Coremax Corp., a Taiwanese display technology manufacturer, ended its four-year streak of losses in 2023, marking a turnaround in its business performance. The company reported December earnings per share of NT$0.2 ($0.006), with net income reaching NT$21.19 million ($670,000).
December revenue climbed to NT$157 million ($4.97 million), showing a 107.2% increase from the previous year, despite a month-over-month decline. The company’s fourth-quarter revenue hit NT$714 million ($22.6 million), up 191.55% year-over-year and 35.91% from the previous quarter.
For the full year 2023, Coremax generated revenue of NT$1.77 billion ($56 million), an 87.53% jump from 2022, setting a new record for both quarterly and annual sales. The company’s November earnings per share stood at NT$0.46 ($0.015), contributing to its first profitable year since 2019.
The return to profitability signals a potential stabilization of Coremax’s business model after years of financial struggles. However, the sustainability of this growth trajectory remains to be tested as the display industry continues to face market volatility and intense competition.
