Wah Lee Industrial Corp. (3010.TT) announced its 1st half 2022 consolidated financials after board approval. 1H22 consolidated sales reached NT$37.85 billion, net profit after tax and minority reached NT$1.42 billion, a growth of 15.1% over the same period last year. 1H22 EPS was NT$6.04 During the 1st half, the economic slowdown due to the inflation worldwide and the interest rate hikes, the geopolitical instability caused by Russia-Ukraine war, and the Chinese lockdown-created supply chain interruptions, had cast negative impacts on global economy. Wah Lee’s growing sales and profits were remarkable achievements.
Under the extreme challenges of worldwide economies, Wah Lee’s 1H22 consolidated sales reached NT$37.85 billion, YoY growth of 14.2% and set the record high. Gross profit of NT$2.99 billion and operating profit of NT$1.50 billion still showed positive core profit growth from last year. Net profit after tax was NT$1.56 billion, YoY growth of 12%, and EPS was NT$6.04 which meet the market expectations.
Despite the uncertainties in macro economies, the data centers, 5G, and automobile and EV related demands still support a structural stability for the semiconductor industry. Wah Lee’s major foundry customer’s capacity utilization rate is high because of the leading-edge technologies, which drove Wah Lee’s advanced semiconductor material sales such as photoresist, CMP slurry, specialty gases, and bulk chemicals. Looking forward to next half, Wah Lee has gained certifications for the foundry’s most advanced new process which will enter mass production. Plus that the material shortages from the competitor’s side, Wah Lee will actively assist customers to switch to our raw materials. Semiconductor sector of sales is expected to post double digit growth for the whole year.
Recently, Wah Lee obtained ESG-linked syndication loan of NT$5 billion from banks and is well prepared for the new product/business development. Currently, Wah Lee is focused on semiconductor, EV and 5G related products and is making progresses. With the aim to a better ESG goal, Wah Lee is marching toward net zero carbon emission, solar power plant build-ups and a higher corporate governance level.