Tongtai (TWSE: 4526) 2022 Q3 BOD Press Release

Tongtai (TWSE: 4526) 2022 Q3 BOD Press Release

TAIWAN (November 11, 2022) Tongtai Machine & Tool Co., Ltd. (TWSE: 4526) announced its financial results for the third quarter of 2022: consolidated revenue was NT$2.204 billion, down 0.302 billion (-12%) year over year; operating income was NT$0.1 billion, increased NT$0.03 billion quarter over quarter, net income was NT$0.112 billion, increased NT$0.092 billion quarter over quarter, net income attributable to owners of the company was NT$0.1 billion, increased NT$0.093 billion quarter over quarter, EPS in the third quarter was NT$0.39, increased NT$0.36 quarter over quarter. Tongtai for the year-to-September consolidated revenue was at NT$6.137 billion, net income attributable to owners of the company was NT$0.11 billion, EPS was NT$0.43.Third quarter revenue decline was negatively affected by global inflation, tighten monetary policy across main countries and zero-covid strategy in China. Net income was favorable for the improved gross margin, thanks to better product mix, and FX gains.

TAIWAN (November 10, 2022) Tongtai Machine & Tool Co., Ltd. (TWSE: 4526) reports its October consolidated revenue at NT$0.684 billion, down 22% month-over-month and down 3% year-over-year. Its year-to-October revenue reached NT$6.821 billion which was down 14% from year-on-year. Revenue decline was negatively affected by weaker market demand and inventory adjustment from supply chain.

As a whole, the revenue from machine tools accounts for 94%, printed circuit board (PCB) accounts for 6%, and the order in hand are about NT$4.4 billion. In terms of application, the automobile and motorcycle industry accounts for 40%, the processing industry accounts for 9%, the aerospace industry accounts for 8% and the electronics industry accounts for 6%. In terms of market area performance, Taiwan and China are the main market, accounting for 59%, other Asia regions account for 16%, Europe and America account for 25%.

The Honor Seiki Company Ltd. won the 31th National Award of Outstanding SMEs, representing the highest honor on business management, innovation strategies, financial stability, and ESG sustainable development. Honor「Honor, to be your partner」and fundamentally Honesty, Faith and Sustainable development. In the future, we dedicated to becoming the top strategic partner of intelligent CNC vertical lathe industry.

In terms of market expansion, we will participate the "Metalex 2022" (Booth No. Hall EH102 BI09) held in Thailand from 16-19 November, the proposes the best solutions of electric cars, and we will exhibit the Multi-tasking Turning Center (TD-2000YBC). To explore the new opportunities with local Thailand companies and Japanese companies.

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