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Copper foil manufacturer LCY Technology has started trading on the mainboard of the Taiwan Stock Exchange (TWSE) on June 28. It started trading at NT$24.80 ($2.17) and closed at NT$33.30, according to Digitimes.
LCY generated revenues of NT$3.77 billion in 2017, up about 26% year-on-year, while net profits surged 47.6% YoY to NT$599 million. The copper foil market shifted from a state of oversupply to undersupply in 2017, which buoyed LCY's sales and profit performance, according to Digitimes. The company remains optimistic about the Copper foil market outlook citing demand driven by automotive electronics, 5G and other emerging applications.
According to Digitimes, China has been LCY's largest market, accounting for about 70% of company revenues. It has obtained orders from China's major high-end PCB makers and CCL suppliers. About 12% of its revenues, meanwhile, are generated from the Taiwan market, where it supplies copper foil for mainly handset PCBs and HDI boards.