Topco Technologies, which distributes silicone materials for Japan's Shin-Etsu Chemical, has seen clear order visibility through 2022 and remains upbeat about its business prospects for the months ahead, according to the company.
The company said silicone demand remains extremely strong for diverse applications including cosmetics, consumer electronics, automotive electronics, and smart healthcare, and its silicone materials have been widely adopted by overseas vendors of auto components, wearable devices, game consoles and other solutions.
Topco said silicone prices are expected to continue trending upward as the supply of the main material si remains short of supply.
The company has reported its third-quarter 2021 revenues grew 18% on year to NT$2.474 billion (US$88.70 million), and net earnings for the period rose 10.6% sequentially and 52.64% on year hitting a record high of NT$157 million.
Its combined sales for the first nine months of the year surged 20.44% on year to NT$6.917 billion, and net profits jumped 55.5% on year to NT$439 million, already higher than total annual earnings for 2020.