Synnex(2347) announced its financial results for the second quarter and the first half of the year. The second quarter revenue was NT$100.2 billion, an annual increase of 6%; after-tax net profit was NT$1.8 billion, an annual increase of 7%, with earnings per share of NT$1.09. Cumulatively for the first half of the year, revenue was NT$204.0 billion, the second highest in history, an annual increase of 11%; after-tax net profit was NT$4.0 billion, an annual increase of 17%, with earnings per share of NT$2.41.

Among Synnex's four major businesses, the performance of Semiconductor and Telcom sectors stood out the most in the first half of the year. Driven by proactive inventory stocking in the supply chain, Semiconductor business revenue for the first half of the year surpassed NT$80 billion for the first time, setting a new record with an annual increase of 28%. The Telcom business benefited from the AI smartphone trend and the launch of new devices, reaching a new high since 2018, with a significant year-on-year growth of 42%. The IT Commercial business reversed its trend and started to rise from the second quarter, driving a 2% annual increase in revenue for the first half of the year. The IT Consumer business remained roughly flat compared to last year.

In terms of profitability, benefiting from continuous revenue growth and improved operational efficiency, Synnex's gross profit and operating income both reached new highs for the same period, amounting to NT$8.6 billion and NT$4.3 billion, respectively growing by 2% and 6%. Synnex's investment income from overseas joint ventures increased by 5% year-on-year, with the most outstanding performance in Thailand. Additionally, due to active inventory level control and proper working capital allocation, interest expenses significantly decreased by nearly 20% compared to the same period last year, even though market interest rates remained high. With the record high operating income, growth in investment income, and reduction in interest expenses, after-tax net profit reached NT$4 billion, a significant increase of 17%, with earnings per share of NT$2.41.

Looking ahead to the third quarter, Synnex's revenue in July hit a new high for the period, reaching NT$35.8 billion, an annual increase of 12%. All four major business areas rose simultaneously, laying a solid foundation for the third quarter's momentum. Coupled with the upcoming launch of heavyweight new products, Synnex is cautiously optimistic about its revenue performance in the third quarter.