Reported 7 months ago
Egg prices recently hit a two-year low, with domestic prices dropping from NT$42 per catty at the beginning of the year to NT$30.5. Despite this, Dawu Mountain Farm Technology Co., Ltd. (6952) went public today but experienced a 13% plunge to NT$49.5 from its underwriting price of NT$57.13, resulting in lottery winners facing losses exceeding NT$7,000. Dawu Mountain, known for its egg products, aims not only to be an expert in food safety but also in land stewardship. The company, founded in 2007 and led by Chairman Lin Feng-Chun, specializes in fresh eggs, liquid eggs, and egg products, generating a 2022 pre-tax net income of NT$190 million and an EPS of NT$2.91. However, their profit dropped to NT$41.2 million in the first three quarters of last year, causing shares to fall 7% to NT$52.9 in the morning. Dawu Mountain Farm is situated at the foot of Dawu Mountain in Xingpi Township, Pingtung County, raising chickens in a secluded environment with a focus on technological and humane methods of farming to produce high-quality eggs.
Source: YAHOO