Ennostar's Q2 Revenue Surpasses NT$9 Billion, Reaching New High; Q3 Expected to Be Better

(CNA Taipei, July 2, 2024) Connector and cable manufacturer Ennostar announced today that its June revenue reached NT$3.093 billion, an increase of 2.72% month-on-month and 17.59% year-on-year. This marks the first time its monthly revenue has surpassed NT$3 billion, setting a new historical record. In the second quarter, revenue hit NT$9.063 billion, also a quarterly record.

Ennostar explained that the growth in June revenue was mainly driven by increased sales in sectors such as green energy and industrial applications, which grew by 25.87% and 4.06% respectively compared to May.

Ennostar stated that based on current customer demand schedules, orders continue to increase steadily, and it anticipates that third-quarter operations will be better than the second quarter.

Ennostar's second-quarter revenue of NT$9.063 billion represented a 8.88% increase quarter-on-quarter and a 16.70% increase year-on-year, surpassing the previous historical record of NT$8.723 billion set in the second quarter of 2023. For the first half of the year, cumulative revenue reached NT$17.387 billion, an increase of 8.75% year-on-year, also exceeding the NT$17.278 billion from the same period in 2023 and setting a new record for the same period in history.

Last year, Ennostar's full-year revenue of NT$31.336 billion decreased by 5.67% year-on-year, ending a streak of 15 consecutive years of revenue growth. This was partly due to factors such as former U.S. President Trump's cancellation of subsidies for green energy, including solar and electric vehicles. However, Ennostar Chairman Wang Shao-hsin predicted at the end-of-year investor conference in 2025 that with the company's investments in AI-related opportunities in semiconductors, robotics, and drones beginning to bear fruit, he is confident that operations will return to a growth trajectory in 2026.

Ennostar stated today that in anticipation of the rapid development of AI and humanoid robots, Ennostar is focusing on the high-end U.S. market. Currently, products from several humanoid robot clients are in the small to medium-volume production stage, with related projects gradually moving from development and verification to trial production. To cope with the subsequent mass production wave, Ennostar has acquired factory space in central Taiwan to build the next wave of operational growth momentum. (Editor: Yang Lan-hsuan) 1150702

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