Legislative Yuan has passed the revised “Renewable Energy Laws” in April. The related sub-laws are estimated to be put into effect latest by this year end. When implemented, the laws will require big energy consumption companies to establish renewable energy facilities and consume a certain percentage of green energy. There will be thousands of companies affected. The government has taken steps to enforce the green energy usage and include energy storage systems into renewable energy facilities. Under the encouragement of the policies, the energy storage systems are highly prospective.
20% of renewable energy of total power generation is set as a target before year 2025 and raise the total green power source to 27GW. The government’s policies make enterprises assured of the market size and be willing to invest in green energy. The industry pointed out that TSMC’s 3nm fab in southern science park alone would need green energy of 1Gw/h, Google had purchased in Taiwan the first green energy source in Asia in the beginning of this year, and Apple required that 100% of its suppliers need to use green energy. In the international trend of green energy, Wah Lee has cultivated in the solar power energy sector for many years and pushed further into energy storage systems (ESS). The company has teamed up with ESS specialist Eco Energy Corporation and AIOT platform Chunghwa Telecom together to penetrate into the ESS market.
In addition to business enterprises, the laws also require government agencies, public schools, and government enterprises to install renewable energy devices when new construction and expansion is implemented. The policies have opened more opportunities for the ESS business and the market size for 2021 is expected to reach NT$ tens of billions. Wah Lee will cooperate with Eco Energy Corp. and Chunghwa Telecom to generate new additional sales revenues and create an environment of clean power and air to fulfill corporate social responsibilities and contribute to a sustainable environment.
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Sectors |
Jan.-Sep. 2019 Sales % |
|
ICT materials (high-end engineering plastics & PCB) |
42.4% |
|
Semiconductor |
19.3% |
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FPD (TFT LCD, touch panel) |
29.4% |
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Green Energy (solar, LED, rechargeable battery) |
4.1% |
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Others |
4.7% |