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San Shing Expects Flat Operating Result from Q4 2022 to Q1 2023 Despite Weak Automotive Fastener Demand
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2022-11-24
San Shing Fastech said that the automotive fastener demand is not obviously recovering in the U.S. and Europe, and it expects that the market demand will continue adjustment at least until the first half of 2023. Its performance from Q4 this year to Q1 2023 is expected to level with Q3 2022. Despite an ease on lack of automotive chips, the demand has not obviously come back due to inflation, interest rate hike, the Russia-Ukraine war and European energy crisis. New car sales in the U.S. and Europe this year are still declining.
Accroding to previous experiences, the sluggish market will take at least until the first half of 2023 to improve. Therefore, San Shing Fastech's business operation will remain relatively flat until Q1 2023, and for Q2 it will require monitoring how fast the market will recover. Its fastener products including screws, nuts and washers take up 85% of its product line, with the rest being dies, machines and wire rods. It sells 37.66% of all fastener products to Europe, 36.76% to the U.S., 16.84% to Taiwan, 8.74% to Asia and other regions.
San Shing Fastech continues to strengthen its manufacturing technology and improve the efficiency. By collaborating with Taiwan-based MIRDC on "San Shing Fastech Innovation Center", San Shing Fastech will develop new fastener manufacturing equipment, improve fastener surface treatments and improve inspection services.
Accroding to previous experiences, the sluggish market will take at least until the first half of 2023 to improve. Therefore, San Shing Fastech's business operation will remain relatively flat until Q1 2023, and for Q2 it will require monitoring how fast the market will recover. Its fastener products including screws, nuts and washers take up 85% of its product line, with the rest being dies, machines and wire rods. It sells 37.66% of all fastener products to Europe, 36.76% to the U.S., 16.84% to Taiwan, 8.74% to Asia and other regions.
San Shing Fastech continues to strengthen its manufacturing technology and improve the efficiency. By collaborating with Taiwan-based MIRDC on "San Shing Fastech Innovation Center", San Shing Fastech will develop new fastener manufacturing equipment, improve fastener surface treatments and improve inspection services.
三星
車用扣件
營運持平
三星創新研發中心
金屬中心
San Shing Fastech
automotive fasteners
flat operating result
San Shing Fastech Innovation Center
MIRDC
