Highlights

Source of this article：https://www.storm.mg/localarticle/4397891
Precision manufacturer HUAI I Precision Co.(5295) held its shareholders' meeting today (March 27) to conduct a comprehensive election, with current general manager Austin Hung being appointed as chairman by the board of directors.

Austin joined HUAI I Precision in 2020, introducing key component resources from major shareholders such as DARWIN PRECISIONS (AUO Group), IBASE Technology and Ligitek Electronics. Under his leadership in less than three years, the company's revenue has grown from a scale of 300 million NT dollars to more than 600 million NT dollars, and the amount of cash available on the books has significantly improved from 10 million NT dollars to more than 200 million NT dollars. As a result, the company was able to invest 200 million Japanese yen to acquire a 45% stake in One Third Residence, a subsidiary of the Japanese listed company Artra Group, and a 35% stake in the sheet metal factory Curry Industrial. This provides flexibility for future manufacturing and marketing.

The new chairman, Austin, stated that in the face of the challenges and difficulties arising from the impact of the COVID-19 pandemic and the drastic changes in the global supply chain, he is grateful for the support of colleagues and major shareholders, especially former chairman Tong Yixing, who assumed the role of chairman in 2020 during a critical time for the company and led it out of the storm and into stable growth. The future management team will continue to focus on improving product value and striving to create the economic value of MIT manufacturing services.

During his two and a half years as general manager of HUAI I Precision, Austin has seen the results of organizational process improvement and product focus strategies, which have been reflected in production capacity and marketing capabilities. These efforts have doubled the company's revenue, turning it from a loss to a profit with revenue of 410 million NT dollars in 2021, a year-on-year increase of 34%, and earnings per share (EPS) of 0.53 NT dollars As of May of this year, HUAI I Precision's cumulative revenue has reached 295 million NT dollars, an increase of 87.12% compared to the same period last year, with a gross profit margin of 15.4%, significantly higher than last year's 8.1%.

In the mid-term strategy for the next three years, HUAI I Precision will accelerate its layout of the Japanese market through the resources of its subsidiary One Third Residence in Japan. In mid-June, the company successfully obtained the non-stop display project for the Gondola box cable car at the largest ski resort in Nagano Prefecture, Japan. The company will upgrade its role from a hardware manufacturer to a software and hardware solution provider, including media push services. It is expected to complete installation and operation by the end of 2022.

In addition to successfully expanding into the Japanese market, HUAI I Precision's advantages as a supply chain value partner have been increasingly recognized in the European and American markets, and it has even attracted proactive investment and alliance opportunities from American channel customers.

Looking to the future, under the leadership of new chairman Austin, HUAI I Precision will continue to deepen its layout in overseas markets such as Europe, America, and Japan, leveraging the advantages of its integrated MIT manufacturing services and striving towards its goal of annual revenue of 1 billion NT dollars.