Yieh United Steel Corporation (Yusco), a leading stainless steel producer in Taiwan, reported a May revenue of about NT$3.69 billion, a 21.6% monthly increase and a seven-month high, despite a 37.2% year-on-year decline.
During its June 25 shareholder meeting, chaired by Vice Chairman Kuo Chung-Chi, the firm approved a private placement of up to 500 million common shares to improve its financial structure and operational capital. This follows a difficult prior year where slow demand and overcapacity resulted in a NT$38.27 billion revenue and a NT$6.22 billion net loss.
To address rising electricity costs and upcoming carbon fees, Yusco plans to introduce AI-driven manufacturing management to accelerate digital transformation. The company is also expanding precision strip production lines and developing low-carbon, high-recycled-content products.