Tong Yang Industry has embarked on a substantial expansion by acquiring 49,934.41 square meters of industrial land in the Tainan Technology Industrial Park, committing approximately NT$997 million to the deal. The company aims to bolster its after-sales auto parts (AM) production capabilities amidst flourishing market demand.
In a robust financial update, Tong Yang revealed that its first-quarter consolidated revenue soared to NT$6.174 billion, a 10% year-on-year increase and the highest for this period in six years. The firm also reported a notable jump in after-tax net profit, which reached NT$1.172 billion, marking an impressive growth of 239% compared to the previous year.
April continued the trend with a 20% year-on-year increase in revenue, reaching NT$2.106 billion. The AM business alone generated NT$1.514 billion in April, up 14% year-over-year, highlighting its significant contribution to the company’s growth. The OEM business was not far behind, showcasing a staggering 40% growth in April.
President Wu Yung-Hsiang emphasized the necessity to expedite operational enhancements and factory constructions to sustain and capitalize on the increasing market demand. With these strategic land purchases and factory expansions, Tong Yang is not only increasing its production capacity but also reinforcing its competitive position in the industry.
