Automotive part maker Iron Force Industrial, viewing that main international automakers have planned to launch new models of new energy cars and sales of new cars are being boosted in the China market, looks to potentially increased orders, according to industry sources.
Iron Force produces automotive parts, mainly consisting of precision metal tubes of seat belt retractors, airbag inflators, and steering columns, at three factories separately in central Taiwan, eastern China and Poland.
In addition, Iron Force produces display fixtures at its Taiwan factory and has set up an R&D and logistics center for display fixtures in Germany.
Currently, automotive parts and display fixtures take up 79% and 21% respectively of its consolidated revenues.
To copy with COVID-induced lockdown in some Chinese cities, Iron Force discussed scheduling shipments with clients and material/component suppliers and coordinated scheduling of production among the three factories in the second quarter of 2022.
Iron Force posted consolidated revenues of NT$2.040 billion, gross margin of 23.19%, operating profit of NT$150.9 million, net profit of NT$163.3 million and net EPS of NT$2.15 for the first half of the year.