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San Fang Expands Market Share with New Orders, Reports Solid H1 Growth
Process Industries · Chemicals: Specialty · economic_daily · 2026-09-16
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Global PU synthetic leather leader San Fang reports a 52% H1 profit increase, driven by rising brand demand and new orders, while expanding production in Vietnam and Indonesia.
What Happened
Operational Outlook: San Fang, a leader in PU synthetic leather, reports steady growth in demand from major footwear brands and an expanded market share due to new orders from Korean competitors. The company expects mid-single-digit revenue growth for the year.
Financial Performance: H1 net profit reached NT$581 million, a 52% year-over-year increase, with EPS at NT$1.46. Despite rising petrochemical raw material costs in Q2, the company maintained a stable gross margin of 31% through effective cost management.
Capacity Expansion: To meet client demand and strengthen supply chain capabilities, San Fang is expanding its overseas footprint. A second TPU production line in Vietnam began operations in February, and an Indonesian synthetic resin plant is scheduled to come online in August 2026.
Competitive Edge: By leveraging its technical expertise and global production network, San Fang continues to strengthen its position in the synthetic leather market. These strategic investments in Vietnam and Indonesia are designed to enhance the company's ability to provide localized supply solutions to international clients.