AirTAC’s revenue in May reached a new high in the same period- Business Times

AirTAC’s revenue in May reached a new high in the same period- Business Times

Pneumatic components manufacturer AirTAC-KY (1590) received more orders than it shipped in May, and its consolidated revenue in May and the previous five months, regardless of whether it was denominated in RMB or NT dollars, set a new high for the same period. AirTAC expects that the pneumatic components market will grow by single digits this year, and AirTAC’s operating target for this year will increase by another 10% compared to the overall pneumatic components market.

AirTAC’s order-to-bill ratio in May was 1:1.1. On the 2nd, it announced that its consolidated revenue in May was 632 million yuan, an annual increase of 5.03%; equivalent to NT$2.772 billion, an annual increase of 4.6%. The consolidated revenue for the first five months was 2.793 billion yuan, an annual increase of 8.26%, and 12.366 billion yuan in NT dollars, an annual increase of 8.24%. Due to the low comparison base period in the second quarter of last year, the market estimates that AirTAC’s shipments and revenue in the second quarter are expected to be better than those in the first quarter and the same period last year.

AirTAC’s customers have a wide range of business types, covering industries such as batteries, automobiles, lighting, packaging machinery, and general equipment, and their operations are less affected by the prosperity of individual industries. The revenue growth in May was mainly due to the relatively high growth rate of shipments in industries such as energy, lighting equipment, and packaging machinery.

AirTAC emphasized that the amount of orders received in May continued to be higher than that of shipments, and the expectation for the demand trend of pneumatic components remained unchanged. This year, the overall market demand will gradually recover rather than rapidly recover.

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The growth momentum of AirTAC’s revenue this year is mainly due to the fact that the market share of pneumatic components in mainland China has climbed to 26%, and the performance of new linear slide rail products has continued to grow. Thousands of customers visited the factory, and it is expected that linear slide rail shipments will grow significantly in the second half of the year.

It is estimated by the legal person that AirTAC has the opportunity to grow by double digits in revenue this year and challenge new highs. Foreign investors sold for five consecutive trading days from the end of May to the beginning of June. The stock price fell below 1,000 yuan, and the bargain hunting was strong. On the 2nd, it rose by 19 yuan, and finally stood at 1,000 yuan.

The post AirTAC’s revenue in May hit a new high in the same period appeared first on Business Times.

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