Huatek Factory Visit: Priced at NT$30 for Innovation Board Listing, Over 100 Units of Orders Pending Delivery by Year-End

Huatek (2237-TW) will hold a pre-listing earnings presentation for the Innovation Board on the 10th, with a tentative offering price of NT$30 per share. Huatek Chairman Tsai Yu-Ching stated on the 9th that the company currently holds approximately 25% market share in Taiwan. This year’s order volume stands at around 300 units, with 189 units already delivered in the first half. Operational momentum remains solid, but Tsai acknowledged, “It will take great effort to match the first half’s performance in the second half.” As the company has primarily grown in tandem with government policies, it now aims to transform by integrating more software and smart devices to gradually reduce future reliance on policy support, while also expanding into overseas markets.

As Taiwan’s leading electric bus manufacturer, Huatek has cumulatively mass-produced nearly 1,000 units, delivering vehicles across 12 counties and cities, maintaining a market share of about 25%. The company expects to deliver over 100 additional units by the end of the year. Chairman Tsai is determined to steadily advance toward large-scale smart manufacturing.

Huatek’s consolidated revenue for the first half of the year reached NT$1.838 billion, a year-on-year increase of 142.73%. Operating profit amounted to NT$245 million, up 745.59% year-on-year, with earnings per share (EPS) at NT$2.08.

Huatek’s Wuci plant in Taichung City. (Photo: Common News reporter Wang Wan-Ning)

Since launching Taiwan’s first electric bus in 2011, Huatek became the first domestic company in 2019 to obtain VSCC certification for independent electric bus design and development. It was also the first to complete VIN code registration (RK0) for electric commercial vehicles and obtain Taiwan’s first electric bus license plate, 001-FV. From the demonstration phase (2020) to the promotion phase (2025), seven of its vehicle models have passed the qualification review under the Ministry of Transportation’s subsidy program, with continuous product upgrades across generations.