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The revenue of New Best Wire Industrial in Q2 rose by 3.4% and its gross profit is expected to maintain at the high level of 12%. Although its profit may be a bit lower than that of Q1, the profit in H1 is still very likely to be higher than the corresponding record of last year. Main products of New Best Wire include wires and EP pipes. Sale of wires represents over 80% of its total revenue. Its wires are mostly supplied to the fastener industry.

 

The operation of New Best Wire this year is expected to keep growing. Its plant in Suzhou (China) also demonstrates potential momentum of growth in the long term. The Suzhou-based plant mainly supplies auto fasteners to global car manufacturers from Japan, Europe, USA, or local markets. The current demand is over the supply. The profit created by its Suzhou plant last year was nearly doubled, representing 20% of its profit before tax. The profit this year is expected to grow. Expecting the potential increasing demand in Chinese car market, New Best Wire also invested NTD0.3 billion in expanding the capacity of its Suzhou plant. The growth of next year is absolutely potential.

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