Reported about 1 year ago
Benefiting from the handover of luxury residences in Taipei's 'Pure Elegance' and Taichung's 'Qinmei Forest', Qinmei (1532) reported a combined revenue of 2.468 billion NT dollars in May, an 11.9% monthly increase and a 152.88% yearly increase, setting a new high for the same period. The construction business segment accounted for over 60% of the revenue; the combined revenue for the first five months of the year reached 9.534 billion NT dollars, a 102.09% yearly increase. The high-rise elegance residences in Taichung's 'Qinmei Forest' have achieved nearly 80% sales rate, with the highest disclosed transaction price reaching 682,000 NT dollars. The upcoming completion of the 'Qinmei Forest' and the handover season in the second quarter are expected to further boost Qinmei's revenue, with the construction business segment projected to contribute around 7 billion NT dollars in revenue for the first half of the year. Looking ahead, the release of reserved units in the high levels of 'Qinmei Forest' in the second half of the year is expected to set new price records and drive total sales; furthermore, the launch of the second phase of 'Qinmei Forest' in the second half of the year, focusing on smaller-sized units, is highly anticipated in the market. Reflecting on the first quarter, with support from the construction business segment, Qinmei achieved a net profit of 593 million NT dollars, marking a 22-fold yearly increase, reversing from losses in the same period last year, with an EPS of 1.34 NT dollars, setting a new high for the same period. Despite a nearly 10% yearly decrease in metal forming business revenue for the first five months of the year, figures have shown signs of stabilization since March and April, with an expected stable performance in the second quarter; the opening of the Taichung Qinmei Intercontinental Hotel—being developed with an investment of billions—is set for the third quarter, anticipated to contribute to revenue and profits. This report is a summary from Commercial Times.
Source: YAHOO