Syncmold's Q1 EPS Hits Three-Year Low of NT$0.35, Low-Earth Orbit Satellite Revenue Grows Quarter-on-Quarter

(Central News Agency reporter Tseng Jen-kai, Taipei, 6th) Bearing manufacturer Syncmold today announced its first-quarter financial report. Revenue was NT$2.115 billion, a year-on-year decrease of 5.7%, and almost flat compared to the fourth quarter of last year. Net profit attributable to the parent company was NT$50.98 million, a year-on-year decrease of 66.4% and a quarter-on-quarter decrease of 24.9%. The earnings per share (EPS) for the single quarter was NT$0.35, reaching a three-year low.

Syncmold's gross profit margin in the first quarter was 19.96%, a decrease of 1.12 percentage points quarter-on-quarter and a significant decrease of 6.4 percentage points year-on-year, falling below the 20% mark.

Syncmold stated that revenue and proportion from its low-Earth orbit (LEO) satellite business in the first quarter significantly increased compared to the same period last year. However, due to the overall PC industry's sluggish recovery and conservative replacement demand, first-quarter revenue declined year-on-year. In addition, there were exchange losses due to the appreciation of the RMB against the US dollar.

Looking ahead, Syncmold stated that benefiting from the strong growth momentum of the LEO satellite industry, its LEO satellite-related revenue scale is expected to double this year, becoming the main operating momentum. Syncmold is accelerating the promotion of several projects at the receiving and transmitting ends, which will be successively introduced into production in the second half of this year. It is estimated that the revenue scale and proportion from the space satellite sector will show quarter-on-quarter growth this year. (Editor: Chang Chun-mao) 1150506

Choose to stand with facts; every sponsorship you provide is a force for protecting press freedom.

Download the Central News Agency's "First-hand News" APP to stay updated with the latest news in real time.

Reproduction, public broadcast, public transmission, or utilization of the text, images, and videos on this website is prohibited without authorization.