Primax Electronics Ltd. (TWSE: 4915) today announced its consolidated revenue for May was NT$5.53 billion, which is a 9.6% month-over-month (MoM) increase. For January through May, Primax’s cumulative consolidated revenue was NT$25.26 billion, a 18.9% year-over-year (YoY) decrease.

Primax has been actively improving operational performance in recent years, continuously optimizing its product mix and expanding into high value-added products. Primax expects its gross margin to see YoY improvements in 2023, thanks to a greater contribution from B2B/AIoT related products, and will further strengthen profitability growth. Moreover, in preparation for the uncertain outlook, Primax has taken precautionary measures to aggressively manage its inventory, resulting a decrease in inventory levels and turnover day, which shows the efficiency in management.

As AI technology continues to evolve, Primax actively invest in Automotive and AIoT innovation applications. In Auto/industrial AIoT segment, AI surveillance (public safety/driving safety/home safety), auto electronics (ADAS/AVAS), AR/VR, B2B cameras, unmanned stores, drones and other new applications are the growth momentum in 2023. With Primax’s strategy focus on high-margin market, both net sales and profits in following quarters are expected to improve QoQ this year, further enhancing return on shareholder’s equity.