Wintech, WPG Holdings: Annual Performance Breaks Records!

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WPG Holdings Achieves Both Year-on-Year and Month-on-Month Growth, While Wintech Records a Month-on-Month Decline of Over 10%

WPG Holdings

Driven by the rapid adoption of generative AI applications, AI servers, traditional servers, power supplies, network communication systems, and related electronic components have entered a new upgrade cycle. In December 2025, WPG Holdings achieved revenue of NT$933.4 billion, setting a record high for the same period in previous years. This represents a month-on-month increase of 18.7% and a year-on-year increase of 11.7%.

Boosted by strong demand for AI and high-performance computing, WPG Holdings reported fourth-quarter revenue of NT$2,553.7 billion, up 4.4% quarter-on-quarter and 10.2% year-on-year. Full-year revenue reached NT$9,991.2 billion, a year-on-year increase of 13.4%. Both quarterly and annual revenues maintained double-digit growth, reflecting the company’s continued benefits from its product portfolio and market positioning aligned with industry trends.

Wintech

In December 2025, Wintech’s self-disclosed consolidated revenue was approximately NT$986.2 billion, representing a year-on-year increase of about 2.9%, but a month-on-month decrease of approximately 15.4%.

Wintech

Despite a month-on-month revenue decline of over 10% in December, its performance in the fourth quarter of 2025 still exceeded expectations, setting a new single-quarter record. The self-consolidated revenue for Q4 2025 reached approximately NT$342.1 billion, marking a 4% increase quarter-on-quarter and a 30.6% surge year-on-year. This surpassed the high-end revenue forecast of NT$320 billion for the quarter, representing the second consecutive quarter of record-breaking results. Previously, the company had anticipated quarterly fluctuations due to the traditional off-season for consumer electronics, PCs, and mobile devices, combined with adjustments in procurement pacing by some data center clients.

For the full year of 2025, Wintech's self-consolidated revenue amounted to approximately NT$1.18 trillion, reflecting a year-on-year growth of about 22.8%.

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Full Year 2025: Wintech Surges 22.8%, WPG Holdings Grows 13.4%

WPG Holdings reported consolidated revenue of NT$255.37 billion for the fourth quarter of 2025, reaching the highest level in the past five quarters. This represents a quarter-on-quarter increase of 4.4% and a year-on-year growth of 10.2%. For the full year of 2025, the company achieved a record consolidated revenue of NT$999.12 billion, reflecting a year-on-year increase of 13.4%.

                                                                           Summary of WPG Holdings' monthly revenue in 2025; Source: Yahoo! Stocks

According to a Yahoo report, although the consumer electronics sector entered its traditional off-season in the fourth quarter of last year, WPG Holdings continued to benefit from the rapid adoption of generative AI applications. Robust shipments of AI server and traditional server-related components drove the company’s quarterly revenue performance above market expectations. The proportion of computer-related product shipments driven by AI and data center demand has now exceeded 40%, reaching 45%, with core chipsets and memory products showing the fastest growth.

Last year, WPG Holdings approved a group restructuring plan, under which its subsidiaries Yusin and Powin were converted into wholly-owned subsidiaries of WPG-owned company Reign through share exchange. This adjustment positions Reign and World Peace as the dual-core engines for the company’s semiconductor component distribution business.

In addition to its distribution operations, WPG Holdings has been actively expanding its Logistics as a Service (LaaS) business in recent years. Industry observers believe this will be a key driver for future profit growth, potentially outpacing revenue expansion. Originally established to serve internal needs, WPG’s LaaS business has gradually extended its services externally in response to supply chain demands from upstream and downstream partners.

WPG Holdings has successively integrated the warehousing departments of its logistics units originally affiliated to regions including Taiwan China, mainland China and Hong Kong China into the umbrella of GCS Intelligent Solutions, making it the flagship company for the group’s smart warehousing services.

Earlier at an earnings conference, WPG’s Chief Financial Officer Yuan Hsing-wen stated that WPG is no longer merely a chip distribution company relying on a buy-and-sell model, but has started to step into the service industry. Logistics services are only the first step. As service revenue grows, this segment boasts a better gross profit margin than the distribution business, which will help boost the company’s profitability.

Regarding future projections, WPG indicated at its Q3 earnings conference last November that it is optimistic about the prospects of the distribution industry going forward. WPG’s Deputy General Manager Lin Chun-chieh cited the latest growth forecasts for the global semiconductor market this year and next released by overseas research institutions: the projected growth rate for 2025 has been revised upward from the original 15.7% to 17.8%, while the growth forecast for next year has also been adjusted upward accordingly. Among the driving forces, AI is the primary one. It is estimated that by 2029, AI-related chips will account for approximately 40% of the entire semiconductor market.

WT Microelectronics delivered a robust performance throughout 2025, with consolidated revenue exceeding NT$1 trillion for the first time, hitting a record high in the company’s history.

For the full year of 2025, WT Microelectronics posted consolidated revenue of approximately NT$1.18 trillion, representing a year-on-year increase of around 22.8% and setting a new annual revenue record.

                                                                                WT Microelectronics: 2025 Monthly Revenue Summary

The proportion of WT Microelectronics' businesses related to data centers and servers has been on a steady rise in recent years. The surging demand for high-end semiconductors from AI-driven data centers and communication devices has emerged as the primary growth driver for the company in 2025.

                                                                           Source: Wen Ye's Q3 2025 Earnings Conference

In addition, the acquisition of Future Electronics has significantly strengthened WT Microelectronics’ market layout in Europe and the United States. Coupled with the recovering demand for industrial and automotive semiconductors in these regions and a relatively healthy inventory level, it has been conducive to the recovery of shipment rhythms.

In July 2025, WT Microelectronics also announced the deepening of its strategic cooperation with Nichimen Electronics, a passive component distributor. The company’s shareholding ratio in Nichimen Electronics increased from the original 14.58% to approximately 36%, expanding its business scope from active components to passive components and continuously extending its market footprint.

At the institutional investor briefing held at the end of 2025, WT Microelectronics mentioned that the first half of 2025 saw a challenging market environment affected by uncertain factors such as tariffs and exchange rates. However, the situation gradually clarified in the second half of the year. Driven by the sustained surge in demand for AI-related semiconductors, both the company’s revenue and profits achieved substantial growth.

Looking ahead to 2026, WT Microelectronics is optimistic that the demand for high-performance semiconductors driven by AI servers will remain strong, and the data center construction plans of cloud service providers will not slow down, with the momentum of related investments expected to continue. Meanwhile, the automotive electronics and industrial markets are recovering steadily, and the demand for consumer electronics is expected to improve. Institutional investors anticipate that WT Microelectronics’ operations will maintain growth in the first half of 2026.