As the World’s Leading Automotive Forged Wheel Manufacturer, SuperAlloy Industrial’s IPO has approved by TWSE Listing Committee and Board Meeting
February 27, 2024, Yunlin
SuperAlloy Industrial Company Ltd. (SAI, 1563 TT), a global leader in automotive wheel manufacturing, has successfully completed the listing review and received approval for its Initial Public Offering (IPO) from the Taiwan Stock Exchange (TWSE). KGI Securities has been appointed as the lead underwriter for the IPO. SAI is anticipated to commence trading on the stock exchange as early as the second quarter of this year.
SAI specializes in supplying forged wheels and suspension system components to more than thirty prestigious global high-end car manufacturers. The company has benefited greatly from the sustained growth in the traditional automotive industry since the fourth quarter of 2023. Additionally, the launch of new car models by key customers this year has significantly increased demand for SAI’s customized wheels from European and Japanese car manufacturers, leading to consecutive monthly revenue growth of over 30% for the past four months. In January, 2024, SAI achieved a milestone revenue of NT$690 million, marking a notable 25.54% year-on-year growth and reaching a historical high for the same period. In the first three quarters of 2023, the operating profit was NT$482 million, the after-tax net profit attributable to the parent company was NT$453 million, and the EPS reached NT$2.15.
As the only vertical-integration aluminum forged wheel manufacturer in Taiwan integrating R&D, simulation, testing, smelting, forging, machining and surface treatment processes, SAI is renowned globally for its comprehensive solutions and strong relationships across various sectors, including supercars, luxury car brands, electric vehicles, and the aftermarket. The company has also successfully entered niche markets such as towing vehicles, aircraft and rail vehicles in the mobile transportation industry. In recent years, SAI has continued to innovate by developing new forging technologies, exploring novel material applications, enhancing design and engineering capabilities, and producing light-weight forged products for global customers collaborating closely with SAI. Moreover, the company provides tailored optimization solutions during the customer design phase to meet unique customer needs and solidify long-lasting customer relationships. SAI currently has order visibility extending up to the end of 2030, with a substantial increase in new orders from new energy vehicles by 100% in 2023 compared to 2022, driving long-term stable growth momentum.
Additionally, as the tier-one supplier for international prestigious super car and luxury car brands, SAI has capitalized on the global Environmental, Social, and Governance (ESG) wave and the trend towards green supply chains. The company has experienced strong demand for its recycled aluminum RESAICAL® product from brand car manufacturers and became our clients’ best partner to reduce carbon emission. As of the end of this January, RESAICAL® usage has accounted for 31% of total usage, and SAI is optimistic that continuous product verification and adoption by newly certified customers will lead to steady growth in RESAICAL® usage, driving the entire industry chain towards green transformation and enhancing profitability.
Looking ahead to 2024, SAI is confident in achieving double-digit year-on-year growth in customized wheel shipments and record-high revenue due to sustained strong demand from major customers. The company remains committed to its Triple-Arrow Strategy, focusing on reinforcing its leading position in the global luxury/premium car forging industry, enhancing product portfolio, operational efficiency and profitability, as well as prioritizing corporate governance and sustainability, increasing recycled aluminum wheel shipment to deliver a robust growth of 2024 profitability, maximizing sustainable profitability and shareholder return.
