10/30/2024
Silitech 3Q2024 Results Press Release
(2024/10/30) Silitech Technology Corp. (TWSE: 3311) Board of Directors approved the third quarter of 2024 financial statements today. The worldwide consolidated revenue was NT$650 million and net loss was NT$37 million, representing loss per share of NT$0.55 based on weighted average outstanding ordinary shares.
Silitech's Mainland China Subsidiary, Xurong Electronic (Shenzhen) Co., Ltd. (hereinafter referred to as "Xurong Factory"), has been unable to achieve the expected operating performance due to changes in the overall market environment and insufficient economies of scale. To ensure the effective use of resources, the factory's operations are planned to be downsized to save on operating costs. In light of these factors, the related costs and expenses incurred by Xurong Factory due to the reduction in operational scale were estimated in the third-quarter financial statements, totaling NT$52 million.
Looking ahead, Silitech will reallocate resources through this adjustment to enhance profitability. The Company will continue to expand its business capacity and engage in early-stage R&D and design of automotive and wearable products. By integrating new materials and processes with its core technology, Silitech aims to further enhance product competitiveness.
Spokesperson: Wei-Lin Chen, CFO TEL: 886-2-2623-2666
Silitech's Mainland China Subsidiary, Xurong Electronic (Shenzhen) Co., Ltd. (hereinafter referred to as "Xurong Factory"), has been unable to achieve the expected operating performance due to changes in the overall market environment and insufficient economies of scale. To ensure the effective use of resources, the factory's operations are planned to be downsized to save on operating costs. In light of these factors, the related costs and expenses incurred by Xurong Factory due to the reduction in operational scale were estimated in the third-quarter financial statements, totaling NT$52 million.
Looking ahead, Silitech will reallocate resources through this adjustment to enhance profitability. The Company will continue to expand its business capacity and engage in early-stage R&D and design of automotive and wearable products. By integrating new materials and processes with its core technology, Silitech aims to further enhance product competitiveness.
Silitech Technology 3Q'24 Worldwide Consolidated Financial Results
| (NT$ Thousand) | 3Q 2024 |
| Revenue | 650,025 |
| Gross profit | 58,548 |
| Gross margin | 9% |
| Operating loss | (20,740) |
| Operating margin | (3%) |
| Loss before Tax | (29,283) |
| Net loss | (37,480) |
| EPS(NT$ Dollar) | (0.55) |
Spokesperson: Wei-Lin Chen, CFO TEL: 886-2-2623-2666
