Electronic connector and cable assembly maker Sinbon Electronics, focusing on what it calls the "MAGIC" (medical health, automotive, green energy, industrial applications and communications) sectors in recent years, will move to upgrade its businesses toward the "iMAGIC+" direction by incorporating the "intelligence, internationalization and integration" elements into its products and services, according to company sources.
Company chairman Joseph Wang told an investors conference held December 13 that following years of development in the MAGIC fields, Sinbon will step up its efforts to develop more intelligent and integrated electronic components and systems in line with the growing IoT (Internet of Things) and AI (artificial intelligence) applications worldwide, while also promoting its products to more international markets.
Wang said Sinbon boasts a solid foundation for developing iMAGIC businesses, as its strong software, hardware and firmware R&D team can directly design and develop new products on a customization basis or in cooperation with tech startups, while its sales and engineering staff in North America, Europe and China can also directly provide localized services to customers in the areas.
Wang continued that Sinbon has already helped customers develop many intelligent products. For instance, it has assisted a US customer in developing smart windows by providing specific electronic wires and controllers that can allow windows to adjust colors in accordance with temperature changes or through apps. The company has also developed iHome products such as smart water heaters, electronic fireplaces, and smart kettles. Also among its latest items, a standalone electric car charging gun is expected to be popular with customers in China and US.
Sinbon scored consolidated revenues of NT$12.551 billion (US$418.42 million) in the first 11 months of 2017, rising 2.91% on year with gross margin at 25%. Its net EPS for the first three quarters of the year also rose 6.4% on year to NT$4.32. In terms of revenue contributions, 32% is from communications products, followed by industrial applications with 30%, green energy 19%, automotive 10% and medical health 9%. The company expects to achieve an annual revenue goal of NT$20 billion by 2020, according to Wang.
