polarizer factory Chengmei Materials held a regular shareholders' meeting on June 28. Chairman He Zhaoyang said that the company "the most urgent time has passed". The purchase of materials has returned to normal. The company's vitality will be adjusted in the third quarter, and the target will gradually return to last year's level from October.
Chengmei Materials has frozen its credit limit this year due to the dispute over operating rights, and was forced to apply for debt negotiations, which has affected the company's financial situation such as material purchases and impacted short-term order acceptance.
He Zhaoyang said that the company continues to negotiate with the bank group and is confident that it can be terminated before the end of this year. Although the overall operation will still need to be returned to the situation before the debt negotiation in a short period of time, customers are slowly regaining their confidence and orders are gradually increasing.
Due to the low utilization rate of the factory's capacity during this period, Chengmei Materials seized the opportunity to transform the Tainan factory. He Zhaoyang said that through machine transformation, the current production capacity has increased by 20% compared with the past, and both technology and quality have been improved. The production line will continue to be optimized in the future, with a target monthly production capacity of more than 3 million square meters.
Chengmei Materials consolidated revenue in the first five months of this year NT$6.5 billion NT$2, an increase of 51.7% year-on-year. With the increase in production capacity of Tainan factories, it is also planned to begin to enter mainland China's mainland industrial control , monitors, laptop , as well as small and medium-sized panels such as mobile phones, which have been less ink-filled in the past.
He Zhaoyang said that Chengmei Materials Tainan Factory has four production lines, which has relatively advantages and confidence to enter the supply chain for entering the small and medium-sized panel market. It has increased R&D manpower and is actively engaged in market layout. The products are expected to contribute revenue in the first quarter of next year; the subsidiary Kunshan Qimei's 2.5-meter wide new production line will be put into mass production in the fourth quarter of this year according to the established schedule; through the layout of new products, the annual revenue will be challenged to grow by 20% next year compared with this year.
Chengmei Materials benefited from the strong demand for polarizers last year. Although it suffered losses for the third consecutive year, the loss range converged, with a net loss of 655 million yuan for the whole year.
News source: Taiwan Economic Daily
Cover image source: Paixin.com
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