Tongtai (TWSE: 4526) 2024 Q2 BOD Press Release

Tongtai Machine & Tool Co., Ltd (4526) held a board meeting today (10th) to review the financial statements for the first quarter 2024. Tongtai's consolidated revenue for the first quarter was NT$1.32 billion (as the subsidiary, Honor Seiki, is already listed on the stock market, Tongtai's ownership ratio decreased to 44.88%, and its revenue is not consolidated). The core business encountered a challenge, incurring a loss of NT$160.98 million. Despite a boost from exchange gains and non-operating revenue of NT$51.3 million, it couldn't offset the core business loss caused by reduced revenue, resulting in an after-tax net loss of NT$105.84 million, with an EPS of NT$-0.41.

In April 2024, Tongtai Machine & Tool Co., Ltd (4526) achieved consolidated monthly revenue of NT$421.75 million, a decrease of 26% compared to the previous month. The company's accumulated consolidated revenue for the first quarter was NT$1.74 billion, a decrease of 19.67% compared to last year. The company's accrued orders total approximately NT$3 billion. Regarding product application performance, the automotive industry accounted for 40% of revenue, aerospace for 12%, and energy for 4%. Regarding market distribution, Taiwan and mainland China accounted for 48%, Europe and America for 30%, and other Asian regions for 22%.

Despite the current world economic situation and cautious corporate capital expenditure attitudes, Tongtai Machine & Tool Co., Ltd (4526) is forging ahead with strategic initiatives. The company is actively expanding its presence in diverse industrial markets, with a particular focus on the semiconductor equipment components and semiconductor process consumables processing industries. Tongtai is in active negotiations with multiple customers and anticipates positive outcomes in the second half of this year. Furthermore, the company is hosting an open house event at its Luke headquarters on May 23, showcasing its technical prowess and inviting supplier partners to join in pursuing a sustainable future transformation.