Ta Ya Electric Wire & Cable Chairman Shen Shanghong has outlined an innovative ‘Double E’ strategy for the company, focusing on ‘Energy’ and ‘Emerging’ sectors. In a recent press conference, Shen emphasized this dual approach as a means to balance the high-risk nature of new ventures with the stability of the energy industry. The ambitious plan includes achieving a cumulative construction volume of 500MW in solar photovoltaics and 180MW in energy storage by 2026, with anticipated annual profits reaching up to 1 billion yuan.
Marking its 68th anniversary with an ‘Energy: Point, Line, and Plane’ energy art exhibition, Ta Ya Electric Wire & Cable showcased its unique integration of energy and art, reflecting the company’s evolving role in the energy chain. Primarily engaged in the cable and enameled wire business, Ta Ya has been steadily expanding into the energy sector, particularly solar photovoltaics, where it has already reached a development volume of 212MW. Upcoming large-scale projects like Zhiguang Phase II and III, and Xinzhong Phase II, are expected to bolster this growth.
In the realm of energy storage, Ta Ya Electric Wire & Cable’s current accumulation stands at 36.5MW. The company is actively participating in integrated optical and storage bidding projects and is set to contribute significantly to Taipower’s E-dReg auxiliary services with a 100MW project in Longjing, Taichung. This expansion is projected to reach 180MW by the first half of 2025.
Shen highlighted that Ta Ya’s dual focus on Energy and Emerging sectors is a strategic move to ensure stable operation and growth. Despite economic fluctuations, energy provides a steady income stream, complementing the higher risks associated with new ventures. This approach is evident in Ta Ya’s continued dividend distribution and investment in diverse sectors, including information security and micro-orbit satellites. The company’s investment in Tensor Technology, where it holds approximately 15% of the shares, underscores this diversification.
Looking ahead, Shen remains optimistic about Ta Ya’s operations in the coming year. With ongoing development in the energy sector and a surplus supply of wires and cables, the company is well-positioned for growth. Moreover, the expected economic stabilization, with a slowdown in inflation and interest rates, is likely to benefit Ta Ya’s enameled wire business. Although revenue fluctuations are tied to copper prices, Shen anticipates an improved profit performance in the next year, signaling a promising outlook for Ta Ya under its ‘Double E’ strategy.
