Reported 8 months ago
Fusheng (6670) held a shareholders' meeting on June 18, 2024, where they approved a cash dividend of 12.50 NT dollars and the acquisition of Linefa Precision Company. In addition to their existing golf club head OEM and sporting goods businesses, Fusheng will now venture into the aerospace and automotive spare parts industry, becoming the third pillar of their operations. The Chairman of Fusheng, Li Liangzhen, highlighted that this acquisition is to enhance operational efficiency and expand into a new sector. The first-quarter gross margin increase was attributed to factors such as the depreciation of the New Taiwan dollar against the US dollar, product mix, increased shipments from the Vietnamese factory, and improved profits from subsidiaries. The shareholders' meeting also approved the share issuance plan for Fusheng's subsidiary Minsheng Applications in preparation for an IPO. The final decision regarding the number of shares and pricing will be made in future board meetings.
Source: YAHOO