SINBON ELECTRONICS CO., LTD. Leading electronic components manufacturer and customized total solution provider, SINBON Electronics Co., Ltd. (TSEC#:3023) held its annual investor conference on 6th December 2023 in Center of Industry Collaboration and Innovation Incubation, NCCU, under the title of "Back to Infinite Universe". It was hosted by SINBON Chairman, Joseph Wang, who briefed the public on the company's operating results and showed SINBON's existing technical capabilities to develop product strategies that keep pace with the trend and complement with the basis of sustainability.
This year, although the overall economy is facing the challenges of continued turmoil in the China-US trade war, slowing demand after the Covid-19 epidemic, and the impact of client inventory adjustments, SINBON still relies on its solid cultivation in the five major areas of "MAGIC" over the years and successfully maintains a steady growth. Moreover, only the fields of Medical, Communications and Electronic peripheral have been affected, while the Automotive and Aerospace, Green Energy, and Industrial Application have continued to grow despite the adversity trend. Compared to the result in 2022, the growth rates of the accumulated sales revenue for the last eleven months in each industry: medical and personal care (-3.67%); automotive and aviation (+22.29%); green energy and ecology (+24.21%); industrial application (+10.69%); communication and electronic peripheral components (-13.12%). The non-audited accumulated sales revenue for the last eleven months is NT$30.769 billion which its growth rate over last year is 8.95%. On the other hand, the net profit after tax in the first three quarters is NT$2.684 billion, which is an increase of 17.55% over the one in the same period last year at NT$2.283 billion. The EPS for the last three quarters is NT$11.21, both profit after tax and EPS are record high in company history. This shows SINBON's outstanding business performance in adversity.
SINBON has been constantly developing in progress with the times. While facing the rapidly changing global situation, in addition to strengthening the resilience of the supply chain and expanding local service bases, the organization also continues to optimize efficiency and production capacity to create market competitive advantages. At the same time, SINBON continues to work in sustainable related industries, including the field of electric vehicles. It has developed charging products with the North American Charging Standard (NACS) specification which opened by Tesla and it has passed the UL certification and launched in the market successively. Moreover, SINBON continues to work with SBMC (Swappable Batteries Motorcycle Consortium) (Note 1) to promote the development of the electric two-wheel vehicle market. On the other hand, SINBON is currently assisting in formulating samples of connector specifications, which have been successfully presented in this year's EICMA in Milan, Italy. The alliance plans to expand regional coverage where the specifications are used around the world to accelerate the popularity of electric vehicles. In the Medical field, SINBON provides metal-free carbon fiber cable harnesses to improve the accuracy of CT imaging diagnosis and makes longer product life through special designs. Along with the intelligent technology era, whether it involves in smart manufacturing and logistics management, or in smart life unmanned stores and other new technical developments, SINBON's smart application products are available in these mentioned fields. In the semiconductor industry, which SINBON has been deeply involved for a long time, SINBON continues to invest and cooperate with partners to expand the scope of cooperation and provides integrated services, which ranged from original cables to cabinet assembly.
Since SINBON started involving the green industry in 2002, SINBON has continuously expanded its market scope in green industry. According to the statistics, by the third quarter of this year, the sustainable industry accounted for more than 48% of the Group's sales revenue. SINBON takes action to fulfill its commitments by actively practicing carbon reduction by 40% in 2030 (Note 2); the RoHS-compliant procurement ratio (Note 3) in 2022 is 98% which increased of 4% over 2021; implementation of energy management system ISO 50001 certification in the Miaoli plants and it is expected to be fully implemented by 2025 in 100%-owned production bases; the disclosed of TCFD climate-related financial risks and opportunities for the first time in 2022; SINBON received a numbers of recognitions in the global sustainability index evaluation in 2023 which including being selected as the candidate in the Bloomberg Gender Equality Index for the first time. There are only 16 companies in Taiwan selected in the index. Furthermore, SINBON was granted for Morgan Stanley Sustainability Index A grade, TSAA Taiwan Sustainability Action Award silver medal, and etc. SINBON continuously expands its sustainable influence and create more value. In the future, no matter how the global situation changes, the strategy in SINBON will be based on sustainability. As for future business opportunities, it will also be the key to the company's eternal competitiveness.
This year, although the overall economy is facing the challenges of continued turmoil in the China-US trade war, slowing demand after the Covid-19 epidemic, and the impact of client inventory adjustments, SINBON still relies on its solid cultivation in the five major areas of "MAGIC" over the years and successfully maintains a steady growth. Moreover, only the fields of Medical, Communications and Electronic peripheral have been affected, while the Automotive and Aerospace, Green Energy, and Industrial Application have continued to grow despite the adversity trend. Compared to the result in 2022, the growth rates of the accumulated sales revenue for the last eleven months in each industry: medical and personal care (-3.67%); automotive and aviation (+22.29%); green energy and ecology (+24.21%); industrial application (+10.69%); communication and electronic peripheral components (-13.12%). The non-audited accumulated sales revenue for the last eleven months is NT$30.769 billion which its growth rate over last year is 8.95%. On the other hand, the net profit after tax in the first three quarters is NT$2.684 billion, which is an increase of 17.55% over the one in the same period last year at NT$2.283 billion. The EPS for the last three quarters is NT$11.21, both profit after tax and EPS are record high in company history. This shows SINBON's outstanding business performance in adversity.
SINBON has been constantly developing in progress with the times. While facing the rapidly changing global situation, in addition to strengthening the resilience of the supply chain and expanding local service bases, the organization also continues to optimize efficiency and production capacity to create market competitive advantages. At the same time, SINBON continues to work in sustainable related industries, including the field of electric vehicles. It has developed charging products with the North American Charging Standard (NACS) specification which opened by Tesla and it has passed the UL certification and launched in the market successively. Moreover, SINBON continues to work with SBMC (Swappable Batteries Motorcycle Consortium) (Note 1) to promote the development of the electric two-wheel vehicle market. On the other hand, SINBON is currently assisting in formulating samples of connector specifications, which have been successfully presented in this year's EICMA in Milan, Italy. The alliance plans to expand regional coverage where the specifications are used around the world to accelerate the popularity of electric vehicles. In the Medical field, SINBON provides metal-free carbon fiber cable harnesses to improve the accuracy of CT imaging diagnosis and makes longer product life through special designs. Along with the intelligent technology era, whether it involves in smart manufacturing and logistics management, or in smart life unmanned stores and other new technical developments, SINBON's smart application products are available in these mentioned fields. In the semiconductor industry, which SINBON has been deeply involved for a long time, SINBON continues to invest and cooperate with partners to expand the scope of cooperation and provides integrated services, which ranged from original cables to cabinet assembly.
Since SINBON started involving the green industry in 2002, SINBON has continuously expanded its market scope in green industry. According to the statistics, by the third quarter of this year, the sustainable industry accounted for more than 48% of the Group's sales revenue. SINBON takes action to fulfill its commitments by actively practicing carbon reduction by 40% in 2030 (Note 2); the RoHS-compliant procurement ratio (Note 3) in 2022 is 98% which increased of 4% over 2021; implementation of energy management system ISO 50001 certification in the Miaoli plants and it is expected to be fully implemented by 2025 in 100%-owned production bases; the disclosed of TCFD climate-related financial risks and opportunities for the first time in 2022; SINBON received a numbers of recognitions in the global sustainability index evaluation in 2023 which including being selected as the candidate in the Bloomberg Gender Equality Index for the first time. There are only 16 companies in Taiwan selected in the index. Furthermore, SINBON was granted for Morgan Stanley Sustainability Index A grade, TSAA Taiwan Sustainability Action Award silver medal, and etc. SINBON continuously expands its sustainable influence and create more value. In the future, no matter how the global situation changes, the strategy in SINBON will be based on sustainability. As for future business opportunities, it will also be the key to the company's eternal competitiveness.
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SINBON Electronics Co. Ltd. published this content on 07 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 December 2023 09:44:17 UTC.
