Wang Shaoxin, chairman of Xinbang, said that the annual revenue this year will reach 30 billion yuan.

(Photo by reporter Ou Yuxiang)

[Reporter Ou Yuxiang/Report from Taipei] SINBON (3023), an electronic components factory, held a Fa seminar today.

Wang Shaoxin, chairman of Xinbang, said that Xinbang’s revenue has continued to hit a high level this year. The cumulative revenue in the first November has reached 28.2 billion yuan. It is not a problem to reach 30 billion yuan in annual revenue. Although there will be war, inflation and other risk factors next year , Xinbang is still expected to grow at double digits, and its revenue will double in five years.

Wang Shaoxin also said that the sustainable business of electric vehicles, green energy, and medical care that Xinbang is focusing on developing has accounted for 46% of the total revenue this year. At the 25.5% level.

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SINBON is also gradually moving its production capacity out of China. Wang Shaoxin said that the fifth plant in Taiwan has started, and the production capacity of the US and Hungary plants is expected to contribute to revenue after the second quarter of next year.

European and American factories will be able to meet the requirements of customers not made in China or Asia, and supply local customers. Currently, 60% of global sales are exported to European and American customers.

The Mexican plant is still under evaluation.

SINBON's revenue has hit new highs month after month this year.

SINBON said that it has achieved steady growth in revenue and profit for 13 consecutive years, and is still confident in maintaining the growth trend next year and the year after.

At present, SINBON has 5 major industries. In the first three quarters of this year, industrial applications accounted for 28%, followed by green energy accounting for 25%, communication related accounting for 24%, automobile and aerospace accounting for 13%, and medical care accounting for than 10%.

Among the five major industries, the revenue of automobile and aerospace increased by 31% year-on-year the most, and the revenue of green energy increased by 26% year-on-year.

SINBON said that the green energy business is driven by wind power, electric vehicles and ESG trends, and is expected to grow substantially in the next few years. SINBON has been focusing on green energy for many years, and its revenue contribution will increase steadily in recent years.

In addition, industrial applications, which account for the highest proportion of revenue, are also non-consumer customers, which are still growing at a steady rate of 23% this year. Consumable communications continue to develop stable customers, and this year they will grow 3% year-on-year despite the headwind of the economy.

Regarding the electric vehicle business of SINBON, SINBON said that as long as it is an electric vehicle, it will cut in. Currently, electric vehicles, locomotives, heavy machinery, etc. are all SINBON's wiring harness application customers.

SINBON is also a charging solution provider for the SBMC Alliance (Swappable Battery Motor Vehicle Alliance), which includes Honda, Yamaha and other factories to develop general technical specifications for battery systems for light electric vehicles, and the solution designed by SINBON has been selected as the Replaceable batteries for locomotives are standard and under validation.

In addition to electric vehicles, SINBON said that offshore wind power has begun to ferment. SINBON is already an expert in the field of wind power. Facing the unique environmental challenges of wind power, SINBON has the technology to provide durable components from the nacelle to the system cabinet.

And look at the market trend, cutting into new fields such as drone wire smart logistics and unmanned applications, metaverse, low-orbit satellites, and home automation systems.

Wang Shaoxin said that Xinbang will keep an eye on the industry trend, continue to evolve and grow steadily.

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