Qiao Xin's Q1 Earnings Drop Over 60% Year-on-Year

Taiwanese automotive wheel manufacturer Qiao Xin (1563) has announced its first-quarter financial results, revealing a significant year-on-year decrease in earnings per share. While the company's revenue for the quarter stood at NT$1.872 billion with a net profit of NT$131 million, the earnings per share of NT$0.6 represent a 60.78% drop from the previous year's NT$1.53.

Despite the dip in profitability, Qiao Xin highlighted its strategic focus on enhancing production efficiency and expanding the application of its proprietary low-carbon recycled aluminum, RESAICAL. This eco-friendly material has gained traction with international luxury European car manufacturers and is now being extended to sectors like semiconductor advanced process equipment and aerospace.

The company's commitment to sustainability is further underscored by the expansion of its recycled aluminum production capacity. The completion of a second 100,000-ton aluminum smelting plant at its Pingtung facility is expected to meet the growing demand for RESAICAL in the coming years. This strategic move positions Qiao Xin not only as a key player in the automotive wheel market but also as an innovator in sustainable material solutions across diverse high-tech industries.