On the payoff of its efforts to continue going upmarket, Chun Yu Works & Co., Ltd., one of Taiwan’s major fastener makers and listed on the Taiwan Stock Exchange, effectively keeps in comparatively fine shape among its local peers amid market changes seen lately.
After upbeat performance seen in 2014 through the first half of 2015, Taiwan’s fastener industry has been confronted with growing impacts since the second half of last year, which include the fluctuating global economy, China’s economic slowdown, sluggish market demand in Europe and many others. Among the worst factor, industry insiders say, is slumping steel price, which drastically dropped by 30 percent in China last year to cause many of Taiwanese fastener makers to suffer severe losses on inventory write-down in the same year.(…)
