Hiwin inaugurates new Italy headquarters

Taipei, May 26 (CNA) Leading Taiwanese machinery maker Hiwin Technologies Corp. said Tuesday it has inaugurated its new Italian headquarters in Agrate Brianza, some 20 kilometers northeast of Milan.

In a statement, Hiwin Chairman Chuo Wen-hen (卓文恆) said the location will serve as a European hub for its Italian subsidiary, which was founded in 2013, employs around 160 people and produces machine tools, packaging devices, automation equipment and semiconductor-related systems.

The 17,000-square-meter site accommodates logistics and office space, multifunctional areas for education and training, as well as product displays and a customer reception.

Hiwin said the headquarters' design incorporates solar power, smart lighting, air purification systems and organic coatings.

During a May 8 investor conference, Hiwin reported NT$579 million (US$18.55 million) in net profit for the first quarter of this year, the highest quarterly profit in six quarters and up 20 percent from a year earlier. First-quarter earnings per share stood at NT$1.64, compared with NT$1.36 a year earlier.

Hiwin generated NT$6.379 billion in consolidated sales in the first quarter, up 9 percent from a year earlier, with its gross margin -- the difference between revenue and cost of goods sold -- standing at 31.94 percent, the highest since the fourth quarter of 2023.

Linear guideways accounted for 60 percent of its first-quarter total sales, ballscrews 20 percent and robotics 12 percent, according to Hiwin.

Shares of Hiwin had risen sharply in recent sessions, with investors hopeful about the prospects of an AI-driven pivot into robotics, analysts said.

Prior to Tuesday, Hiwin shares had soared about 104 percent since the beginning of this year.