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Tongtai Reports Revenue Drop in October
November 16, 2022 | Tongtai Machine & Tool Co., Ltd.Estimated reading time: Less than a minute
Tongtai Machine & Tool Co., Ltd. reports its October consolidated revenue at NT$0.684 billion, down 22% month-over-month and down 3% year-over-year. Its year-to-October revenue reached NT$6.821 billion which was down 14% from year-on-year. Revenue decline was negatively affected by weaker market demand and inventory adjustment from supply chain.
As a whole, the revenue from machine tools accounts for 94%, printed circuit board (PCB) accounts for 6%, and the order in hand are about NT$4.4 billion. In terms of application, the automobile and motorcycle industry accounts for 40%, the processing industry accounts for 9%, the aerospace industry accounts for 8% and the electronics industry accounts for 6%. In terms of market area performance, Taiwan and China are the main market, accounting for 59%, other Asia regions account for 16%, Europe and America account for 25%.
The Honor Seiki Company Ltd. won the 31th National Award of Outstanding SMEs, representing the highest honor on business management, innovation strategies, financial stability, and ESG sustainable development. Honor?Honor, to be your partner?and fundamentally Honesty, Faith and Sustainable development. In the future, we dedicated to becoming the top strategic partner of intelligent CNC vertical lathe industry.
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