Focus Stock: Taiming's Optimized Sales Structure Pays Off, Share Price Hits Record High of NT$212

Flexible Copper Clad Laminate (FCCL) manufacturer Taiming (8039-TW) experienced a sharp rise in its share price today (21st), closing at the daily limit-up price of NT$212, marking a new all-time high. According to the company's latest self-reported financial data, Taiming achieved revenue of NT$914 million in May 2026, representing a 1% year-on-year increase. More notably, its after-tax net profit for the month reached NT$69.45 million, a staggering 8.01-fold year-on-year growth, translating to earnings per share (EPS) of NT$0.26. This strong performance is primarily attributed to the successful optimization of its product sales mix.

Taiming's FCCL products serve applications in smartphones and consumer electronics, accounting for approximately 90% of its total revenue. However, the company faces supply chain uncertainties this year, including shortages of CCL, passive components, and memory chips. As a result, Taiming has adopted a conservative outlook for its full-year operations and is actively working to improve its product sales structure. It suggests that its total revenue for 2026 may remain at a level similar to the previous year.

For the full year 2025, Taiming reported total revenue of NT$10.609 billion, the highest in seven years, reflecting a 6.75% year-on-year increase. However, its gross profit margin was 19.24%, down 2.27 percentage points from the previous year. Net profit after tax amounted to NT$535 million, a 9.72% decrease year-on-year, with EPS at NT$2.07.

Taiming Technology, which has completed its investment and commenced operations at its Thailand plant, is currently developing new products beyond its core FCCL offerings. These include fine-line circuit materials, PTFE-filled high-speed copper-clad laminates, and laser bonding materials for temporary adhesion applications. The development and sales progress of these new products are proceeding as expected. In particular, the sales performance of its high-end fine-line flexible circuit materials has been outstanding. Furthermore, its semiconductor-related materials have advanced into a new stage of engineering validation.

The Thailand plant, which was fully completed and equipped last year, contributed less than 10% to Taiming's total revenue in 2025. The company stated that the production yield and operational efficiency at the Thailand facility have gradually reached the expected levels, and it is now poised to actively pursue market opportunities at the right time.

For the first half of 2026 (January to June), Taiming's cumulative revenue reached NT$5.112 billion, a 2.45% year-on-year increase. Its second-quarter revenue (April to June) was NT$2.696 billion, up 11.62% quarter-on-quarter but down 2.4% year-on-year.