Co-Tech announced its Financial Report for the 1st 9 months of 2014
(Nov 11th, 2014, Taipei News)
Co-Tech (Twn Stock Code : 5305) held its Board Members meeting today and approved its Financial Report for the 3rd
quarter and the 1st 9 months of 2014. Although sales for the 3rd quarter improved 7% as compared to the same period
last year, due to a high production cost, incurred a loss of NTD0.35 per share. The accumulated 9 months revenue was
NTD3.09 billion, and the accumulated loss of NTD 1 per share.
Co-Tech sales was 100% generated from sales from PCB/CCL before, due to an industry over supply condition, and a
low capacity utilization, it was tough to be profitable. Co-Tech started its improvement strategy this year through
investment in development of products besides Copper foil, and at the same time, making an effort to improve its existing
copper foil products, this will enable Co-Tech to improve its capacity utilization, economy of scale and thereby profit through
a minimum capital and time investment.
Through a minor adjustment of process and equipment, Co-Tech managed to successfully developed RTF product (Reverse
Treatment Foil) , Double Treatment T and Q oz product(abbreviation : DT) it also managed to improve its 3 oz Thick copper
foil yield rate through an adjustment of its formula in the 4th quarter. The smooth surface of RTF products can help reduce
signal loss in high frequency and high speed products, Co-Tech expect market to grow along with 4G and high frequency
high speed market growth, and it is in the midst of customer sampling. HDI utilizing DT products will be able to thrift its 10 to
20 processing depending on its number of layers, thus greatly improve its yield rate. This market is at the budding stage and
expects to generate volume only in the 2nd quarter next year. The 3 oz thick copper foil are mainly applied on automobiles,
Co-Tech stopped production due to low yield rate；due to a longer certification period, shipment is expected to start in the
2nd quarter next year.
Co-Tech’s copper foil equipment for Li-Ion Battery and flexible board were damaged last year due to fire, production
equipments for 100 tons were completed in October this year, the company expects equipment and production testing to be
completed in the 4th quarter and expect to generate income in the next quarter.
Co-Tech passed the resolution of a change in Chairman during the meeting, Mr. Raymond Soong, the largest shareholder of
Co-Tech, and the Chairman of Lite-On Technology will take the Chairman position and lead this company.