Ubiqconn Technology reported non-audited revenue of NT$135,453 thousand for October 2024, marking a 66% decline compared to the same period last year. Compared to the previous month, this month’s revenue increased by approximately 23%, bringing cumulative revenue for the first ten months of 2024 to NT$1,673,661 thousand, a year-over-year decrease of 48%. This decline in revenue is primarily attributed to weak demand from maritime customers and a gap in orders for customized value-added service products, mainly voting machines. However, high-margin brand products saw robust growth of approximately 55% year-over-year, reaching NT$247 million. The company’s other key focus, satellite products, achieved shipments roughly on par with the previous year, totaling approximately NT$204 million by October.
With the increase in high-margin product shipments, Ubiqconn anticipates an improvement in its overall gross margin. Revenue distribution across Ubiqconn’s four major sectors for the first ten months of 2024 was as follows: maritime accounted for 61%, brands for 15%, satellite communications for 12%, and customized value-added service products for 12%.