Taiwan's stock price hits record high General Manager Lin Zhichen: The merger and acquisition of Jingcheng will be completed by the end of next year at the earliest

Lin Zhichen, Taiwan’s general manager.

Taiwan Mobile opened fluctuatingly higher today. It once reached 124.5 yuan during the session, setting a record high. It ended at 124 yuan, an increase of 2.5 yuan, or 2.06%. The trading volume increased to 10,400 contracts, and both price and volume increased.

Taiwan's cumulative EPS in the first eight months reached 3.78 yuan, an annual increase of 22%, continuing to rank first among the three telecom giants. The current price-to-earnings ratio is about 22.6 to 23.5 times. Recently, some brokers have raised the target price of Taiwan's stock to 130 yuan.

Foreign investors bought more than 2,399 contracts yesterday, investment trusts sold more than 46 contracts, and the three major legal persons bought more than 2,159 contracts in total. It is worth noting that foreign investors bought more than 22 consecutive days, buying a total of more than 98,800 contracts.

Foreign capital began to overtake Taiwan University on August 17, and August 18 was the day when Taiwan University began to acquire Jingcheng.

Taiwan University held a board meeting on August 12 and approved the public acquisition of at least 39% of the shares of Jingcheng through its subsidiary Taixin Telecommunications for about 184.5 yuan per share. The target holding more than half of the shares was officially acquired. The acquisition period of Jingcheng was from August 18 to October 6.

Jingcheng closed at 190 yuan yesterday, an increase of 33% since Taiwan announced the acquisition. During this period, Taiwan’s prices increased by 13.24%.

Taiwan University pointed out that if it acquires 39% of the equity in Jingcheng, and if the fair meeting does not prohibit the combination, combined with Taiwan University's original shareholding of 11.86% in Jingcheng, the total shareholding will exceed 50%.

Lin Zhichen, Taiwan's general manager, previously said that the case is still in the acquisition period. If it goes well, the merger and acquisition is expected to be completed as soon as the end of this year or early next year. In the future, the revenue will be better than that of Chunghwa Telecom; in terms of profit, it has been ahead of Chunghwa Telecom this year. Chunghwa Telecom closed at 143.5 yuan, up 1 yuan yesterday.

Taiwan University pointed out that it continues to promote the Telco+Tech strategy and has multiple growth momentum, covering the telecommunications industry, corporate services business, technology telecommunications business and reinvestment. In the second quarter of this year, operating profit and after-tax net profit both hit a record high in the past 20 years; excluding the impact of the Jingcheng Information acquisition, the full-year profit outlook was revised upward, and the annual growth rate of consolidated operating profit was revised up from the original estimate of 1% to 2% to 7% to 9%.