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San Shing Fastech's Q1 Shipments Expected to Be Higher Over Last Year
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2024-05-06
Last year, Taiwan's fastener industry met with headwinds, but automotive fastener maker San Shing Fastech benefited from the relatively stable automobile market and its profits did not decline significantly. Looking at 2024, market conditions in Europe and the U.S. have improved, so the company thinks the worst has passed. Its Q1 shipments are expected to be higher than the same period last year, and gross profit margins are expected to remain stable. Its January revenue at NTD 690 million translates to an increase of 28.02% month-on-month and 43.15% year-on-year, reaching a new high in the past year and a half. San Shing Fastech's consolidated revenue in 2023 was NTD 6.644 billion and its net profit after tax was NTD 997 million.
San Shing Fastech
Taiwan fastener industry
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automotive fastener
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