Fuqiao Reports First-Half Earnings Exceeding Last Year's Total, Boosted by High-End Fiberglass Fabric Shipments

Fiberglass fabric manufacturer Fuqiao (1815) announced that its first-half earnings have already surpassed its total profit for the entire previous year, driven by an increased proportion of high-end fiberglass fabric shipments. The company reported a record quarterly net profit of NT$1.45 per share in the second quarter, bringing its first-half net profit to NT$2.24 per share. Fuqiao stated its intention to continuously expand capital expenditure this year, aiming to raise the proportion of advanced process products in its production capacity to 70%. The company is also expanding production of its Low DK1 and Low DK2 products, with expectations that related benefits will be reflected in its revenue and profit performance quarter by quarter. Fuqiao's stock price saw a significant increase, briefly hitting the daily limit at NT$88.1 early in the trading session, with trading volume expanding. As of around 9:13 AM, the stock was up 7.12% at NT$85.8, with over 12,800 shares traded. The company expressed cautious optimism for its second-half performance, citing the increased output of Low DK1 and Low DK2, a higher penetration rate for Low CTE, and synchronized growth in shipments and prices for low-orbit satellite E-class fiberglass fabric, along with improvements in its subsidiary's operations. Furthermore, Fuqiao held a groundbreaking ceremony last month for a new plant in Thailand. This facility will incorporate advanced processes and primarily produce high-end fiberglass fabric products for applications including AI servers, low-orbit satellites, and IC substrates. Production is expected to commence in the third quarter of 2027, aiming to leverage regional supply chain advantages to serve Southeast Asian customers more effectively and enhance supply chain efficiency and resilience. The new plant is projected to contribute to the group's revenue and profit starting in the second half of 2027.