Tatung Electric Wire & Cable Reports Q2 Revenue of NT$1.436 Billion, Down 9% YoY; Convertible Bond to Be Listed on July 16

Tatung Electric Wire & Cable (1623-TW), a cable manufacturer, announced today (9) its June revenue reached NT$603 million, representing a 69.32% increase month-on-month and a 13.63% increase year-on-year. However, due to customer delivery schedule adjustments, second-quarter revenue totaled NT$1.436 billion, down approximately 9.23% year-on-year. Despite the quarterly decline, the company reported that its current backlog remains above NT$1 billion, maintaining a cautiously optimistic outlook for the second half. It expects full-year revenue to achieve double-digit percentage growth.

Tatung Electric is advancing its U.S. market strategy, focusing on business development, technical services, and warehousing logistics to enhance service efficiency and delivery quality for North American customers. The company aims to officially enter the U.S. market after obtaining necessary certifications in the third quarter, with export operations targeted to commence before year-end. It will also evaluate the potential for expanding local manufacturing based on market trends and customer demand.

Additionally, the company completed pricing for its first domestic convertible bond (CB) on July 8, with listing scheduled for July 16. The proceeds will be fully allocated to optimizing the company's financial structure. The funds will be used to repay existing debt, thereby reducing overall financial costs and improving financial flexibility and capital efficiency.