Synnex(2347TW) Sets Another Record in May:Revenues Reaches NT$32.9 Billion, Up 12% YoY

Synnex(2347) reported May revenue of NT$32.9 Billion, achieving a new historical record for the month with an 8% increase from the previous month and a 12% year-over-year growth. This surge in revenue is attributed to the booming smartphone market in Southeast Asia, continued strong demand for semiconductors, and the gradual recovery of the China market. Cumulatively, the revenue from January to May reached NT$167 billion, also setting a new record with a 15% annual growth.


In May, all four of Synnex's business sectors showed commendable performance both year-over-year and month-over-month. The Telecom business saw a significant 63% YoY increase, the highest in six years, driven by strong demand in Southeast Asia, especially in Indonesia, where a post-Ramadan buying spree occurred. The Semiconductor business, benefiting from customers' continued active stocking, achieved a 29% YoY growth in May. The Commercial and Consumer IT businesses also saw market demand warming up, with both sectors experiencing nearly 20% month-over-month growth.


From a regional perspective, the China market is stabilizing, with a positive year-over-year increase in May and a substantial 27% growth from April. Indonesia continued to set new records for the same period, with a 5% YoY growth and a 22% MoM increase. The Australia-New Zealand region also saw a 22% MoM increase, reaching the second-highest level for the same period. Taiwan and Hong Kong showed relatively stable performance.