Benefited by the boom in the global steel market and good receipt of wire rod orders, Yieh Hsing Enterprise Co., Ltd., one of the major wire rod manufacturers in Taiwan, reported that its performance turned to profit from a loss in the first quarter of this year.

During the period, Yieh Hsing’s net profit after tax was NT$18 million, with an EPS of NT$0.03. With the continuously hiking steel prices and smooth order receipt, the firm’s revenue reached NT$598 million in June, a year-on-year increase of 42.64%.

According to market participants, due to Yieh Hsing’s stable operations in the second quarter of this year and Taiwan’s nationwide Level 3 epidemic alert eased today (July 27), the firm’s investment in the department store and hotel industry will drive its operational performance.