Wah Lee Industrial Corp. (3010.TT) announced its September 2022 consolidated sales of NT$6.244 billion, which is the 2nd highest September sales in company history. Cumulative Jan.-Sep. consolidated sales reached NT$56.995 billion, a growth of 9.81% YoY.
The inflationary situations around the world since the beginning of this year had caused continuous interest hikes. Russia-Ukraine war lasted longer than anyone expected. Both events made the consumer end demands weaker. Destocking is the current industry focus. Among these challenging circumstances, Wah Lee still posted YoY sales growth.
However, Wah Lee is confident that the company is still on its long-term growth track. Semiconductor high end process keeps developing, 5G penetration rate continues to rise, and the more and more prevalent EV adoption will help boost the upstream raw material demands in the long run and, at the same time, keep the short term demands above certain levels.