Ubiqconn Technology has reported non-audited revenue of NT$88,027 thousand for July 2024, reflecting a decline of 76.62% compared to the same period last year. Cumulative revenue from January to July 2024 amounted to NT$1,177,263 thousand, marking a decrease of 39.74% from the previous year. The company explained that this year's decline in revenue is primarily due to reduced demand from major maritime customers and the absence of voting machine orders. However, the revenue from high-margin brands and satellite products increased by 70.50% and 43.04%, respectively, compared to last year, as expected.
The revenue distribution across the four major sectors for the first seven months of this year was as follows: maritime accounted for 56.91%, brands for 17.52%, satellite communications for 12.94%, and customized value-added service products for 12.64%.
The company noted that the maritime sector experienced a downturn in demand this year due to a cautious outlook in the post-pandemic recreational maritime market. However, demand is expected to rebound next year as the company adjusts its product positioning. In addition to the demand for Global Maritime Distress Safety Systems (GMDSS), the company plans to expand its focus from recreational fishing boats to yachts and commercial vessels. The company remains optimistic about the prospects in the brand and satellite industries. Additionally, Ubiqconn Technology is actively working on several projects in the automotive applications and government solutions sectors, with potential results anticipated by the end of this year or next year, paving the way for a return to growth.