Reported about 1 year ago
Shen Meixing reported from Taipei on June 11, 2024, at 4:10 pm that Taiwan Electric Power's robust grid project released orders, coupled with rising international copper prices, led to most listed cable companies in the industry showing revenue growth in May and the first five months. Companies such as Huadian (1603), Daya (1609), and Dashan (1615) achieved record-high revenues in May and the first five months. The cable industry benefited from Taiwan Electric Power's project with accumulated orders ranging from over 2 billion to nearly 9 billion USD, with copper prices in April averaging $9,482.43, a 7.58% annual increase, driving consistent revenue growth in May and the first five months. Companies like Huadian have secured orders exceeding 5 billion USD, with YoY revenue growth of 46.46% in May and 21.65% in the first five months, setting new records. These positive trends were attributed to high copper prices, increased shipments by Taiwan Electric Power, and growth in enamel wire sales compared to the same period last year.
Source: YAHOO