Wah Hong sees profit hike in 1Q21

Rebecca Kuo, Taipei; Steve Shen, DIGITIMES Asia 0

Optoelectronics materials supplier Wah Hong Industrial has reported net profits surged 179% on year to a nine-year high of NT$96.04 million (US$3.5 million) in the first quarter of 2021, with EPS reaching NT$0.98.

The first-quarter earnings were higher than expected, bolstered by robust shipments of its optical films for TV, desktop and automotive display applications and other functional materials such as precision coating materials used to optimize manufacturing processes, the company said.

It has reported revenues of NT$883 million for April, increasing 2.36% from a year earlier. Year-to-date revenues totaled NT$3.583 billion, up 18.08% on year.

Looking ahead, the company said its order visibility for optical films remains clearer, with sales of other functional materials growing steadily thanks to demand from the 5G network and automotive segments.

Meanwhile, the company has also seen more design-ins of its heat dissipation materials, expecting these products to also serve as one of its growth drivers in 2021.