Taiwanese electronics manufacturer Tong Yang Industry posted a robust 40% year-on-year increase in pre-tax net profit for the first nine months of 2024, reaching NT$3.934 billion (US$125 million). This growth comes despite ongoing global shipping constraints and high freight costs.
The company’s September pre-tax net profit stood at NT$381 million (US$12.1 million). Excluding foreign exchange impacts, this represents a 7.5% increase compared to the same period last year.
Tong Yang’s performance has remained strong even during traditionally slower periods, with cumulative pre-tax earnings per share hitting a record NT$6.51 (US$0.21). The firm attributes its resilience to increased production capacity and improved equipment efficiency in response to customer demand.
Looking ahead, Tong Yang is actively pursuing expansion plans. The company has announced initiatives for new manufacturing facilities in the Science and Technology Zone, Qigu Science and Technology Industrial Zone, and Xinshi Industrial Park. These investments aim to support Tong Yang’s anticipated growth over the next three to five years.
While the company faces ongoing challenges from container shortages and logistics issues, its proactive approach to expansion suggests confidence in future market opportunities.
