TAIPEI, Taiwan, April 02, 2025 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced that on March 31, 2025, it filed with the U.S. Securities and Exchange Commission its annual report on Form 20-F (the "2024 Annual Report") for the year ended December 31, 2024 and reported its financial results for the tw ...

Market and Competition - The company operates in a highly competitive wire and cable industry in the Asia Pacific region, with competition from both domestic and foreign suppliers, including state-owned enterprises (SOEs) that may be subsidized by the government[49]. - The telecommunications cable business faces significant competition from alternative transmission technologies, particularly wireless, which could materially reduce sales[51]. - The wire & cable industry is not restricted under the 2024 Special Administrative Measures for Foreign Investment Access, indicating a stable environment for the company's PRC business[93]. - The competitive landscape includes PRC state-owned enterprises (SOEs), which may adversely affect the company's operations due to government subsidies[102]. - The wire and cable industry in the Asia Pacific region is highly competitive, with the company competing on product quality, reliability, and price[182]. Financial Performance - Total revenue increased by $46.9 million, or 11.0%, from $425.8 million in 2023 to $472.7 million in 2024[208]. - Operating profit for 2024 was $10.0 million, an increase of $8.5 million, or 546.5%, from $1.5 million in 2023[216]. - Gross profit increased by $4.9 million, or 16%, from $30.2 million in 2023 to $35.1 million in 2024, with a gross profit margin of 7.4%[215]. - The operating profit margin of the Thailand region improved from (1.27)% in 2023 to 4.13% in 2024[217]. - Finance costs decreased by $0.2 million, or 9%, from $2.5 million in 2023 to $2.3 million in 2024[219]. Risks and Challenges - The company faces significant volatility in copper prices, which could adversely affect profitability as copper is a major component of the cost of sales[46]. - The company is subject to various risk factors, including pandemics, supply chain disruptions, and geopolitical tensions, which could materially impact its business operations and financial condition[30][35]. - The company is exposed to foreign exchange rate risk, which could impact its financial results[34]. - The company’s operations may be disrupted by supply chain issues, including shortages and delays in the delivery of raw materials and components[48]. - The company does not carry insurance for consequential losses from business interruptions, which could lead to substantial costs in the event of claims[54]. Regulatory and Compliance - The company’s business could be adversely affected by changes in tax laws and international taxation frameworks, such as the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS 2.0)[37]. - The company is subject to environmental protection laws, and violations could result in liabilities that materially affect financial condition[57]. - The PRC legal system presents uncertainties that may limit the company's ability to enforce agreements and could adversely affect its operations in China[72]. - The PRC government has increased regulations in areas such as anti-monopoly, cybersecurity, and data privacy, which may require the company to adjust its business strategies[79][80]. - Governance challenges across subsidiaries may expose APWC to regulatory scrutiny and operational inefficiencies due to diverse regulatory landscapes[124]. Operations and Production - The company’s operations and production have been affected by COVID-19, leading to reduced on-site staff and operational challenges[35]. - The company’s ability to attract and retain qualified personnel is critical for its operations and could impact its competitive position[30]. - The company has implemented quality control procedures across all production stages to ensure product quality[179]. - The company holds ISO 9001 certification for quality management and assurance standards in the manufacture of electric wires and cables[181]. - The company produces telecommunications cables with capacities ranging from 25 to 3,000 pairs of 0.4 mm-diameter wires to 10 to 600 pairs of 0.9 mm-diameter wires[171]. Investments and Capital Expenditures - The Company must periodically make substantial investments in capital equipment to remain competitive, but capital expenditures are unpredictable and may adversely affect business operations[50]. - Principal capital expenditures for 2024 totaled $4.2 million, with $4.3 million in 2023 and $3.7 million in 2022, primarily for production machinery in North Asia[139]. - Expected total capital expenditures for 2025 are projected to be $0.7 million, subject to market conditions[140]. Shareholder and Governance Issues - Approximately 80.9% of the company's issued and outstanding Common Shares are directly or beneficially owned by PEWC, which limits public float and trading volume[109]. - The company may experience significant price fluctuations in its Common Shares due to limited trading volume and ownership concentration[110]. - The Common Shares are at risk of delisting from Nasdaq if the closing bid price falls below $1.00 per share for 30 consecutive business days[103]. - APWC relies on Nasdaq's controlled company exemptions, with PEWC holding over 50% of issued shares, which may adversely affect corporate governance standards[116]. - There are three independent directors on APWC's Board, with three affiliated with PEWC, potentially leading to conflicts of interest[121]. Market Expansion and Future Prospects - The company is exploring market expansion into the Americas and new product lines, including solar panels and energy storage systems[144]. - The company is developing an alternative energy business in Taiwan, leveraging new tax incentives, but has not generated any revenue to date[141]. - The company anticipates modest demand for medium and high voltage power cables due to infrastructure projects in Singapore[173]. - The company’s telecommunications and power cables are utilized in various infrastructure projects and commercial developments[163].

Asia Pacific Wire & Cable Corporation Limited Reports Third Quarter 2024 Financial Results TAIPEI, Taiwan, December 2, 2024 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced the Company's financial results for the nine months ended September 30, 2024. Unless otherwise indicated, all data are reported i ...

Asia Pacific Wire & Cable Corporation Limited Reports Second Quarter 2024 Financial Results TAIPEI, Taiwan, August 26, 2024 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced the Company's financial results for the six months ended June 30, 2024. Unless otherwise indicated, all data are reported in U.S. ...

TAIPEI, Taiwan, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced the Company's financial results for the six months ended June 30, 2024. Unless otherwise indicated, all data are reported in U.S. Dollars at the exchange rate prevailing on the date of the event or result reported. First Si ...

Core Viewpoint - Asia Pacific Wire & Cable Corporation Limited will hold its 2024 Annual General Meeting on July 15, 2024, in Plano, Texas, to discuss various shareholder matters [1][2]. Meeting Agenda - Approval of the written record from the last Annual General Meeting held on July 24, 2023 [3]. - Approval of the minimum number of directorships at two and the maximum at seven [3]. - Election of up to seven directors [3]. - Approval of compensation for each director [3]. - Presentation of the audited financial statements for the fiscal year ended December 31, 2023 [3]. - Approval of PricewaterhouseCoopers Taiwan as the independent auditor for the 2024 fiscal year and authorization for the Board of Directors to determine their remuneration [3]. - Consideration of other matters appropriately brought before the shareholders [3]. Voting Information - The record date for shareholders to vote is set for May 31, 2024, with one vote per share for all matters [4]. - Shareholders unable to attend in person can participate via conference call [4]. - Proxy statements will be provided in advance to shareholders of record [4]. Company Overview - Asia Pacific Wire & Cable Corporation Limited is a holding company incorporated in Bermuda, with its main offices in Taiwan, engaged in manufacturing and distributing wire and cable products across the Asia-Pacific region [5]. - The company operates through subsidiaries and provides project engineering services related to power cable supply and installation [5]. - Major customers include appliance component manufacturers, electrical contracting firms, state-owned entities, and wire and cable dealers [5].

Core Viewpoint - Asia Pacific Wire & Cable Corporation Limited (APWC) reported a decline in revenues and operating profit for the year ended December 31, 2023, primarily due to decreased government spending and increased competition in key markets [1][3][4]. Financial Results - Revenues for 2023 were $425.8 million, down 1.9% from $433.9 million in 2022 [2][3]. - Operating profit decreased to $1.5 million, an 80.8% decline from $8.1 million in 2022 [2][4]. - Net income remained stable at $3.9 million for both 2023 and 2022 [2][5]. - Earnings per share (EPS) was $0.19 for both years, indicating no change [2][5]. Revenue Breakdown - Thailand region revenues decreased by $4.9 million (2.9%) to $166.9 million due to reduced government infrastructure spending [3]. - North Asia region revenues fell by $18.7 million (24.2%) to $58.6 million, impacted by increased competition and the Sino-American trade war [3]. - Rest of World (ROW) region revenues increased by $15.5 million (8.4%) to $200.2 million, driven by strong demand in Australia and completion of public sector projects in Singapore [3]. Operating Profit Analysis - Operating profit margin decreased from 1.86% in 2022 to 0.36% in 2023 [4]. - Thailand region's operating profit margin fell from 1.53% to (1.27)% due to a decline in higher-margin projects [4]. - North Asia region's operating profit margin improved from 0.31% to 3.06% due to increased manufacturing productivity [4]. - ROW region's operating profit margin remained stable at 4.31% [4]. Financial Condition - Cash and cash equivalents decreased to $38.0 million in 2023 from $54.0 million in 2022 [7]. - Current assets totaled $295.0 million, down from $299.5 million in 2022 [7]. - Working capital decreased to $154.4 million from $165.9 million [7]. - Short-term bank loans increased by 17.9% to $53.7 million [7]. - Shareholder's equity attributable to APWC rose to $157.1 million from $151.6 million [7]. Cash Flow Analysis - Cash used in operating activities was $6.1 million in 2023, compared to cash provided of $6.6 million in 2022 [8]. - Cash outflows from investing activities increased to $4.9 million from $2.7 million [8]. - Cash outflows from financing activities were $5.5 million in 2023, compared to inflows of $9.6 million in 2022 [8].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December. 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR o SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commiss ...

Financial Performance - Revenues for the nine months ended September 30, 2023, were $294.2 million, a decrease of 5.3% from $310.7 million in the same period of 2022[2] - Operating profit for the nine months ended September 30, 2023, was $0.1 million, a decrease of 97.1% from $3.8 million in the same period of 2022, with an operating profit margin dropping from 1.23% to 0.04%[4] - Net income attributable to APWC shareholders was $1.1 million for the nine months ended September 30, 2023, compared to $0.6 million in the same period of 2022, resulting in an EPS of $0.05, up from $0.03[5][16] Cash Flow and Liquidity - Cash and cash equivalents decreased to $38.5 million as of September 30, 2023, from $54.0 million as of December 31, 2022[6] - Cash used in operating activities was $14.0 million during the nine months ended September 30, 2023, compared to cash provided of $5.7 million in the same period of 2022[8] - Net cash used in operating activities for the nine months ended September 30, 2023, was US$13,982,000, compared to a net cash provided of US$5,701,000 in the same period of 2022[28] - Cash and cash equivalents at the end of the period decreased to US$38,523,000 from US$47,522,000, reflecting a decline of approximately 19%[28] - Net cash provided by financing activities was US$5,097,000 for the nine months ended September 30, 2023, down from US$6,512,000 in the same period of 2022[28] Assets and Liabilities - Current assets totaled $275.1 million as of September 30, 2023, down from $299.5 million as of December 31, 2022[6] - The company's total assets decreased to $342.6 million as of September 30, 2023, from $371.0 million as of December 31, 2022[22] - Total liabilities decreased to US$142,970,000 as of September 30, 2023, from US$159,591,000 in the previous year, representing a reduction of approximately 10.4%[24] - Interest-bearing loans and borrowings increased to US$57,115,000 in current liabilities from US$45,576,000, marking an increase of about 25.5%[24] - Non-current liabilities decreased to US$15,693,000 from US$25,992,000, indicating a significant reduction of about 39.5%[24] Equity and Retained Earnings - Total equity decreased to US$199,676,000 from US$211,428,000, reflecting a decline of approximately 5.5%[24] - Retained earnings increased to US$55,180,000 as of September 30, 2023, compared to US$54,064,000 in the previous year, showing a growth of approximately 2.1%[24] Regional Performance - The North Asia region saw a revenue decrease of 25.0% due to the ongoing Sino-American trade war, while the Thailand region's revenue decreased by 13.7% due to a slowdown in the global economy[2] - Revenues in the Rest of World (ROW) region increased by 13.2%, driven by strong demand in the construction sector in Australia[2] Other Financial Metrics - Current tax liabilities decreased to US$978,000 from US$2,432,000, representing a decrease of about 59.8%[24] - The effect of exchange rate changes resulted in a net cash outflow of US$3,034,000 for the nine months ended September 30, 2023, compared to US$5,726,000 in the previous year[28]

Asia Pacific Wire & Cable Corporation Limited Reports Second Quarter 2023 Financial Results TAIPEI, Taiwan, September 25, 2023 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced the Company's financial results for the six months ended June 30, 2023. Unless otherwise indicated, all data are reported in U ...