CNergenz

[winston]

not vested

CNergenz – Reaching an inflection point.

While this clear winner from the US-China trade diversion was not spared from the industry slowdown (orders being pushed out), the group sees signs of recovery towards 2H23 from the EV and high-performance computing segments alongside a recovery in the capex cycle.

New prospects from its smart factory solution segment are picking up steam on different stages of discussion which could spearhead growth from 2024 onwards.

Despite a soft 1H, the group expects a low-teens growth yoy on a net basis in 2023 even with the absence of contribution from its smart factory solution segment.

Source: UOBKH