SYNNEX 聯強國際 (SYNNEX Technology International Corporation) 2025Q2&H1 營運成果
Company Overview
- Company Name: 聯強國際股份有限公司 (SYNNEX Technology International Corporation)
- Presentation Title: 2025Q2&H1 營運成果 (2025 Q2 & H1 Operating Results)
- Date: 民國114年6月 (June, Republic of China 114 / 2025)
Disclaimer
- This presentation is provided by SYNNEX Technology International Corporation (hereinafter referred to as "the Company").
- Forward-looking statements may involve risks and uncertainties, which could result in actual results differing significantly.
- The Company does not undertake any obligation to update or revise the relevant content in real-time.
- The content, statements, or claims in this presentation are not an offer, solicitation, or recommendation to buy or sell any securities or financial products.
- The Company has exercised reasonable care to ensure that this presentation is free from any untrue or misleading information.
Products, Services & Technology
- Business Model: 供應鏈服務平台 (Supply Chain Services Platform)
- Brand / Supplier / Manufacture (Input side)
- SI / ISV / MSP / eRetailer / LFR / Shop (Output side)
- Service Offerings:
- Sales/PM Service:
- Solution Sell
- Management Service Platform
- Channel Enablement
- Channel Management
- Logistics Service:
- Home/On-Site Service
- 3rd-Party Logistics Service
- Consignment Service
- Fulfillment Service
- Finance Service:
- Project Financing
- XaaS / Subscription
- Leasing / Installment
- Credit / Payment
- Professional Service:
- Consulting Service
- Technical Service
- Installation Service
- Warranty Service
- Sales/PM Service:
Recent Performance and Results
4.1. 季度合併營收趨勢 (Quarterly Consolidated Revenue Trend)
- Unit: 新台幣億元 (NT$ Billion)
| Period | Q1 | Q2 | Q3 | Q4 | H1 | Year |
|---|---|---|---|---|---|---|
| Y21 | $867 | $966 | $1,016 | $1,239 | $1,833 | $4,088 |
| Y22 | $1,009 | $1,034 | $1,088 | $1,115 | $2,042 | $4,246 |
| Y23 | $886 | $949 | $982 | $1,142 | $1,835 | $3,960 |
| Y24 | $1,038 | $1,002 | $1,088 | $1,132 | $2,040 | $4,260 |
| Y25 | $914 | $933 | $1,847(-9%) | $1,847 |
- Y25Q1 Revenue: $914 (NT$ Billion), -12% YoY
- Y25Q2 Revenue: $933 (NT$ Billion), -7% YoY
- Y25H1 Revenue: $1,847 (NT$ Billion), -9% YoY
4.2. 區域別營收趨勢 (Revenue Trend by Region)
- Unit: 原幣數 (Original Currency)
| Region | Y25H1 YoY Change | Y25Q2 Revenue Share | Q1 vs Q2 Trend (QoQ %) | Currency |
|---|---|---|---|---|
| China | -2% | 25% | Q1: +6%, Q2: -9% | RMB$B |
| Australia&NZ | +4% | 15% | Q1: -0%, Q2: +9% | AUS$B |
| Indonesia | +7% | 9% | Q1: +10%, Q2: +4% | IDR$T |
| Taiwan | +9% | 13% | Q1: -5%, Q2: +23% | NT$B |
| Hong Kong | -23% | 3% | Q1: -27%, Q2: -18% | HKD$B |
| Semiconductor | -20% | 35% | Q1: -27%, Q2: -10% | NT$B |
4.3. 產品別營收占比 (Revenue Share by Product)
- Unit: 新台幣億元 (NT$ Billion)
Y25Q2 Revenue Share:
- Semiconductor: 35%
- Enterprise Solution: 31%
- Device & Consumer: 29%
- Mobile Device: 5%
Y25H1 Revenue Share:
- Semiconductor: 37%
- Enterprise Solution: 30%
- Device & Consumer: 28%
- Mobile Device: 5%
Revenue Performance by Product Category:
| Category | Y25Q2 Revenue | Y25Q2 YoY (%) | Y25Q2 YoY ($) | Y25H1 Revenue | Y25H1 YoY (%) | Y25H1 YoY ($) |
|---|---|---|---|---|---|---|
| Product Total | $964 | -6% | -$60 | $1,902 | -9% | -$183 |
| Enterprise Solution | $304 | -4% | -$13 | $573 | 2% | $10 |
| Device & Consumer | $280 | -3% | -$9 | $538 | -3% | -$18 |
| Mobile Device | $46 | 2% | $1 | $98 | -1% | -$1 |
| Semiconductor | $335 | -10% | -$39 | $693 | -20% | -$174 |
| Adjustment | -$31 | 41% | -$9 | -$55 | 21% | -$10 |
| Consolidated | $933 | -7% | -$69 | $1,847 | -9% | -$192 |
4.4. 產品別營收趨勢 (Revenue Trend by Product)
- Unit: 新台幣億元 (NT$ Billion)
| Product Category | Y25H1 YoY Change | Q1 vs Q2 Trend (QoQ %) |
|---|---|---|
| Enterprise Solution | +2% | Q1: +9%, Q2: -4% |
| Device & Consumer | -3% | Q1: -3%, Q2: -3% |
| Mobile Device | -1% | Q1: -2%, Q2: +2% |
| Semiconductor | -20% | Q1: -27%, Q2: -10% |
4.5. 聯強集團業務概況 (SYNNEX Group Business Overview)
- Y25年累 新台幣4,143E / YoY +3% (Y25 Year-to-date Consolidated Revenue: NT$ 4,143 Billion / YoY +3%)
- Business Segments (Y25H1 Data):
- Enterprise Solution:
- $1,304E
- Y25H1: +11%
- Share: 31%
- Device & Consumer:
- $1,273E
- Y25H1: +2%
- Share: 30%
- Mobile Device:
- $934E
- Y25H1: +20%
- Share: 22%
- Semicon & IC Module:
- $693E
- Y25H1: -20%
- Share: 17%
- Enterprise Solution:
4.6. 營運資金指標 (Operating Capital Indicators)
- Unit: 新台幣億元 (NT$ Billion)
| Metric | Y23Q1 | Y23Q2 | Y23Q3 | Y23Q4 | Y24Q1 | Y24Q2 | Y24Q3 | Y24Q4 | Y25Q1 | Y25Q2 |
|---|---|---|---|---|---|---|---|---|---|---|
| WC | 908 | 899 | 847 | 1,043 | 830 | 853 | 796 | 892 | 759 | 717 |
| AR | 706 | 738 | 728 | 798 | 734 | 726 | 776 | 776 | 707 | 670 |
| Inventories | 456 | 455 | 462 | 531 | 400 | 452 | 420 | 477 | 391 | 380 |
| AP(net) | 254 | 294 | 343 | 287 | 304 | 325 | 400 | 361 | 339 | 333 |
| Net days | 104 | 85 | 83 | 75 | 82 | 77 | 70 | 69 | 85 | 72 |
| AR days | 76 | 68 | 70 | 61 | 67 | 65 | 63 | 63 | 74 | 66 |
| INV days | 56 | 46 | 45 | 43 | 41 | 40 | 37 | 36 | 44 | 38 |
| AP days | 28 | 29 | 32 | 29 | 26 | 28 | 30 | 30 | 34 | 32 |
4.7. 綜合損益表 – Y25Q2 & H1 (Consolidated Income Statement – Y25Q2 & H1)
- Unit: 新台幣百萬元 (NT$ Million)
| Item | Y24Q2 | Y25Q2 | YOY (Q2) | Y24H1 | Y25H1 | YOY (H1) |
|---|---|---|---|---|---|---|
| Revenue | $100,209 | $93,319 | -7% | $203,960 | $184,717 | -9% |
| Gross profit | 4,207 (4.20%) | 4,026 (4.31%) | -4% | 8,626 (4.23%) | 8,017 (4.34%) | -7% |
| Operating expenses | (2,202) (2.20%) | (2,659) (2.85%) | 21% | (4,287) (2.10%) | (4,766) (2.58%) | 11% |
| Operating income | 2,004 (2.00%) | 1,367 (1.46%) | -32% | 4,339 (2.13%) | 3,251 (1.76%) | -25% |
| Others income/expense | 526 | 597 | 939 | 1,135 | ||
| JV Business Income * | 347 | 616 | 78% | 768 | 1,122 | 46% |
| Net interest expenses | (122) (0.12%) | (218) (0.23%) | 80% | (446) (0.22%) | (461) (0.25%) | 3% |
| Others | 301 | 199 | 617 | 474 | ||
| Pre-tax income & minority interest | 2,531 (2.53%) | 1,963 (2.10%) | -22% | 5,278 (2.59%) | 4,386 (2.37%) | -17% |
| Income tax | (588) | (542) | (1,028) | (1,010) | ||
| Minority interest (income) loss | (117) | (107) | (227) | (234) | ||
| Net income | $1,826 (1.82%) | $1,315 (1.41%) | -28% | $4,022 (1.97%) | $3,142 (1.70%) | -22% |
| EPS (NT$) | $1.09 | $0.79 | $2.41 | $1.88 |
4.8. 綜合損益表 – Y25Q2 (擬制) (Consolidated Income Statement – Y25Q2 (Pro Forma))
- Unit: 新台幣百萬元 (NT$ Million)
| Item | Y24Q2 | Y25Q2 | YOY (Q2) | Y25Q2_擬制 (Pro Forma) | YOY (Pro Forma) |
|---|---|---|---|---|---|
| Revenue | $100,209 | $93,319 | -7% | $93,319 | -7% |
| Gross profit | 4,207 (4.20%) | 4,026 (4.31%) | -4% | 4,026 (4.31%) | -4% |
| Operating expenses | (2,202) (2.20%) | (2,659) (2.85%) | 21% | (1,839) (1.97%) | -16% |
| Operating income | 2,004 (2.00%) | 1,367 (1.46%) | -32% | 2,187 (2.34%) | 9% |
| Others income/expense | 526 | 597 | 597 | ||
| JV Business Income * | 347 | 616 | 78% | 616 | 78% |
| Net interest expenses | (122) (0.12%) | (218) (0.23%) | 80% | (218) (0.23%) | 80% |
| Others | 301 | 199 | 199 | ||
| Pre-tax income & minority interest | 2,531 (2.53%) | 1,963 (2.10%) | -22% | 2,784 (2.98%) | 10% |
| Income tax | (588) | (542) | (542) | ||
| Minority interest (income) loss | (117) | (107) | (107) | ||
| Net income | $1,826 (1.82%) | $1,315 (1.41%) | -28% | $2,135 (2.29%) | 17% |
| EPS (NT$) | $1.09 | $0.79 | $1.28 |
4.9. 綜合損益表 – Y25H1 (擬制) (Consolidated Income Statement – Y25H1 (Pro Forma))
- Unit: 新台幣百萬元 (NT$ Million)
| Item | Y24H1 | Y25H1 | YOY (H1) | Y25H1_擬制 (Pro Forma) | YOY (Pro Forma) |
|---|---|---|---|---|---|
| Revenue | $203,960 | $184,717 | -9% | $184,717 | -9% |
| Gross profit | 8,626 (4.23%) | 8,017 (4.34%) | -7% | 8,017 (4.34%) | -7% |
| Operating expenses | (4,287) (2.10%) | (4,766) (2.58%) | 11% | (3,946) (2.14%) | -8% |
| Operating income | 4,339 (2.13%) | 3,251 (1.76%) | -25% | 4,071 (2.20%) | -6% |
| Others income/expense | 939 | 1,135 | 1,135 | ||
| JV Business Income * | 768 | 1,122 | 46% | 1,122 | 46% |
| Net interest expenses | (446) (0.22%) | (461) (0.25%) | 3% | (461) (0.25%) | 3% |
| Others | 617 | 474 | 474 | ||
| Pre-tax income & minority interest | 5,278 (2.59%) | 4,386 (2.37%) | -17% | 5,206 (2.82%) | -1% |
| Income tax | (1,028) | (1,010) | (1,010) | ||
| Minority interest (income) loss | (227) | (234) | (234) | ||
| Net income | $4,022 (1.97%) | $3,142 (1.70%) | -22% | $3,962 (2.14%) | -2% |
| EPS (NT$) | $2.41 | $1.88 | $2.37 |
4.10. 財務結構指標 (Financial Structure Indicators)
- Unit: 新台幣億元 (NT$ Billion)
Assets Composition:
- Y25Q2 Total Assets: 1,967
- Cash: 153
- AR: 670
- Inventories: 380
- LT Investments: 187
- FA & Others: 577
- Y25Q1 Total Assets: 2,066
- Cash: 178
- AR: 707
- Inventories: 391
- LT Investments: 193
- FA & Others: 597
- Y24Q2 Total Assets: 2,189
- Cash: 230
- AR: 726
- Inventories: 452
- LT Investments: 183
- FA & Others: 598
Liabilities & Equity Composition:
- Y25Q2 Total Liabilities & Equity: 1,967
- Int. Bearing Debt: 696
- AP: 371
- Other Debt: 230
- Equity: 669
- Y25Q1 Total Liabilities & Equity: 2,066
- Int. Bearing Debt: 683
- AP: 371
- Other Debt: 243
- Equity: 769
- Y24Q2 Total Liabilities & Equity: 2,189
- Int. Bearing Debt: 797
- AP: 382
- Other Debt: 251
- Equity: 760
Key Financial Ratios:
| Metric | Y25Q2 | Y25Q1 | Y24Q2 |
|---|---|---|---|
| Debt Ratio | 66% | 63% | 65% |
| Net Int. bearing Debt / Equity | 69% | 53% | 63% |
| Net Worth Per Share (NT$) | 38.4 | 44.3 | 44.0 |
| Free Cash Flow (NT$E) | +51 | +118 | -46 |
4.11. 合併資產負債表 (Consolidated Balance Sheet)
- Unit: 新台幣百萬元 (NT$ Million)
| Item / Year | Y25Q2 | Y25Q1 | Y24Q2 |
|---|---|---|---|
| Assets | |||
| Cash and cash equivalents | $15,326 | $17,753 | $22,987 |
| Financial Assets (listed stocks, financial products...etc.) | 27,317 | 28,177 | 29,050 |
| Notes and accounts receivables - net | 66,958 | 70,714 | 72,638 |
| Inventories - net | 38,036 | 39,068 | 45,171 |
| Others | 10,544 | 10,960 | 13,495 |
| Current Assets | 158,181 | 166,673 | 183,341 |
| Long-term Investments | 18,704 | 19,370 | 18,347 |
| Fixed Assets - net | 15,639 | 16,548 | 13,366 |
| Other Assets | 4,155 | 3,985 | 3,870 |
| Total Assets | $196,679 | $206,576 | $218,925 |
| Liabilities & Stockholders' Equity | |||
| Short-term loans | $53,022 | $56,479 | $64,523 |
| Notes and accounts payables | 37,097 | 37,091 | 38,229 |
| Others | 15,592 | 16,864 | 17,516 |
| Current Liabilities | 105,712 | 110,434 | 120,268 |
| Other liabilities | 7,428 | 7,427 | 7,539 |
| Total Liabilities | 129,740 | 129,661 | 142,958 |
| Common stock | 16,679 | 16,679 | 16,679 |
| Capital reserve | 13,482 | 13,482 | 13,533 |
| Retained earnings | 50,190 | 48,889 | 48,506 |
| Others | (16,269) | (5,193) | (5,261) |
| Minority interest | 2,857 | 3,057 | 2,509 |
| Total Stockholders' Equity | 66,939 | 76,915 | 75,967 |
| Total Liabilities and Stockholders' Equity | $196,679 | $206,576 | $218,925 |
4.12. 獲利能力趨勢 (Profitability Trend)
- Unit: 新台幣億元 / % (NT$ Billion / %)
GP (Gross Profit) (NT$E):
- Trend: Generally increasing from 2009 to 2024, with some fluctuations.
- 25H1: 80 (NT$ Billion)
- GP % Trend: Ranged from 3.35% to 4.52%.
- 25H1 GP%: 4.34%
OPEX (Operating Expenses) (NT$E):
- Trend: Generally increasing from 2009 to 2024.
- 25H1: 48 (NT$ Billion)
- OPEX % Trend: Ranged from 2.02% to 2.58%.
- 25H1 OPEX%: 2.14%
OPI (Operating Income) (NT$E):
- Trend: Generally increasing from 2009 to 2024.
- 25H1: 33 (NT$ Billion)
- OPI % Trend: Ranged from 1.17% to 2.35%.
- 25H1 OPI%: 1.76%
Key Profitability Metrics:
- OPI/GP比率 (OPI/GP Ratio):
- 10年平均 (10-year average): 44%
- Y25H1: 41%
- 營業毛利 (Gross Profit):
- 10年平均 (10-year average): 4.06%
- Y25H1: 4.34%
- 營業費用 (Operating Expenses):
- 10年平均 (10-year average): 2.25%
- Y25H1: 2.58%
- 營業淨利 (Operating Income):
- 10年平均 (10-year average): 1.81%
- Y25H1: 1.76%
Strategic Initiatives and Plans (Sustainability)
5.1. 永續聯強 (Sustainable SYNNEX)
- Sustainalytics ESG Risk:
- <20: Low Risk
- Score Trend: Dec-19 (13.0), Sep-20 (12.5), Apr-21 (12.4), Feb-22 (11.5), Sep-22 (11.2), Feb-23 (10.7), Jul-24 (10.7), Mar-25 (10.7)
- Source: ESG IR platform
- Slogan: Sustainable SYNNEX Cherish the Earth
- ESG Report URL: http://www.synnex.com.tw/en/esg-report
Environment:
- 潔淨科技 (Clean Technology):
- Actively collaborates with supply chain partners to promote clean technology projects in various industry applications.
- Accumulated 1,249 successful cases.
- 雙ISO認證 (Dual ISO Certification):
- Continuously achieves ISO14001 Environmental Management System and ISO14064 Greenhouse Gas Verification.
- 營運數位化 (Operational Digitalization):
- Continuously promotes digitalization and paperless policies.
- In 2023, saved 1.586 million sheets of paper, reducing carbon emissions by approximately 9,771 KG CO2e.
- 減碳成果 (Carbon Reduction Achievements):
- Two-year carbon reduction exceeded 12% (based on 2021 baseline year), demonstrating commitment to environmental sustainability.
Social:
- 性別平等 (Gender Equality):
- In 2023, the proportion of female managers was 43%, higher than the industry average of 29%.
- 員工無息貸款 (Interest-Free Employee Loans):
- Provides an environment where employees can work without worries.
- Established an interest-free loan system, assisting over 1,300 individuals with loans exceeding NT$400 million.
- 服務創新 (Service Innovation):
- SYNNEX APP has over 6,363 external service users.
- 人才培育 (Talent Development):
- SYNNEX Foundation donates books to universities and colleges and co-organizes the "Youth Show Creative Awards."
Governance:
- 經營績效 (Operational Performance):
- In 2023, gross profit margin was 4.44%, and operating net profit margin was 2.18%, reaching a near 20-year high.
- 資安管理 (Information Security Management):
- Emphasizes information security and continuously passes ISO 27001 third-party verification.
- 榮耀與肯定 (Honors and Recognition):
- Continuously awarded "Taiwan's Best International Brand" for 21 consecutive years.
- 客戶滿意度 (Customer Satisfaction):
- Average satisfaction score for home service was 4.9/5.
5.2. 聯強溫室氣體盤查計劃 (SYNNEX GHG Inventory Plan)
- Carbon Emissions (Same Boundary):
- 11% (Y23 vs. Y22)
- 15% (Y24 vs. Y23)
- Compliance Timeline (法遵時程):
- 2022: 母公司盤查 (Parent Company Inventory)
- 2023: 母公司查證 (Parent Company Verification)
- 2024: 子公司盤查 (Subsidiary Inventory)
- 2025: 子公司盤查 (Subsidiary Inventory), 揭露集團減碳目標 (Disclose Group Carbon Reduction Targets)
- 2026: 子公司查證 (Subsidiary Verification)
- 2027: 子公司查證 (Subsidiary Verification)
- Parent Company Plan (母公司計劃):
- 母公司2據點建置盤查 (Parent company 2 sites established inventory)
- 聯強台灣完成100%盤查與查證 (SYNNEX Taiwan completed 100% inventory and verification)
- 每年盤查 + 查證 (Annual Inventory + Verification)
- ISO (Q1完成) (ISO (Q1 completed))
- Subsidiary Plan (子公司計劃):
- 子公司盤查啟動 (Subsidiary inventory initiated)
- 每年盤查 + 2027完成查證 (Annual Inventory + 2027 completed verification)
- *完成子公司盤查 (Completed subsidiary inventory)
- *含海外子公司查證 (Including overseas subsidiary verification)
- *訂定集團減碳目標 (Set Group Carbon Reduction Targets)
5.3. 聯強集團公司盤查結果 (SYNNEX Group Company Inventory Results)
- 2024年 聯強集團溫室氣體盤查 (2024 SYNNEX Group Greenhouse Gas Inventory):
- 2024年度排放量: 約7,109公噸二氧化碳當量CO2e (範疇1+範疇2) (Approx. 7,109 metric tons of CO2e (Scope 1 + Scope 2))
- 對比2023年: ↓8% (Compared to 2023: ↓8%)
| Item | 排放量 (tonCO2e) | 占範疇1+2百分比 |
|---|---|---|
| 範疇一: 直接溫室氣體排放 | 2,341 | 32.94% |
| 範疇二: 間接溫室氣體排放 | 4,768 | 67.06% |
| 小計 | 7,109 | 100% |
- 聯強集團氣候目標 (SYNNEX Group Climate Goals):
- 盤查基準年設定為2023年。 (Inventory baseline year set to 2023.)
- 近期氣候目標設定: 控制升溫低於2℃。 (Near-term climate target: Control warming below 2℃.)
- 目標到2030年, 範疇一和範疇二碳排放量對比2023年基準年減少25%。 (Target by 2030: Reduce Scope 1 and Scope 2 carbon emissions by 25% compared to the 2023 baseline year.)
Contact Information
- 聯強集團 (SYNNEX Group): http://www.synnex-grp.com/en
- 永續聯強 (Sustainable SYNNEX): http://www.synnex-grp.com/en/esg-report