On November 12, Ubiqconn Technology’s Board of Directors resolved the financial statements for the third quarter of 2024. For the first three quarters of 2024, the company reported revenue of NT$1.54 billion, a 46% decrease compared to the same period last year, with a gross margin of 22%, slightly up by 1 percent from last year. The cumulative net loss for the first three quarters amounted to NT$41.28 million, resulting in an EPS of -NT$0.51.
Ubiqconn stated that the third-quarter loss was primarily due to declining revenue. Quarterly expenses were controlled at levels comparable to the same period last year. However, due to the addition of a European subsidiary, increased investment in talents and new projects, and mid-year stock listing costs, expenses for the first three quarters rose by 31% year-over-year, resulting in an operational loss. The company noted that the newly established subsidiary and various projects are expected to begin yielding benefits starting next year, with demand for maritime products gradually recovering, potentially enabling Ubiqconn to return to profitability in the coming year.