OUTPUT ISSUES: Yageo said the low number of employees returning to work after the Lunar New Year holiday affected factory utilization amid clients’ low inventory levels

Taipei Times
Date: Feb 26, 2020
By: Lisa Wang  /  Staff reporter

Passive components maker Walsin Technology Corp (華新科技) yesterday reported that pretax profit last quarter dropped 30.43 percent to NT$1.44 billion (US$47.37 million), from NT$2.07 billion the previous quarter, due to lower prices.

An outbreak of COVID-19 in China is expected to affect the global economy in the first two quarters of this year, which would create short-term headwinds for the company, according to a presentation Walsin prepared for an investors’ conference yesterday, which was not open to the media.

The company did not elaborate on the short-term effects of the epidemic.

In the presentation, Walsin said that 5G-enabled networking devices and automotive applications would continue to drive demand for passive components.    [FULL  STORY]