Tang Eng Iron Works Co., Ltd., one of the major stainless steel producers in Taiwan, reported a second-quarter net profit of NT$77.56 million, securing two consecutive quarters of profitability and contributing to an H1 net profit of NT$191.68 million with earnings per share (EPS) of NT$0.55.

The consolidated revenue reached NT$2.82 billion for the second quarter, bringing total H1 revenue to NT$5.29 billion. Additionally, the unaudited revenue in July rose by 24.8% month on month to NT$880.2 million.

Improved steel market conditions, rising nickel prices, and consistent price adjustments implemented since last December drove the turnaround. Market participants expect that the enterprise will return to full-year profitability, ending four consecutive years of losses.