Benefiting from the booming downstream sector?of household appliances, particularly in China, Taiwan-based Rechi Precision Co., Ltd., world's fourth-biggest compressor manufacturer by shipment, finished May with banner sales.
The firm's latest financial report shows that its compressor sales and consolidated revenue both hit a single-month high of 1.1748 million and NT$1.623 billion (US$54.1 million), respectively, in the month, up 16.97% and 16.23% year-on-year (YoY). For the first five months of this year, cumulative sales and consolidated revenue totaled 6.2648 million units and NT$8.464 billion (US$282.13 million), respectively, both all-time highs and for a notable YoY increase of 24.98% and 18.36%.
Rechi Precision's directors attributed such sales?growth mainly to seasonal booms in the household appliance sector?worldwide, especially air conditioner manufacturers in China. Driven by?overwhelming orders from?Chinese customers, including such globally known brands as Haier, Hisence and TCL, in need of restocking for simmering domestic market during April-June, the Taiwanese maker's production lines in China have been fully booked?through June for the moment.
Based on the current sale volume, the directors optimistically project that Rechi Precision is very likely to attain its 2014 sales goal of 13 million units in advance.
The firm has compressor factories in Taiwan's Taoyuan and China's Huizhou and Qingdao, with annual output of 15 million units as a whole. With?increasingly tightening capacity following?steadily surging shipments?over the past few years, the company has mapped out a plan to set up four new production lines with annual output of 1.5 million units each in China's Jiangxi Province, which will come online?at the end of 2015. (SC)