Largan spends NT$3 billion to buy property; CPO development expected

Taipei, Aug. 26 (CNA) Taiwan-based smartphone camera lens supplier Largan Precision Co. has made its fourth land purchase this year, announcing Tuesday that it has bought land and a building in Taichung for NT$3.08 billion (US$96.63 million) to expand production.

While Largan did not disclose any further details on the purpose of the acquisition, analysts suspected it was aimed at supporting efforts to develop CPO-related products, such as fiber array units, a business the company has recently added to its product portfolio.

According to a post to the Taiwan Stock Exchange, where Largan shares are traded, the company said the newly purchased land covered about 20,800 square meters, and the building had a floor area of around 23,319 square meters.

The property is close to Largan's headquarters in Nantun District in Taichung.

Largan, a supplier to Apple Inc., said the seller of the property was Ke Hung Industrial Co.

The linking of the purchase to the CPO product line came after Largan Chairman Adam Lin (林恩平) recently told reporters that Largan had secured its first fiber array unit orders and that trial production was expected at the end of the third quarter.

Lin said at the time that Largan's fiber array units are expected to begin generating revenue in mid-2027 at the earliest.

Largan shares attracted strong interest after the market opened Wednesday on news of the property deal.

As of 11:34 a.m., Largan shares had soared 10 percent, the maximum daily increase, to NT$6,290.00, outperforming the Taiex, the Taiwan Stock Exchange's benchmark index, which had risen 1.35 percent to 45,778.60.

Buying in Largan also spread to other CPO-related stocks, with EZconn Corp. rising 1.56 percent to NT$1,630.00.