GSEO Shares Hit Record NT$1,245 After 3M Completes NT$4.81 Billion Private Placement

Shares of optics maker Genius Electronic Optical (GSEO, 3406-TW) rose against the market on Tuesday, touching a record intraday high of NT$1,245, after U.S. firm 3M completed a NT$4.813 billion private placement for a roughly 4.68% stake to advance expanded beam optical (EBO) technology. GSEO reported September revenue of NT$2.672 billion, down 1.75% month-on-month but up 0.54% year-on-year. January-September revenue totaled NT$19.631 billion, up 10.21% annually. Third-quarter revenue reached NT$7.816 billion, up 37.55% from the prior quarter and 1% year-on-year, near historical highs on seasonal customer stocking. Self-reported third-quarter net profit was NT$1.092 billion, or NT$9.69 per share. First-half results brought nine-month net profit to NT$2.669 billion and earnings per share to NT$23.68. The partnership combines 3M's EBO technology, materials science, optical design and global customer network with GSEO's precision lens manufacturing, production scale and high-precision assembly. GSEO's production team will support volume manufacturing of 3M's EBO ferrules, co-packaged optics (CPO) solutions and related optical interconnect modules.