TECO (1504), a major electric motor manufacturer, said in its results presentation on the stock exchange today (22) that the company will seize three major business opportunities in the future, namely Taiwan’s net-zero carbon emission policy, the US $1.2 trillion infrastructure construction in the next five years, and five major business opportunities in China. The annual 10.6 trillion yuan of new infrastructure and other countries have successively introduced infrastructure policies or stimulus plans.
TECO has deployed four major fields, including renewable energy, energy storage, energy saving and electrification of transportation vehicles. In terms of renewable energy, TECO has accumulated regarding 2GW of offshore wind power onshore substations, with a domestic market share of 35%; in terms of energy storage, TECO In April this year, it joined hands with Fluence Energy, an international energy storage leader, to obtain the 60MW Longtan bid for the largest scale of Taipower’s self-built energy storage, etc.; and plans to build a new electric vehicle motor factory in India.
TECO’s consolidated revenue in the first quarter was 13.897 billion yuan, an annual increase of 20.4%. Due to the increase in raw material costs and freight costs, the gross profit margin was suppressed to 21.9%. However, due to proper cost control, the operating profit rate increased to 8.3%, compared with the same period last year. With the increase, the revenue of the three major business groups – electromechanical systems, smart energy, and smart life – all grew.
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