J P M O R G A N Asia Pacific Equity Research 09 June 2026 Delta Electronics, Inc. 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. The fo ...