NEWS CENTER

　　Chicony Power Technology Co., Ltd. (6412.TW) today announced its consolidated financial results for the third quarter of 2023. Thanks for the favorable foreign exchanges and better product mix, the company’s gross margin, operating margin, and net margin for the third quarter all improved QoQ/YoY and reached 22.4%, 12.5% and 9.7%, respectively. Meanwhile, EPS for the third quarter rose 19.2% QoQ to NT$2.36. Net net, its gross margin and operating margin in 3Q23 hit new record highs and beat market expectations.

　　For 3Q23, Chicony Power’s consolidated revenues arrived in NT$9,740 million, up by 5.1% QoQ and down by 9.8% YoY. Gross margin was 22.4%, up by 2.1ppt QoQ and 1.9ppt YoY. Operating margin was 12.5%, up by 2.9ppt QoQ and 1.1ppt YoY. Net margin was 9.7%, up by 1.2ppt QoQ and 0.8ppt YoY. Meanwhile, operating profit reached NT$1,213 million, up by 35.9% QoQ and down 1.8% YoY, with the YoY decrease caused by the decline in revenue. Net profits was NT$942 million, up by 19.2% QoQ and down 2.6% YoY. Basic EPS was NT$2.36, up by 19.2% QoQ and down 3.3% YoY. In a nutshell, Chicony Power reported record-breaking gross margin and operating margin in 3Q23.

　　For the first three quarters of 2023, the company’s accumulated consolidated revenue reached NT$27,302 million, down by 13.5% YoY. The first-three quarter gross margin was 20.6%, up by 2.6ppt YoY. Operating margin was 10.4%, up by 1.0ppt YoY. Net margin was 8.5%, up by 0.6ppt YoY. Gross profit, operating profit, and net profit were NT$5,616 million, NT$2,832 million and NT$2,313 million, down by 1.2%, 4.1% and 7.3% YoY, respectively. Overall, Chicony Power reported first-three quarter gross margin, operating margin, and net margin all hit record highs for the same period.

　　Chicony Power also announced its unaudited consolidated revenue of NT$3,148 million, up by 1.0% YoY, for October 2023. For the first ten months, accumulated revenues totaled NT$30,450 million, down by 12.2% YoY.