Shihlin Electric & Engineering reported third-quarter net income of NT$733 million ($23.7 million), as Taiwan Power’s grid modernization program boosted demand for transformers and distribution equipment. The Taipei-based manufacturer posted earnings per share of NT$1.41 for the July-September period, up from NT$1.35 a year earlier.
Revenue reached NT$10.93 billion ($353 million) in the quarter, with nine-month sales climbing to NT$27.49 billion ($888 million). Operating profit for the first three quarters totaled NT$3.62 billion ($117 million), while net income hit NT$2.85 billion ($92 million), pushing nine-month EPS to NT$5.46 versus NT$4.97 in 2024.
The company’s heavy electrical division, which supplies power equipment to state utility Taiwan Power, accounted for most of the growth. Taiwan is upgrading aging grid infrastructure as part of a broader energy transition that includes adding renewable capacity and replacing outdated equipment.
Shihlin Electric, 20% owned by Japan’s Mitsubishi Electric, also makes low-voltage switches, automotive electrical components and automation equipment. The board approved the results on November 7.
Taiwan Power has accelerated grid investments as the island faces rising electricity demand from semiconductor manufacturing and data centers while phasing out nuclear power. Whether Shihlin can sustain momentum depends on the pace of government infrastructure spending and competition from domestic rivals including Tatung and Teco.
