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Far Eastern New Century Returns to Profitability, Plans to Monetize Hsinchu Land Assets
Process Industries · Chemicals: Major Diversified · economic_daily · 2026-08-25
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Far Eastern New Century reported a significant turnaround in its manufacturing segment and announced plans to phase out the development of 62,000 pings of land.
What Happened
Operational Turnaround: Far Eastern New Century reported a significant improvement in its manufacturing segment, with Q2 operating profit reaching NT$1.06 billion, the highest since Q2 2022. The company's H1 net profit rose by 76.28% year-on-year to NT$5.825 billion, with EPS at NT$1.15.
Asset Monetization: The company plans to monetize approximately 62,000 pings of non-core industrial land located near the Hsinchu Science Park. This strategic move is intended to optimize asset allocation and strengthen the company's overall financial position.
Supply Chain Resilience: Rising oil prices and supply risks have prompted downstream clients to increase safety stocks, driving demand for both virgin and recycled PET. Far Eastern New Century's global supply footprint has allowed it to capitalize on the increased focus on supply chain stability.
Segment Performance: The manufacturing segment saw a dramatic shift from a loss of NT$1.19 billion for the full year of 2023 to an operating profit of NT$1.27 billion in the first half of 2024. Management remains optimistic about the segment's growth trajectory as market demand continues to recover.
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