SANNENG-KY sees the potential of the Southeast Asian market and plans to invest in production lines in Indonesia

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Sanneng -KY(6671-TW) revenue in 2021 re-stood at 2 billion yuan, with 2.067 billion yuan to a new high, ranking first in China and Taiwan baking ware, Sanneng – KY president Zhang Ruirong is further optimistic about the development potential of the Southeast Asian market, following the completion of the establishment of a marketing center in Indonesia, also plans to invest in Indonesia to set up a factory.

The Southeast Asian bakeware market generates NT$250 billion annually. According to the analysis of SANNENG-KY’s revenue structure of NT$2.067 billion last year, sales in the Chinese and Taiwanese markets accounted for 70% and 25%, respectively, while sales to Japan and Indonesia accounted for roughly 5%. SANNENG-KY is optimistic about the potential of the Southeast Asian market and has established a marketing center in Indonesia. The current operation involves exporting goods from the Wuxi factory in China to Indonesia and distributing it to other Southeast Asian countries.

At present, SANNENG-KY has factories in Taichung and Wuxi, Jiangsu. The expansion of the Wuxi factory has already been completed, while the new overseas production site is expected to be located in Indonesia. The planning and construction of the factory will commence as soon as the pandemic conditions improve.

SANNENG-KY has initiated e-commerce sales since 2019, and the pandemic has had minimal impact on sales. In 2021, the Company’s revenue reached the NT$ 2 billion mark again, peaking at NT$ 2.067 billion. The revenue in the first 2 months of 2022 was NT$269 million, equivalent to an annual increase of 15.57%.

SANNENG-KY estimates that this year’s revenue will continue to grow, and investors expect the revenue to grow by at least 8% in 2022.

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