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Tong Ming Enterprise's 12-month Revenue in 2021 Increases

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2022-01-24
     Stainless steel manufacturer Tong Ming reported that its consolidated revenue in December 2020 was NTD 1.432 billion, a record high at a monthly growth of 10% and annual growth of 36.21%. The Q4 2021 revenue broke records at NTD 3.942 billion, a quarterly growth of 8.8%. The 12-month revenue in 2021 was NTD 13.272 billion, an annual growth of 44.49%. Both Q4 2021 and full-year revenues set a new high.
 
     Focusing on the Chinese market, Tong Ming expects that China will continue with building infrastructure this year and the company will increase the capacity to hit a new record.
 
     The Chinese government plans to invest RMB 10-17.5 trillion in 5G, IIoT, data center, AI, and EV chargers. To grasp the opportunity, Tong Ming is working on a new plant in Zhejiang Province and expects the annual capacity of the new plant to reach 80 thousand tons in 3 to 5 years.
 
     Tong Ming's current annual capacity is 120 thousand. The future total capacity is estimated to increase by 100 thousand tons. The new plant will mainly manufacture small screws and nuts and will be put into operation in Q4 2022.
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12- month revenue
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