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Welltend sees revenue contribution from factories in Southeast Asia

Ninelu Tu, Taipei; Adam Hwang, DIGITIMES 0

Welltrend's products. Credit: DIGITIMES

Welltend Technology has discloed it had about 40% of third-quarter 2021 wire harness and cable assembly revenues coming from four factories in Thailand and the Philippines, with these factories becoming a main source of sales growth.

Welltend also produces wire harness and cable assembly at two factories in China and provides IT system integration services in the Taiwan market.

Welltend posted consolidated revenues of NT$932.1 million (US$33.4 million), gross margin of 21.87%, operating profit of NT$93.1 million and net profit of NT$63.6 million third-quarter 2021, leading to consolidated revenues of NT$2.507 billion, gross margin of 20.88%, operating profit of NT$193.2 million and net profit of NT$121.2 million for January-September.

Wire harness and cable assembly accounted for 62.70% of the January-September revenues, and IT system integration services took up 37.30%. In terms of applications, electric home appliances accounted for 40% of the revenues, and office machines, automotive components and IT products each for 15-20%.

For wire harness used in automotive components, Welltend has obtained IATF (International Automotive Task Force) 16949 certification and China is the main market.

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