PMOLED panel maker RiTdisplay has stepped into production of batteries, UPS and energy storage systems by investing in lithium battery maker RiTwin and energy management solution developer Han-Win Technology, according to the company.
RiTdisplay earlier in 2021 invested in Welltech Energy, a maker of batteries used in consumer electronics, and became the Taiwan general sales agent for Duracell primary batteries.
Battery production will focus on use in electric scooters and bicycles, RiTdisplay said.
RiTdisplay has obtained significant amounts of orders for batteries used in UPS at semiconductor factories via system integration service providers, and will expand production capacity for such batteries in Taiwan, the company noted, adding that if demand further increases, RiTdisplay may set up additional production lines at its factory in China.
Besides, RiTdisplay is testing energy storage systems used in AFC (automatic frequency control) services for state-run Taiwan Power Company.
Batteries took up about 30% of third-quarter 2021 consolidated revenues of NT$1.173 billion (US$42.0 million), and the proportion is expected to exceed 30% in the fourth quarter and further rise to 50% in 2022, RiTdisplay indicated.
Fourth-quarter 2021 sales from PMOLED panels are expected to slip sequentially due to off-season effects, delays in marine shipment and components/materials shortage, RiTdisplay said.
RiTdisplay posted gross margin of 25.13%, operating profit of NT$135.3 million, net profit of NT$156.0 million and net EPS of NT$2.31 for third-quarter 2021, leading to consolidated revenues of NT$1.657 billion, gross margin of 21.32%, operating profit of NT$144.4 million, net profit of NT$167.8 million and net EPS of NT$2.51 for January-September.
RiTdisplay has reported consolidated revenues of NT$182.0 million for October, increasing 12.34% sequentially and 8.97% on year, and sales of NT$1.839 billion for January-October rose 35.68% on year.
