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Wah Lee Industrial Corp. (3010.TT) announced that the Board had approved 1Q21 consolidated financial reports. 1Q21 net profit after tax reached NT$669 million, which is a record high for the same period in the past years. 1Q21 EPS reached NT$2.58/share, setting record second high.
Wah Lee’s 1Q21 consolidated sales was NT$16.284 billion, QoQ growth was 3.51% and YoY growth 31.8%. Gross profit was NT$1.438 billion, setting the best record for a quarter. Gross profit grew 9.5% QoQ and 43.1% YoY. Operating margin was 4.46%, contributed from the well control of operating expenses and set the best operating margin for the past 10 years. Net profit after tax was contributed from the well-performed core businesses and investment incomes and delivered a good number of NT$669 million.
All demands from HPC, automobile use, smartphones, and AIoT were performing well. Semicon industry expected full capacities in the next 18 months. Wah Lee, as an important supplier member of the world leading foundry maker, will seize the opportunities and provide front-end chemicals such as photoresist, electronic-grade chemicals, specialty gases, and CMP slurry.
Carbon reduction issue has been highlighted by most governments around the world. The local government also plans for the goal of reaching zero carbon emission by the year 2050. The world leading IC foundry company is planning to request its equipment supplier to reduce energy by 20% by year 2030. Wah Lee has echoed the world trend of carbon reduction and implement good ESG practices, the Company has invested into green energy, building solar power stations, pushing for ESS (Energy Storage System) business, and off-shore wind power system. By the end of year 2022, Wah Lee group will have contributed to the environment carbon reduction of 105,000 tons, or the equivalent of the carbon absorptions of 280 Da-An Forest Parks, or the equivalent of the provision of electricity used by 59,000 households per year, from the solar power generation businesses, contributing significantly to the sustainability of global environment.
The governments around the world have also encouraged the alternative energy vehicles and set the ending time for the traditional fossil fuel cars. The major automobile companies all deploy great resources on the electric vehicles. Wah Lee’s high-end engineering plastics have been provided to the traditional auto parts. In recent years, the company took a further step to provide to the EV markets; products applied in ECU, navigation system, speedometer, and the connectors for the camera modules. The thermoset plastics also provide to the charging poles and the electric parts of the EVs. Wah Lee has been riding on the growing trend of EV industry, helping the earth to get rid of the dependence on fossil fuels, doing a good CSR job, and realizing the values of ESG.