普通外文研报

J.P. Morgan Taiwan FTM 10 Jun 26 Taiwan Economics; Delta Electronics, Inc. and More

发布日期: 2026-06-09研究机构: JPMorgan报告页数: 5原文语言: 英语证据页码: 1

研报英文原文证据摘录

Asia Pacific Equity Research

Taiwan First to Market 10 June 2026

Top Stories

Taiwan: Broad-based strength in May exports (Tingting Ge)

Upgrade 2Q GDP growth forecast

Exports rebounded sharply in May, more than reversing April’s dip, with momentum broadening from tech into non-tech.

Real exports snapped back strongly even as export price momentum remained elevated, pointing to upside for near-term IP.

Delta Electronics, Inc. (Albert Hung/Gokul Hariharan) (2308 TT, OW)

May sales tracking behind expectations, a bigger rebound in 3Q26E; OW

Delta’s May revenues came in at NT$59bn (flattish MoM and up 44% YoY), tracking behind our and market expectations.

Although management expects a bigger uptick in June sales, 2Q26 revenues are still likely to miss our expectations of high-

teens % QoQ growth. We attribute the softer-than-expected 2Q to supply constraints and anticipate a stronger 3Q26.

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