Reported 8 months ago
Tang Rong held a shareholders meeting on June 25, 2024, revealing an expanding loss from the previous year exceeding 2.9 billion NT dollars, almost equal to the company's capital. The company expressed a cautious outlook for the steel market in the second half of the year due to incomplete recovery in stainless steel demand. Despite some minimal profit in the first quarter of last year, factors like inflation and regional disputes led to a significant increase in losses, with a loss of over 5.1 billion NT dollars in the first half of the year. With total losses reaching nearly 29.84 billion NT dollars, close to the company's capital, the operational situation remains severe. Even with inflation easing and gradual global economic recovery, uncertainties in the stainless steel market persist, making the outlook for the steel market in the second half of the year unfavorable.
Source: YAHOO