Walsin Lihwa, a stainless steel wire rod and cable manufacturer in Taiwan, expects its second-quarter earnings to surpass first-quarter results substantially. The manufacturer will recognize over NT$3.5 billion in profits from selling shares of Winbond and Walton Advanced Engineering in the second quarter, contributing more than NT$0.8 to earnings per share.
In the first quarter, Walsin Lihwa’s net profit was NT$3.58 billion, soaring by 428% compared to the same period a year ago, yielding NT$0.81 per share.
The company’s May revenue rose by 12.4% from April to a one-year high of NT$17.46 billion, a year-on-year increase of 11.13%. This growth was driven by seven consecutive months of stainless steel price hikes, including a NT$3,000 increase for 304 wire rods in June.
Separately, rising international copper and nickel prices, combined with heavy foreign investment, drove the company’s stock price to hit the NT$37.7 daily limit last Friday (June 12).