Taiwanese power supply maker Chicony Power Technology saw August revenue decline both from the previous month and from a year earlier — bad news in the short term, though new orders for AI server and satellite power supplies could support the outlook ahead.

• Chicony Power posted August revenue of about NT$2.47 billion, down 2.5% month-on-month and 19.7% year-on-year. Cumulative revenue for the first eight months of this year was also down roughly 10% year-on-year.
• The main reason was weaker shipments of notebook power supplies, as severe memory shortages at customers left pull-in momentum below expectations.
• Multiple new products for AI server and conventional server power supplies have entered the sampling and testing stage, with order demand continuing to heat up.
• Demand for satellite communications power supplies is strong, with major customers adding to their orders, while power supplies for vehicle-mounted and airborne antennas have also picked up markedly.
• The company has qualified as a main supplier of power supplies for a new generation of home satellite receivers, with volume production in the fourth quarter and order volumes estimated to double from the third quarter.

Outlook: Higher satellite power supply volumes in the fourth quarter, combined with the gradual adoption of AI server power supplies by customers, could allow revenue to stop falling and rebound, but memory shortages remain a variable.