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Genes Tech Group Announces 2022 Annual ResultsTotal revenue reached approximately NTD1,598.90 million Revenue from the trading of used SME and parts increased by approximately 28.04% to approximately NTD 797.06 million Loss on fire accident of approximately NTD257.79 million for damaged inventories 2022 Annual Results Highlights
HONG KONG, March 22, 2023 /PRNewswire/ -- Genes Tech Group Holdings Co. Ltd ("Genes Tech Group" or "The Group", Stock Code: 8257.HK) announces its annual results for the year ended 31 December 2022 ("During the year"). During the year, the Group recorded the total revenue of approximately NTD1,598.90 million. As a warehouse of the Group for storing aged and less commonly used inventories was affected by a fire accident of an adjacent factory on 18 December 2022, the Group has incurred a loss of approximately NTD257.79 million for damaged inventories accordingly, resulting in a total comprehensive loss for the year attributable to owners of the Company amounted to approximately NTD88.70 million. Basic loss per share was NTD8.04 cents. During the year, revenue from the turnkey solutions amounted to approximately NTD801.83 million, accounting for approximately 50.15% of the Group's total revenue. The revenue from trading of used SME and parts amounted to approximately NTD797.06 million, representing an increase of approximately 28.04% as compared to last year, accounting for approximately 49.85% of the Group's total revenue. During the year, revenue from the domestic business in Taiwan accounted for approximately 70.73% of the Group's total revenue. The global semiconductor market has experienced significant ups and downs in 2022, when the imbalance between the demand and suply of global semiconductor continued in the first half of the year. For the second half of the year, players of most of the industries worldwide felt pessimistic for the economy, affected by factors such as the persistent Russo-Ukrainian War, China's epidemic control, continuous hikes in the funds rate and intense inflation. Therefore, the demand for consumption is weak, resulting in a slowdown in the growth of the semiconductor industry and inventory adjustments which denote the start of a downward industrial cycle for the semiconductor market. According to a survey by Gartner, a market research firm, total revenue for the global semiconductor industry only increased by 1.1% in 2022 amounting to USD601.7 billion. Gartner also revised downwards its forecast on the total revenue for the global semiconductor industry for 2023 to 3.6%. According to IC Insights, global semiconductor sales increased by 3% in 2022 to USD636.0 billion, when total semiconductor sales are expected to decrease by 5% for 2023. In spite of the above, several market research institutions also expect this downward cycle to bottom out in the second half of 2023, with global semiconductor sales rebounding in 2024. According to the report of the Development Institution of Industry, Technology and International Strategy of the Industrial Technology Research Institute (IEK) in Taiwan, for the semiconductor industry in Taiwan, a new era of mass production for 3-nanometre (nm) semiconductors is expected to arrive formally in 2023, in view of the advancement of technology. There is a possibility for the total annual output value to climb to NTD5 trillion, with an annual growth rate of 6.1%.The Group will pay close attention to the changes in the market environment, respond to market changes in a prudent and prompt manner to seize development opportunities, and actively explore market development opportunities. Mr. Yang Ming-Hsiang, Chairman and Chief Executive Officer concluded: "Although there were short-term fluctuations in the global output value of the semiconductor industry in 2022 due to market cycles and macroeconomic conditions, this downward cycle is predicted bottom out in the second half of 2023 and global semiconductor sales will rebound in 2024, as they may be driven by the possible recovery of demand in industrial sectors such as communication, high performance computing (HTC), artificial intelligence (AI), vehicles with advanced driver assistance systems (ACDC) and low-Earth-orbit satellites. The long-term outlook for the semiconductor markets remains promising. In response to changes in the market environment, the Group will actively seize the development opportunities, and is committed to taking advantage of the research and development of investment products and technological upgrades to enhance the core competitiveness of the Group and create long-term value for shareholders. About Genes Tech Group Holdings Co. Ltd (Stock Code: 8257.HK) Genes Tech Group Holdings Co. Ltd is turnkey solution provider and exporter of used SME and parts in Taiwan. Since the commencement of its business in 2009, the Group mainly engaged in providing turnkey solution of used SME and parts to its customers and modifying and/or upgrading the semiconductor equipment of its production systems according to customers needs. In addition, the Group is also engaged in the trading of used SEM and parts. The used SME and parts supplied by the Group included furnaces, clean tracks and other related items, which were used at the front-end of the semiconductor manufacturing process, wafer fabrication such as deposition, photoresist coating and development, and these were extensively applied in mobile phones, game consoles, DVD players, automotive sensors and other digital electronic products. The press release is distributed by Vitalink Consultants Limited on behalf of Genes Tech Group Holdings Co. Ltd.
SOURCE Genes Tech Group Holdings Co. Ltd 
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