San Shing Reports Fair Q2 Operation Owing to Shipments Influenced by Late European Orders

As San Shing’s shipments were kind of influenced by late European orders, its combined revenue in April and May declined and the operating result in Q2 did not show any sign of recovery. Market analysts forecast that San Shing’s gross profit in Q2 may be slightly lower than that in Q1 owing to weak euro, however, the non-operating loss is expected to turn well from Q1. The total orders placed to San Shing in Q3 will be quite equivalent to those in Q2, but everything cannot be so sure before the actual shipments result is announced.

San Shing is the largest automotive nut manufacturer in the world and its products are mainly shipped to Tier 1 fastener suppliers of car manufacturers. Its nuts sales currently represent 50-60% of it total revenue, screws sales represent 10-20% of its total revenue, and wires/molds represent the rest of the proportion. Although San Shing announced extra capacity this year, its profit was still reduced owing to depreciation of euro.

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