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TEINCO TECHNOLOGY (7877) will be listed on the Emerging Stock Board on November 27. Its diversified development strategy in recent years has begun to deliver results, with steady business growth. In 2024, the company achieved revenue of NT$749 million, representing a YoY increase of 288.7%, and an EPS of NT$3.28, marking a significant rise in profitability. Chairman HSIEH YU-LIN stated that the company has adopted a “strong alliance” investment and business strategy, work with international’ and Taiwan’s first-one partners customers. Current projects in progress and newly awarded contracts continue to grow steadily, and order visibility now extends through 2028.
TEINCO TECHNOLOGY, established in 2006 with a paid-in capital of NT$388 million, initially focused on electromechanical (M&E) engineering and is one of the few solar EPC companies in Taiwan with an M&E background. Since 2016, the company has transformed its core business toward the solar EPC sector and introduced into Taiwan a Japanese floating-platform technology. Teinco has delivered landmark projects across rooftop, ground-mounted, floating, and aquaculture–solar hybrid systems, including a 4.5MW science park power plant, an 8.8MW Changhua livestock-farm power plant, a 2MW floating system in Tainan, and a 14MW aquaculture–solar plant in Chiayi.Teinco’s large-scale ground-mounted project portfolio currently exceeds 100MW, including the 24MW Qigu plant in Tainan, the 30MW Syuejia plant in Tainan, and the 30MW Yunlin plant, with engineering achievements spanning across Taiwan. Thanks to years of technical innovations and service quality, the company has earned strong recognition from international Tier-1 clients and major domestic energy groups. Completed installations to date now exceed 230MW.
Driven by the global net-zero trend and the growing clean-energy demand from RE100 companies, Taiwan’s renewable-energy market has long seen demand outpacing supply. According to publicly available data from the Ministry of Economic Affairs’ Energy Administration and TSMC, domestic solar installation capacity is expected to reach 31.2GW by 2030, while TSMC’s clean-power demand alone will exceed half of that total output—highlighting the strong and sustained demand for renewable energy in the coming years.Tenco is currently engaged in the planning and construction of multiple aquaculture–solar hybrid projects in Chiayi, Tainan, and Pingtung, with a combined capacity of over 300MW. These projects are expected to be completed between 2026 and 2028 and will contribute to future profitability. In addition, to help clients sell every kilowatt-hour of generated electricity at the most favorable price and serve a broader base of clean-power users, the company established a subsidiary Teinco New Energy—an electricity-retailing business. In the future, Teinco will gradually assist both client-owned and company-owned power plants in transitioning from full Taipower feed-in-tariff sales to clean-power trading, which is expected to become one of the company’s major growth drivers in the coming years.
Speaking about the company’s competitive advantages, CEO LI HUI-PING shared that Teinco operates the largest engineering teams and offices in Taiwan, covering over 2,000 ping. Its team consists of diverse professional fields—including engineering, project management, finance, investment management, and agriculture/fisheries—allowing the company to provide clients with comprehensive and fully integrated services.In addition to EPC revenue, the company also generates income from its self-owned power plants and from solar power plant operation and management(O&M) services. EPC offers higher gross margins and faster cash cycles, while power generation and O&M revenue provide predictability and low volatility, contributing to stable cash flow. Through years of operation and strategic adjustments, the company has built a solid financial foundation, and with order visibility extending to 2028, Teinco’s future performance is expected to remain steadily positive.
Looking ahead, in addition to focusing on its core EPC business, Teinco has identified three major development initiatives, using a diversified strategy to drive future growth. First of all, its electricity-trading/retailing subsidiary, Teinco New Energy, will assist both clients and the company’s own power plants in entering the clean-power trading market. Secondly, the company is expanding into the parking-lot industry, developing a new model that integrates “parking + solar power + EV charging + energy storage.” Thirdly, Teinco is moving into overseas markets and will partner with two U.S.-based strategic allies to develop local solar projects, grid-scale energy projects, and behind-the-meter energy implementations.Chairman HSIEH YU-LIN stated that demand for clean-energy—both domestically and internationally—remains strong over the long term. With a solid foundation already established in the Taiwan market, the company plans to vigorously expand overseas , renewable energy trading, and innovative applications in the coming years, aiming to achieve further profitability following its Emerging Stock Board listing.