Shengda Technology Leads the Low Earth Orbit Satellite Business, Achieving Record Profits in November

Communications satellite component supplier **Shengda Technology (3491)** announced its latest consolidated profit data, showing continued growth momentum. In November, the company achieved a monthly revenue of NT$285 million, a 48% increase compared to the same period last year, setting a new company record; net profit for the month was NT$86 million, with earnings per share of NT$1.3, representing a 13% increase for the year.

Compared to the third quarter, Shengda Technology’s operational performance has clearly improved. The third quarter revenue was NT$484 million, with a net profit of NT$88 million. The November monthly revenue has approached the third quarter’s level, reflecting a strong development trajectory into the fourth quarter. Cumulative net profit for the first three quarters of this year reached NT$303 million, with earnings per share of NT$4.6. Although there are differences in the year-over-year base compared to June’s revenue period, the company still maintains a historically high level for the same period.

## Low Earth Orbit Satellite Orders Booming, Business Contribution Surpasses 60%

The core driver of Shengda Technology’s growth is the robust demand in the low earth orbit satellite market. The company has been cultivating in the satellite application field for many years and has established a complete product portfolio, with satellite components accounting for about 65% and ground station equipment making up 35%. In satellite constellation applications, the company’s products have successfully entered satellite bodies, covering key modules such as communication payloads, telemetry, tracking and command systems (TT&C), inter-satellite links (ISL), and direct-to-device (D2C). Among these, TT&C and ISL products have started delivery in the fourth quarter and are entering a phase of monthly volume increases.

The low earth orbit satellite business has become the main revenue source for the company. In September, this segment contributed approximately 58% of revenue; in October, it rose to nearly 70%; and in November, it further increased to 64.5%. From the beginning of the year to the first 11 months, the cumulative revenue from low earth orbit satellites reached about NT$1.2 billion, far exceeding last year’s total of NT$1 billion, demonstrating strong growth momentum. Industry insiders generally expect that the delivery volume in the last month of the fourth quarter will surpass the previous two months, significantly boosting the segment’s revenue for Q4 compared to the first three quarters.

The company’s existing low earth orbit satellite orders on hand have already reached NT$1 billion, maintaining an optimistic outlook for business from Q4 through 2026. Internal forecasts indicate that by 2026, revenue contribution from the low earth orbit satellite segment will at least double the current level, with considerable growth potential.

## Customer Base Continues to Expand, Emerging Application Fields Show Promising Prospects

In addition to its two main low earth orbit satellite operators, Shengda Technology is actively developing the small and medium satellite operator market. Currently, about five potential partners with high cooperation prospects have been identified. One has already signed a formal contract to become a customer and plans to launch satellite missions next year; another is expected to start supplying products and enter the sample verification stage next year, which will help establish a solid medium- to long-term revenue foundation.

In response to new industry development trends, Shengda Technology is also closely monitoring cutting-edge application fields such as space AI centers and space solar power, and has initiated technical collaborations with several startups to seize future business opportunities.

## Stock Price Rises to NT$628, Investor Confidence Soars

Benefiting from solid financial performance and optimistic future prospects, market enthusiasm has significantly increased. Shengda Technology’s stock price has recently hit new highs repeatedly. After breaking the NT$600 mark for the first time last Friday (12th), it continued to rise today, closing at NT$628. The company’s cumulative revenue for the first 11 months reached NT$2.132 billion, a 1.34% increase year-over-year, setting a new record for the same period in history.