Tainan Spinning Co., Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 07, 2023
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Tainan Spinning Co., Ltd. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was TWD 5,029.28 million compared to TWD 5,599.26 million a year ago. Net loss was TWD 72.73 million compared to net income of TWD 418.42 million a year ago. Basic loss per share from continuing operations was TWD 0.04 compared to basic earnings per share from continuing operations of TWD 0.25 a year ago. Diluted loss per share from continuing operations was TWD 0.04 compared to diluted earnings per share from continuing operations of TWD 0.25 a year ago.
For the six months, sales was TWD 10,482.59 million compared to TWD 11,390.25 million a year ago. Net loss was TWD 546.86 million compared to net income of TWD 1,176.65 million a year ago. Basic loss per share from continuing operations was TWD 0.33 compared to basic earnings per share from continuing operations of TWD 0.71 a year ago. Diluted loss per share from continuing operations was TWD 0.33 compared to diluted earnings per share from continuing operations of TWD 0.71 a year ago.
Tainan Spinning Co., Ltd is a Taiwan-based company principally engaged in the manufacture, processing and sales of textile products. The products of the Company include cotton yarn, polyester cotton, polyester granules, ester granules for bottles, polyester filaments, finished polyester filaments and others. The Company mainly operates through two segments, including Tainan Spinning segment and Tainan Spinning Vietnam segment. The Company operates businesses in China, Vietnam, Korea, Japan, South Africa and Americas, among others.