2024.11.18
Tex Year (4720) Achieves Outstanding Q3 2024 Performance, Continuing to Lead Green
Tex Year (4720) reported cumulative consolidated revenue of NT$3.036 billion as of October this year, with October 2024 revenue surpassing any single month's revenue in 2023. According to the Group's Q3 2024 financial report, consolidated revenue reached NT$2.699 billion, marking an 11% annual growth rate. Earnings per share (EPS) stood at NT$1.23, setting a historical high for the same period. This growth was primarily driven by stable raw material costs and steady shipment growth across all regions, allowing the Group's gross profit margin to return to normal levels. Looking ahead to Q4, despite economic uncertainties influenced by the U.S. presidential election, exchange rate fluctuations, and geopolitical tensions, overall demand remains higher than last year. The Group's full-year revenue and profit are expected to exceed last year's performance, achieving double-digit growth.Tex Year actively participates in major international industry events, staying ahead of innovation trends. This year, in its role as the International PR Convener of the Taiwan Synthetic Resins and Adhesives Industrial Association (TSRAIA), Tex Year assisted in organizing the "ARAC 2024: The 7th Conference of Asia Regional Adhesive Council," a prestigious event held in Taiwan once every 16 years. During the conference, Tex Year's Chief Technology Officer, John Yeh, served as one of the session moderators, while R&D Manager of the Hot Melt Adhesive Division, Larry Wu, presented research on "Development of Bio-based and Compostable Hot Melt Adhesives." This showcased Tex Year's commitment to technological innovation in green adhesives and aligned with the conference theme, "Toward Green," focusing on the industry's transition to sustainable development. The guests engaged in lively discussions, with a full audience in attendance. Additionally, TSRAIA was officially confirmed as the new rotating chair of ARAC. TSRAIA Chairman Huang Tsung-Yu nominated, and the assembly approved, Tex Year’s Chairman and CEO, Donald Hsiao, to assume the ARAC Chairmanship. This marks a new chapter for TSRAIA on the international stage, further strengthening the development of Taiwan’s related industries.Tex Year’s Chairman and CEO, Donald HsiaoFrom left to right: Myoung-Sik Shim, Chairman of the Korea Adhesive Industry Association (KAIA); Bill Allmond, Chairman of the Adhesive and Sealant Council (ASC, USA); Kosaku Tsuchida, Chairman of the Japan Adhesive Industry Association (JAIA); Lin Liao Chia-Hung, Deputy Director-General of the Economic Development Bureau, Kaohsiung City Government; Donald Hsiao, Chairman of the Asia Regional Adhesive Council (ARAC); Kristel Ons, Secretary General of the European Adhesive and Sealant Industry Association (FEICA); Bruce Fang, Representative of the China Adhesives and Tape Industry Association (CATIA); and Dr. Lee Tsung-Ming, Senior Vice President, General Director of the Material and Chemical Research Laboratories at the Industrial Technology Research Institute (ITRI). The group was joined by Huang Tsung-Yu, Chairman of the Taiwan Synthetic Resins & Adhesives Industry Association (TSRAIA) and Chairman of the conference.Tex Year showcased its BIONIS product line at the event booth, drawing significant attention from attendees. The bio-based hot melt adhesives, derived from organic biomass, feature natural, non-toxic, eco-friendly, pure, and low-odor properties. Additionally, bio-based compostable hot melt adhesives, which boast higher biodegradability, effectively reduce carbon footprints and receive widespread acclaim from visitors. As the first hot melt adhesive manufacturer in Asia to obtain DIN CERTCO certification, Tex Year provides comprehensive BIO & GREEN eco-adhesive and material solutions. These solutions enable manufacturers to reduce carbon emissions by 15% to 75%, creating greater sustainable value in collaboration with global customers.Bill Allmond (middle), Chairman of the American Adhesives and Sealants Council, visited Tex Year boothAs of September 2024, revenue from Tex Year's core adhesive products derived from green materials accounted for 89%, with innovative green materials making up 21% of this green materials revenue, reflecting a year-over-year growth of approximately 31%. Sales of BIONIS bio-based and compostable adhesive products increased by 725% compared to the same period last year. Tex Year remains committed to environmental technology innovation and, in 2021, established the GREEN PLATFORM STRATEGY® (GPS). Through the integration of global R&D and operational resources, Tex Year has consistently launched sustainable products that meet green, bio-based, recyclable, and low-carbon standards. To date, GPS has collaborated on developing over a hundred new green products and technologies, applied across various industries. These include household filtration materials in the green health industry and industrial chemical filters used in the semiconductor sector, where Tex Year's hot melt adhesive for chemical filters holds a leading market position in both Taiwan and China. In the new energy vehicle sector, Tex Year's adhesives for automotive components use eco-friendly, solvent-free polymer adhesives, replacing traditional solvent-based adhesives, with sales growth exceeding 60% annually. Tex Year's GPS will continue to lead advancements in green adhesive technology, seeking more partnerships for sustainable products to fulfill its corporate responsibility in the industry's low-carbon economic transition and co-create a sustainable future with global partners.For more information, please visit the official website and LinkedIn page of Tex Year:Website: https://www.texyear.com/green.php?act=productLinkedIn: https://www.linkedin.com/company/5802267/admin/For further inquiries, please contact:Spokesperson: Roger Kao, Chief Financial OfficerOr media contact: Linda Yao, Acting Spokesperson
