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Ta Chen International's Stock Price to Go for New High
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2014-08-05
As nickel price stops dropping and bounces back, the August stainless steel price is likely to go up. Given this opportunity, Ta Chen International (TCI) hit a record high H1 EPS value since the past 6 years, and received over 16.7 thousand orders calculated on July 26, closing at NTD 19.65. Coupled with the high season of the traditional industry and the likely rising stainless steel price, TCI's profit is expected to hit a new high. TCI's H1 revenue is NTD 24.736 billion, up 30.5%; net profit after tax is NTD 862 million, up 138.5%; EPS is NTD 1.11, up considerably from last year's NTD 0.04 and a new record since the past 6 years.
As the overall market remains stable, TCI expects is Q3 profit will see substantial growth from last year. TCI has plants in Rende, Caotun, Baoding, Changshu, Boye, Shijiazhuang, and Shanxi. Stainless steel products account for 78.72% of total production; screws and nuts account for 21.28%.
