Synnex(2347TW) Sustains Strong Momentum:Achieving Consecutive Record Highs in January and February, with 28% Annual Growth

Since the beginning of the year, Synnex has demonstrated strong revenue momentum. Despite a 20% decrease in working days in February compared to the previous year, Synnex maintains its positive momentum observed since January and once again sets a new historical record with February revenue reaching NT$27.5 billion, an 8% year-on-year increase. Cumulative revenue for the first two months of the year amounts to NT$68.7 billion, marking a 28% growth compared to the previous year and setting a new historical high for the same period.


Inspired by the excitement surrounding AI, there are signs of a positive shift in market sentiment. Consumer demand in the terminal and mobile phone markets has shown slight improvement compared to the same period last year, boosting Synnex's IT Consumer, Telecom, and Semiconductor businesses during what is traditionally a slower season. The Semiconductor business sets a new high for the fifth consecutive month, with cumulative revenue reaching NT$32.9 billion, an impressive 84% year-on-year increase. Benefiting from the AI phone trend, the Telecom business achieves NT$3.8 billion in cumulative revenue for the first two months, a 42% increase from the same period last year. The IT Consumer business records NT$18.4 billion in cumulative revenue, a 6% year-on-year increase. However, the IT Commercial business is impacted by the reduced working days during the Lunar New Year holiday, resulting in a 13% year-on-year decrease and cumulative revenue of NT$13.6 billion.


From a regional perspective, Synnex sees growth in revenue in markets such as Indonesia, Hong Kong, and Australia & New Zealand in the first two months compared to the previous year. Indonesia achieves another historical high with a year-on-year growth of over 20%; Hong Kong reaches its second-highest historical level with a growth of around 10%; Australia & New Zealand also achieve their second-highest historical level with a 4% year-on-year increase. Taiwan remains stable, while China experiences a slight decline of 5%.