Formosa Plastics Group's Four Major Subsidiaries Report Q1 Net Profit of NT$44.1 Billion, Up 10.8 Times Year-on-Year

AI Summary (NQ-processed)

Formosa Plastics Group's four major subsidiaries announced a combined net profit of NT$44.1 billion for Q1, a 10.8-fold increase year-on-year. Formosa Petrochemical led with NT$20.408 billion, followed by Nanya Plastics with NT$14.253 billion, marking a 15-quarter high. Formosa Chemicals & Fibre turned profitable with NT$6.247 billion, and Formosa Plastics Corp. saw a 64-fold increase to NT$3.269 billion. Formosa Petrochemical's growth was driven by inventory gains from rising oil prices, Nanya Plastics benefited from AI-driven electronic materials demand, and Formosa Chemicals & Fibre saw improved margins from PX and rising crude oil prices due to geopolitical tensions. Formosa Plastics Corp.'s profit came mainly from investment income.