Polarizer maker Cheng Mei Materials Technology (CMMT), in view of fast growing demand for electric vehicles (EV), will develop and produce separators of car-use battery cells through introducing technology from Japan, according to the company.
As such separators and polarizers belong to film materials, CMMT can apply its polarizer technology to R&D and production of such separators, the company explained.
In addition, CMMT will step into energy storage systems and will thereby cooperate with state-run Taiwan Power Company (Taipower) to provide energy storage systems to participate in Taipower's Energy Trading Platform, CMMT noted, adding that it will begin production of energy storage systems in 6-12 months.
CMMT will dispose of its 100% stake in Samoa-registered Chi Mei Materials Technology Investment at US$175 million, equivalent to selling its indirect stake in China-based polarizer maker Hengmei Optoelectronics.
CMMT posted consolidated revenues of NT$8.316 billion (US$298 million), gross margin of 7.72%, operating profit of NT$157 million and net profit of NT$721 million for the first three quarters of 2021.
Of the revenues, 47% came from the domestic market, 28% from China and 25% from Japan. In terms of applications, TVs accounted for 44% of the revenues, monitors and notebooks for 43%, and small- to medium-size panels and others for 13%.
CMMT keeps developing high value-added polarizers and expects the corresponding revenue proportion to reach 15% in 2022 and 20% in 2023.
CMMT had consolidated revenues of NT$922.6 million for November slipping 4.42% on month but growing 1.83% on year and those of NT$10.203 billion increasing 20.71% on year.
CMMT estimates fourth-quarter 2021 consolidated revenues to remain unchanged sequentially and first-quarter 2022 consolidated revenues to remain flat or dip about 5% on quarter.
