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Hotung FY2020 earnings of NT$521.5 million up 70% y-o-y

The Edge Singapore
The Edge Singapore2/24/2021 07:01 PM GMT+08  • 2 min read
Hotung FY2020 earnings of NT$521.5 million up 70% y-o-y
Hotung shares closed on Feb 24 at $1.71, a discount off its NAV of $3.
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Hotung Investment Holdings has reported earnings of NT$521.5 million ($24.7 million) for the year ended Dec 31 2020, up 70% from NT$307.6 million in the preceding FY2019. Revenue in the same period doubled to just over NT$1 billion, from NT$498.1 million in the same period.

The better numbers were due to fair value gains on financial assets, dividend income from investments. On the other hand, the company suffered from unfavourable foreign currency movements, which resulted in it booking losses of NT$164.7 million from this item.

The company’s investment activities are conducted primarily via these three units: Hotung Venture Capital Corp (Taiwan); Daitung Development and Investment Corp (Taiwan) and Huitung Investments (BVI).

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