TAIPEI (Taiwan News) — Tatung announced on Tuesday that May revenue was NT$4.18 billion (US$140 million), a month-on-month decrease of more than 2.53%.
Despite slowing monthly revenue, cumulative revenue in the first five months of this year was NT$19.014 billion, a year-on-year increase of 1.54%. Individual business groups also exhibited promising earnings, per CNYES.
The business conglomerate, formed in 1918 and mostly known for electric appliances such as rice cookers, attributed losses to US tariffs. However, in recent years, Tatung has diversified operations to include power equipment and energy solutions.
Tatung said its power business group showed 10% year-on-year growth and also saw increasing gross margins. Growth was attributed to the power equipment delivered to overseas customers.
In the industrial power business, the market demand for transformers is stable, with cumulative revenue in the first five months increasing by more than 40% year-on-year. As for the smart meter business group, it continues to ship products to Taipower and Japanese power companies.
The company also continues to expand into ASEAN markets such as Cambodia and Indonesia.
As for the motor business, Trump’s tariff policy has had some impact. However, small, medium-sized, and customized motors continue to ship, with cumulative revenue in the first five months increasing by more than 7% year-on-year.
Demand for new factories and dormitories has meant Tatung’s cable business has seen a gradual increase in orders from the non-public sector, as it is operating at full production capacity.
Cumulative revenue in the first five months for energy-saving commercial air conditioners compliant with the government's energy-saving policies increased by 5.5% year-on-year.
Tatung said it plans to start production at its Guanyin plant due to overseas market demand for heavy power products. Tatung believes this new capacity will allow it to compete for government bids and private orders.
