Tai Shing Electronic to go public on December 21
TAIPEI (The China Post/ANN) - TXC Corporation subsidiary Tai Shing Electronic has had its over-the-counter listing application approved by the Taipei Exchange Review Committee.
Tai Shing Electronic can go public and be traded on the exchange as early as December 21. The company has set December 1 as the date to host a press conference to review its financial performance pre-over-the-counter (OTC) listing.
Tai Shing Electronic is currently a listed company on the emerging stock market, whose brokers include Yuanta Securities and Fubon Financial. On Monday, Nov. 28, Tai Shing Electronic closed trading at NT$53.78, and it is estimated that once the company is OTC listed, it will trade at around NT$40.
Tai Shing Electronic’s capital stock is currently at NT$200 million, with 12.5 percent of the technology holdings of quarts component manufacturer TXC Corporation. Tai Shing Electronic primarily produces electromagnetic valves and relay products, and has production lines set up in Zhejiang Province and Ningbo, China. Tai Shing Electronic began the application process for publicly trading in August of 2015, and registered at the emerging stock market on Sept. 11, setting Lin Wan-hsing as the company’s chairman of the board of trustees and Lo Kai-nan as its general manager. At the same time, Tai Shing Electronic’s control components have been used in the manufacturing of automobiles, thus further allowing the company to expand into the hybrid automobile market.
Tai Shing Electronic’s revenue for 2015 totaled NT$609 million, with a surplus of NT$62.32 million after taxes. With a capital stock of NT$200 million, the after-tax EPS is NT$3.12. Stockholders thus decided to give out dividends of NT$2 per share, and this exchange took place on Aug. 11. In 2016, the reported revenue for the months of January to June was NT$273 million, with a gross margin of 38.75 percent, a pre-tax surplus of NT$41.18 million and a post-tax surplus of NT$27.15 million. The after-tax EPS for the six months was NT$1.36.
A trend for Tai Shing Electronic is that the sales performance is distributed 40 percent to 60 percent for the first and second halves of the year, respectively.
Another company that the TXC Corporation has invested in is RFID manufacturer Securitag Assembly Group Co., Ltd., a company that is currently listed on the OTC exchange.
- Tai Shing Electronic to go public on Dec. 21