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Innolux Reports Mixed Financial Results Amid Anticipated Market Recovery

Despite a monthly decline, Innolux sees a 31% yearly revenue increase and predicts a stronger market in the latter half of 2024
Taiwan
i 3481.TW Mid and Small Cap 2000 Tech 350
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In January 2024, Innolux, a key player in the display panel industry, experienced a mixed financial performance, reporting a revenue of 16.5 billion yuan. This figure represents an 11.6% decrease from the previous month but a notable 31% increase compared to the same period in the previous year. The company’s shipment data reveals a month-on-month decline, with large-size shipments dropping by 6.2% to 8.27 million pieces and small to medium-size shipments falling 14.8% to 23.59 million pieces.

Despite these short-term fluctuations, Innolux remains optimistic about the future, attributing its positive outlook to several key factors. The company anticipates an economic recovery, boosted by events such as major sports events in the coming year, trends like the enlargement of TV panel sizes, and technological advancements in mobile phones and laptops, particularly those incorporating AI functionalities. Additionally, Innolux expects that easing negative influences, such as interest rate hikes and a stabilization in the panel industry, will contribute to an upswing in the market dynamics.

Innolux’s projections suggest a favorable shift in the business landscape in the second half of 2024, underpinned by an anticipated improvement in the panel market due to the aforementioned positive factors. This forward-looking statement reflects the company’s confidence in overcoming current challenges and achieving a stronger performance in the near future, highlighting its resilience and adaptive strategy in the face of market volatility.

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