Huaxia Reports Q1 Net Loss Per Share of NT$0.21, Improvement from Last Year

TAIPEI (CNA) — PVC manufacturer Huaxia today announced its first-quarter financial results. Revenue reached NT$2.673 billion, an 8.5% year-on-year increase. The net loss attributable to the parent company was NT$120 million, an improvement compared to the NT$268 million net loss in the same period last year, with a net loss per share of NT$0.21 for the quarter.

Huaxia had previously stated at an investor conference that with the outbreak of the conflict in the Middle East, the situation for the PVC market had shifted from a previous downturn to an improvement. It was anticipated that the Middle East conflict would reverse the supply and demand dynamics of the PVC market, pushing prices upwards. However, as the Middle East conflict erupted at the end of February, Huaxia's first-quarter financial report does not yet fully reflect the impact of the conflict.

Wu Chien-hsing, Director of Huaxia's Sales Department and spokesperson, analyzed that after the outbreak of the Middle East conflict, shipping through the Strait of Hormuz was obstructed, preventing the transportation of petroleum raw materials. Several PVC manufacturers declared force majeure, leading to a reduction in market supply, which is beneficial for the overall supply and demand to move towards balance. (Editor: Chang Chun-mao) 1150504

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