Taiwanese wire and cable maker Ta Ya posted a sharp rise in first-half results and is optimistic about its core business, but its green energy and energy storage operations are facing headwinds.

• Both revenue and gross profit grew in the first half, with earnings per share close to double the figure for the same period last year.
• Growth came from three sources: Taipower's grid resilience programme, copper prices holding at historic highs, and electricity demand driven by capacity expansion in the electronics industry.
• Wire and cable still accounts for more than 90% of revenue, with higher-end products such as medium-to-high voltage and extra-high voltage cables carrying better margins.
• Green energy is the weak point: government approval of solar power sites has become stricter and development timelines have lengthened, leaving the company unable to set clear targets.
• The energy storage market is "not very ideal," with more competitors, falling bid prices and insufficient green electricity supply leaving demand for large-scale storage short of expectations.

Outlook: order visibility in the core business remains high, but new investment in green energy and energy storage will slow, with each case assessed cautiously.