Genes Tech Group Announces 2023 Annual Results

Total revenue reached approximately NTD1,332.83 million

Basic earnings per share were NTD9.06 cents

HONG KONG, March 21, 2024 /PRNewswire/ -- 

2023 Annual Results Highlights

• The total revenue reached approximately NTD1,332.83 million
• Total comprehensive income for the year attributable to owners of the Company amounted to approximately NTD93.10 million
• Basic earnings per share were NTD9.06 cents

Genes Tech Group Holdings Co. Ltd ("Genes Tech Group" or "The Group", Stock Code: 8257.HK) announces its annual results for the year ended 31 December 2023 ("During the year"). During the year, the Group recorded the total revenue of approximately NTD1,332.83 million. Total comprehensive income for the year attributable to owners of the Company amounted to approximately NTD93.10 million. Basic earnings per share were NTD9.06 cents.

During the year, revenue from the turnkey solutions amounted to approximately NTD708.93 million, accounting for approximately 53.19% of the Group's total revenue. The revenue from trading of parts and used SME amounted to approximately NTD623.90 million, accounting for approximately 46.81% of the Group's total revenue. During the year, revenue from the domestic business in Taiwan accounted for approximately 55.95% of the Group's total revenue.

In 2023, the global economic situation was dynamic and unpredictable. The continuing Russia-Ukraine war, the rise of Israeli-Palestinian conflict, the escalating Sino-U.S. technology war, interest rate hikes in major economies and recovery of China's economy below market expectation resulted in sluggish economy in general, leading to weak demand in semiconductor end markets such as personal computers and smartphones. The global semiconductor market has entered an industry downturn. Nevertheless, benefiting from the strong growth of artificial intelligence (AI), high-performance computing (HPC), automotive semiconductors and industrial semiconductors, together with the signs of improvement in end market consumption activities, the global semiconductor industry has rebounded after hitting the rock bottom in the second half of the year. According to the research by Gartner and International Data Corporation (IDC), global semiconductor sales amounted to USD533 billion and USD526.5 billion in 2023 respectively, representing a year-on-year decrease of 11.1% and 12% respectively.  According to Market Intelligence & Consulting Institute (MIC) of Taiwan, the output value of Taiwan's semiconductor industry is estimated to be NTD3.77 trillion in 2023. Looking ahead to 2024, the output value of Taiwan's semiconductor industry is anticipated to reach NTD4.29 trillion, marking a growth of 13.7%. The Group will closely monitor the changes in the market environment, adopt proactive strategies, and respond to market changes in a prudent and prompt manner to further consolidate its market position.

Mr. Yang Ming-Hsiang, Chairman and Chief Executive Officer concluded: "In general, global semiconductor industry players faced a complex operating environment with inventory adjustments and sluggish end market demand, in which various countries strived to establish their own supply chains in 2023. The scale of the global semiconductor industry declined in the first half of the year, while artificial intelligence (AI), high-performance computing (HPC), automotive semiconductors and industrial semiconductors showed robust growth, together with signs of improvement in end market consumption activities in the third and fourth quarters, driving the global semiconductor industry to rebound after hitting the rock bottom in the second half of the year. According to World Semiconductor Trade Statistics (WSTS), the global semiconductor market is expected to reach USD588.3 billion in 2024, representing a year-on-year growth of 13.1%. In response to changes in the market environment, the Group will actively seize the development opportunities, and is committed to taking advantage of the research and development of investment products and technological upgrades to enhance the core competitiveness of the Group and create long-term value for shareholders."

.About Genes Tech Group Holdings Co. Ltd (Stock Code: 8257.HK)

Genes Tech Group Holdings Co. Ltd is turnkey solution provider and exporter of parts and used SME in Taiwan. Since the commencement of its business in 2009, the Group mainly engaged in providing turnkey solution of parts and used SME to its customers and modifying and/or upgrading the semiconductor equipment of its production systems according to customers needs. In addition, the Group is also engaged in the trading of parts and used SME. The parts and used SME supplied by the Group included furnaces, clean tracks and other related items, which were used at the front-end of the semiconductor manufacturing process, wafer fabrication such as deposition, photoresist coating and development, and these were extensively applied in mobile phones, game consoles, DVD players, automotive sensors and other digital electronic products.