China rebound drives 32% jump in Tong Yang profitBy Lisa Wang / Staff reporterTong Yang Industry Co (東陽實業), a supplier of automotive metal sheets and bumpers, yesterday reported that pretax profit last month surged 32 percent to NT$135.29 million (US$4.6 million) from July thanks to recovering demand in the Chinese market. It was the fourth consecutive month of pretax profit growth for Tong Yang, indicating that the effects of the COVID-19 pandemic are easing, the Tainan-based company said. Although a monthly increase, the figure was a decline of 36 percent from a pretax profit of NT$211.21 million that it made a year earlier, company data showed. A man looks at a Tong Yang Industry Co automotive bumper at the Taipei World Trade Center Exhibition Hall in an undated photograph. Aftermarket business refers to the secondary market in the automotive industry, which offers the sale, distribution and installation of vehicle parts, chemicals, equipment and accessories to people who have purchased from automakers.

Source: Taipei Times September 15, 2020 15:56 UTC