TAIPEI (Taiwan News) — Syntec Technology officially began trading on Taiwan’s stock market on Wednesday with an initial share price of NT$630 (US$21), which soon surged by more than 40% in early trade to reach NT$899, per CNA.

Traders highly anticipated the listing of the robot concept stock. The company's revenue exceeded NT$10 billion in 2024, and consolidated revenue for the first eight months of this year has already reached NT$9.155 billion, a year-on-year increase of 25.5%.

In the first half of the year, gross profit margin increased to 46.24%, and net profit after tax reached NT$1.08 billion, a year-on-year increase of 34.1%, with after-tax net profit per share of NT$17.2.

Syntec develops industrial robots and smart robot applications, including the development of control systems that serve as the "brain" of robots and other key mechanical components. Syntec said the group will continue to deepen its investment in AI, creating cost-effective and modular solutions to support the transformation of the manufacturing industry. 

Syntec Chair Tsai Yu-keng (蔡尤鏗) said the company will implement a multiregion production plan with the opening of its second plant in Suzhou, China, in 2026; a second plant in Malaysia in the second quarter of 2027; and the establishment of a new smart manufacturing base in the Tainan Science Park in the fourth quarter of 2028, per CNA.

Tsai said that Taiwan's machine tool industry has historically been competitive despite recent challenges brought about by tariffs and exchange rate fluctuations. He said the rise of China's machinery industry, however, poses a major challenge to the industry's past development model.

Tsai said Taiwan's downstream machine tool manufacturing industry continues to remain strong, as is the upstream supply chain for machine tool components. He said Taiwan needs to develop smart manufacturing that combines smart machinery and smart production, with sensor components playing a key role.

In this way, Taiwan can leverage its existing semiconductor industry strengths to integrate sensor components into machine tool components and combine them with AI technology to drive added value for machine tools.

Tsai said Taiwanese manufacturers have made steady progress in the machine tool controller field in recent years and that they can consider developing an ecosystem covering upstream, midstream, and downstream products in the machine tool industry to create market differentiation.

Looking ahead, Tsai acknowledged that exporting machine tool products to the US is more challenging, and tariffs and exchange rates may pose challenges for some manufacturers.

According to Syntec, 90% of the company's revenues come from China and are not impacted by new US tariffs. The company is looking to deepen its presence in India and ASEAN markets.

The company is developing a collaborative robot network that will move from stand-alone applications to machine networking and visual recognition. It will also promote human-robot collaborative scenarios across upstream and downstream processes in the future, continuing its development into the fields of intelligent robots and quadruped robots.

Syntec is also developing a smart factory management platform that tracks carbon emissions, energy usage analysis, and production efficiency monitoring. This will provide companies with ESG management tools to help build sustainable smart factories.