CRIF: Taiwan's Mid-sized Groups' Total Assets Reach Record NT$2.8 Trillion, Led by Etron and Ingrasys
According to a CRIF Chinese Credit Information Service report, in 2024, Taiwan's mid-sized enterprise groups, led by Etron and Ingrasys, achieved record total assets of NT$2.8925 trillion and total revenue of NT$1.8042 trillion. After-tax net profit and the number of invested companies also reached historical highs. This growth was supported by Taiwan's 5.27% economic growth rate, exceeding the IMF's global forecast of 3.2%. Mid-sized groups outperformed larger groups in revenue growth rate, asset turnover, and ROA, demonstrating rapid market adaptation and flexible asset allocation. Key overseas investment regions include the US/Canada/Mexico, China, and ASEAN. Investment in China reached a 10-year high with NT$548.3 billion in assets and NT$451.5 billion in revenue. ASEAN investments also hit a 10-year high with 383 invested companies, NT$168.2 billion in assets, NT$128.3 billion in revenue, and NT$5.9 billion in after-tax net profit. The US/Canada/Mexico region also saw a 10-year high in investments, with 235 companies, NT$79.5 billion in assets, NT$99.1 billion in revenue, and a 10-year compound annual growth rate of 9.61% for revenue. CRIF recommends that Taiwanese enterprises focus on robotics, energy, and AI, strengthen multilateral supply chain resilience, and upgrade traditional industries to high-value sectors to drive future profit growth.
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- 📰 Published: April 14, 2026 at 13:25
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CRIF Chinese Credit Information Service's '2026 Edition Taiwan Mid-sized Group Enterprise Research' reviewed the operational status of Taiwan's mid-sized groups between 2018 and 2024. In 2024, Taiwan's mid-sized groups, led by Etron and Ingrasys, saw their total assets reach a new high of NT$2.8925 trillion. Total revenue reached NT$1.8042 trillion, and after-tax net profit totaled NT$142.6 billion, both marking historical highs. The number of invested companies hit a new peak of 4,193, surpassing 4,000 for two consecutive years. Revenue growth rate was 13.54%, asset growth rate 10.43%, after-tax growth rate 29.12%, and net profit margin 7.91%, all improving from 2023. This performance was supported by Taiwan's 5.27% economic growth rate, against an IMF global growth rate of 3.2%. Compared to large groups, mid-sized groups showed stronger performance in revenue growth rate, asset turnover, and return on assets (ROA), reflecting their agility and flexible asset allocation. Key overseas investment regions are the US/Canada/Mexico, China, and ASEAN, accounting for 1,309 companies combined (nearly 70% of total overseas investments, excluding low-tax jurisdictions). Investment in China by mid-sized groups reached a 10-year high with NT$548.3 billion in assets and NT$451.5 billion in revenue, exceeding the combined share of ASEAN and US/Canada/Mexico. In the ASEAN region, investments hit 10-year highs with 383 invested companies, NT$168.2 billion in assets, NT$128.3 billion in revenue, and NT$5.9 billion in after-tax net profit. Singapore consistently showed a higher net profit margin than the overall ASEAN region for three consecutive years. Vietnam recorded an after-tax growth rate of 96.04%. Philippines' profits grew eightfold in the last three years and became the largest source of ASEAN tourists to Taiwan in 2024. The trend of investing in the US/Canada/Mexico is also evident, with investments reaching 10-year highs: 235 companies, NT$79.5 billion in assets, and NT$99.1 billion in revenue. The revenue from this region significantly surpassed the combined total of Singapore, Vietnam, and the Philippines, and showed a 10-year compound annual growth rate of 9.61%. CRIF suggests that future profit growth for Taiwanese enterprises will depend on their ability to enter robotics, energy, and AI sectors, transform from supply chain followers to technology drivers, strengthen multilateral resilience by establishing supply chain hubs in non-sensitive areas (e.g., Mexico, Central/Eastern Europe), and upgrade traditional industries by developing high-tech smart materials or circular technologies, shifting from 'hidden champions' to 'ecosystem leaders' who define technical specifications.