King Slide founder becomes Taiwan’s richest person
By Chen Cheng-hui / Staff reporter
Shares in King Slide Works Co (川湖科技), a supplier of rail kits used in servers, rose by the 10 percent daily limit to close at a record high of NT$13,750 yesterday, making the company’s founder and chairman Lin Tsung-chi (林聰吉) Taiwan’s richest person for the time being.
According to Forbes’ real-time billionaires list, Lin’s net worth increased by US$1.8 billion to US$19.5 billion yesterday, surpassing Yageo Corp (國巨) founder and chairman Pierre Chen (陳泰銘), who has a net worth of US$17.4 billion, to become the richest person in Taiwan and rank 140th globally.
The stock’s rally came as the company on Friday reported that its consolidated revenue last month surged 355.52 percent year-on-year to NT$6.41 billion (US$201 million), and net profit jumped 321 percent to NT$4.79 billion, reflecting strong growth momentum driven by demand for artificial intelligence (AI) servers.
The signage of King Slide Works Co is pictured outside company headquarters in Kaohsiung’s Lujhu District in an undated photograph.
Photo courtesy of King Slide Works Co
King Slide’s shares rose above NT$10,000 for the first time earlier this month, becoming the third stock on the local bourse to cross the NT$10,000 milestone. The stock has risen 266.67 percent so far this year, Taiwan Stock Exchange data showed.
In the first seven months of the year, the Kaohsiung-based company’s cumulative revenue reached NT$22.69 billion, up 136.58 percent from a year earlier.
With earnings per share (EPS) of NT$50.24 for last month, King Slide’s cumulative EPS in the first seven months reached NT$161.2, surpassing the NT$103.23 registered for the whole of last year, company data showed.
Yuanta Securities Investment Consulting Co (元大投顧) said the company’s more than 3,600 patents, automated production and economies of scale have allowed it to continue driving product added-value and building up technical barriers for rivals.
“Overall, we remain positive on King Slide on the back of its patent moat, and expect its AI rail kit market share to remain at above 90 percent,” Yuanta said in a note last week.
Along with capacity expansion at plants in Kaohsiung and Houston, Texas, King Slide is expected to see growth momentum continue next year and remain solid through 2029, Yuanta said.
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