CORNERSTONE CORP (UP YOUNG,
TPEx ticker: 6728), the leading air conditioner and commercial laundry machine distributor announced the financial results for March, 2023.The consolidated revenue is NT$ 263 million, raises by 19% in comparison with the same period last year. The consolidated revenue for Q1 achieved NT$ 611 million. The YoY growth rate is 4.8%.
The sales performance was clearly increased, as the early bird promotion being launched, dealers placed orders for demands in summer. Besides, the government compensations policies also motivate consumers to purchase new air conditioners. Upon those factors, UP YOUNG’s revenue in March achieved a record high for the same period. Reminder from UP YOUNG: The electricity cost will be raised from April. Consumers will be more willing to discontinue their air conditioners that consume excessive electricity. The early bird promotion will last to the end of April. The company suggests consumers not to miss the pre-summer discounts. UP YOUNG will introduce more varied solutions and premium units, aiming to cater to all kinds of houses and demands.
The economics growth in Southeast Asia has been robust for years. To hold the business opportunity, UP YOUNG started expansion in Thailand and Vietnam. In Thailand, 70-80 laundry stores adopted the facilities and operation system of UP YOUNG. The coin laundry service in Vietnam will be officially launched in Q2. The facilities distribution business will continue collaborating local laundry brands. The company will continuously input resources for overseas market expansion.
One-meter, UP YOUNG’s private home electronics brand, has launched the 3L large intelligent food disposal and the wireless vacuum packing machine. Due to the NT$6000 payment policy, consumers were incentivized to make purchases. Thus, the products that cater to young generation demands were launched during this period.
The 3L large intelligent food disposal presents the innovative sanitizer techniques. The multi-functional machine is capable of drying, blending food disposals, and reduce the disposal volume by 90%. For urban dwellers, the reduced disposal means they no longer wait for daily garbage collection, bringing them significant relief.
Besides, small families no longer have expired food issues. The wireless vacuum packing machine extracts all the air from the container as the button is pushed and results in the hypoxia effect. It keeps various kinds of food fresh and sanitized. The product is evidently a must-have in daily life.
2023 March UP YOUNG CORNERSTONE CORP. Consolidate Revenue
Press Release Contact：
|Fanny Shen, PR Executive UP YOUNG CORNERSTONE CORP.
Sandy Chien, Media Relations Time-IR
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