Synnex(2347) reported robust performance in Q2, defying typical seasonal trends. Benefiting from a recovering commercial market, a booming smartphone market in Southeast Asia, and steady growth in its Semiconductor business, Synnex's consolidated revenue reached NT$100.4 billion. This marks the second-highest revenue for the same period historically, with an annual increase of 6%. Cumulative revenue for the first half of the year hit NT$204.2 billion, tying the historical high and growing 11% compared to the same period last year.

Examining the market changes across Synnex's four major business sectors, the commercial market began showing signs of recovery in Q2. The IT Commercial business saw monthly growth starting in April, setting new records, with June experiencing a significant 26% year-over-year increase. Q2 revenue for this sector totaled NT$31.6 billion, an 11% increase, marking a new high for the same period. The IT Consumer business remained relatively stable with Q2 revenue of NT$29 billion, a quarter-over-quarter increase of 8%, though slightly down 2% year-over-year.

In the Telecom business, typically a slow season for the smartphone market in the first half of the year, Synnex's phone business gradually heated up since the beginning of the year. Demand was particularly strong in Southeast Asia, with Indonesia achieving six consecutive months of growth. This led to the Telecom business reaching a six-year high in Q2 with revenue of NT$4.5 billion, a substantial 45% year-over-year increase. The Semiconductor business benefited from the continued construction of AI servers by large data centers and clients stocking up for the upcoming AI PC opportunities in the second half of the year. Q2 revenue for this sector was NT$37.4 billion, a 7% increase, setting a new high for the same period.

From a regional perspective, Synnex's performance in Indonesia marked the fifth consecutive quarter of record highs, with a year-over-year growth of 14% and a quarter-over-quarter increase of 12%. The Australia-New Zealand region posted its second-highest Q2 revenue historically, growing 8% year-over-year. The China market began to recover in Q2, with a significant 45% quarter-over-quarter increase and a 3% year-over-year growth. Taiwan and Hong Kong, however, saw declines of 4% and 11%, respectively, compared to last year.

For the first half of the year, Synnex's cumulative revenue reached NT$204.2 billion, tying the historical high with an 11% year-over-year increase. The IT Commercial, Telecom, and Semiconductor sectors all grew compared to the same period last year, while the IT Consumer sector saw a slight decline of 1%.