系统电子

Sysgration Ltd. (5309) announced consolidated revenue of approximately NT$294 million for June 2026, down 4.53% MoM but up 4.19% YoY. Cumulative revenue for the first half of 2026 reached approximately NT$1.77 billion, representing a 3.77% YoY increase and marking a record high for the same period in the company’s history. Although June revenue edged down slightly from the previous month, overall performance remained at a high level. Growth was mainly driven by volume shipments of IPC (industrial PC) and drone products, with revenue doubling from the same period last year. This reflects rising demand in the drone market, which has supported the optimization of the company’s product mix and significantly increased the contribution from high-value-added product applications.

In June, IPC and drone products accounted for nearly 40% of revenue, standing roughly on par with TPMS (tire pressure monitoring systems). The remainder came from power and energy system products, underscoring the company’s three growth engines— TPMS, IPC and drones, plus power and energy systems — as key drivers of both operating resilience and growth momentum. Among these businesses, the drone segment benefited from steady order pull-in by U.S. customers, with shipment scale continuing to expand. Demand momentum is expected to remain highly sustainable.

Often regarded as the “brain” of a drone, the flight control system integrates flight attitude, sensor signals, communication commands, mission control and safety management. It directly affects a drone’s flight stability, response speed and mission reliability. In applications such as public safety, inspection, surveying and mapping, and special missions, customers place greater emphasis on stability, weather resistance, long-duration operation capability, and customized integration of flight control systems. These requirements make Ground Control Station (GCS) and industrial PC platforms key segments with higher technical barriers within the drone supply chain, positioning them as important growth drivers for Sysgration going forward.

The company stated that it has long been committed to developing IPC and AI edge computing design and manufacturing capabilities, with expertise spanning ruggedized hardware design, customized motherboard development, power management, communication module integration, and high-reliability mass production. This enables Sysgration to extend its IPC technologies into drone flight control systems, ground control systems, and edge computing modules. As drone applications increasingly integrate image recognition, real-time data processing, AI edge computing, and mission-oriented control, Sysgration is further extending its AI edge computing technologies on the back of years of ODM capabilities on IPC and drones. These capabilities have become an important foundation for the core technologies of drone flight control systems, while also helping the company establish differentiated advantages from its peers.

Institutional investors noted that Sysgration’s IPC and drone products generated nearly NT$800 million in revenue last year, with growth this year expected to reach up to 50%. As drone products continue to scale, GCS (ground control station) shipments ramp up in the second half of the year, and BBU (battery backup unit) products gradually enter mass production, the company’s three growth engines are expected to gain further traction, making its operating performance in the second half worth watching.

Unit: NT$ million;