TGE’s Revenue in Q1 May Exceed That in Q4 of 2012 and Its Orders have Backed up to April

Because the fastener industry has exhibited a growth, TGE and its subsidiary in Thailand have received a full load of orders, which have backed up to April. Its revenue in February will be close to that in January and its revenue in Q1 may exceed that in Q4 of 2012. The company expressed that because the price of coiled wire rods has picked up, its unused stock of coiled wire rods will make its Q1 revenue from red to black and its prices may go up in Q2. Therefore, its outlook in H1 of 2013 is good. The combined revenue of the company and its subsidiary in Thailand in January reached NT$ 994 million, a big jump of 58.52% as compared to December. The revenue of either TGE or its subsidiary in Thailand in January exhibited a growth.

Analyst expressed that the revenue of TGE in January should reach NT$ 400 million, a big jump from NT$ 298 million in December. The revenue of its subsidiary in Thailand in January reached NT$ 800 million, an increase from NT$ 700 million in December. Because, in January, a large chunk of its subsidiary’s revenue was generated from the sale of coiled wire rods to the mother company, TGE, the actual combined revenue should be about NT$ 100 million due to the write-down from such transaction. The company expresses that demand started to pick up before the end of 2012 and orders started to increase at a fast pace. As of now, orders have backed up to April and our factories in Taiwan and China have been operating at full capacity. While, because our factory in Thailand has not been affected by the traditional Chinese New Year Holidays, its production and shipment are not affected by the holidays at all; its production and shipment will remain this way in February. Because orders have exceeded the company’s production capacity, the company has stopped taking any orders and the company will resume its order taking after China Steel announces its new steel prices in April or May. Analyst indicated that the company’s combined revenue in February will remain close to that in January and its combined revenue in Q1 is expected to exceed that in Q4. Because of its unused stock of coiled wire rods and price hike, its combined revenue in Q1 may be switched from red to black.

Moreover, because the price of iron ores in this country has gone up and demand for fasteners exhibits a growth, the price of wire rods will go up; because the price of wire rods exhibited a big slide in 2012, the price may go up quite steeply in H1 of 2013 and in Q2, going up from NT$ 21,000 per ton to NT$ 22,000 or even 23,000 per metric ton. It is possible that the company’s prices may go up in Q2 of 2013. In conclusion, the company’s outlook in H1 of 2013 is good.

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