Winning RFID Achieves Record Q2 Revenue of Over NT$500 Million, Profit Outlook Bright with Stronger H2 Operations

Wireless radio frequency (RFID) solution provider Winning RFID (6417-TW) is fully realizing synergies from its relocation to a new facility, supported by a rebound in medical application demand. The company has achieved consecutive quarterly revenue records in Q4 2025 and Q1 2026. In June 2026, monthly revenue reached NT$169 million, the second-highest in history, driving Q2 revenue to a record NT$506 million—marking the first time the company has surpassed the NT$500 million threshold in a single quarter.

Winning RFID reported June 2026 revenue of NT$169 million, up 2.76% month-on-month and 26.62% year-on-year, the second-highest monthly figure on record. Second-quarter revenue reached NT$506 million, a sequential increase of 18.36% and a year-on-year growth of 23.97%, achieving a third consecutive quarterly record. First-half revenue totaled NT$934 million, up 20.12% year-on-year.

The company’s Q2 2026 performance marks a new milestone, with three consecutive quarters of record-breaking results. With the launch of its new BLE TAG product for Ambient IoT, shipments are expected to grow exponentially in the second half, with monthly revenue projected to start from NT$170 million. Based on current order and shipment momentum, Q2 2026 is expected to set another new high. Full-year revenue is forecast to exceed the 2025 record of NT$1.607 billion.

As Winning RFID actively expands overseas, financial analysts project strong performance in the second half of 2026. First-half EPS is estimated at NT$3.50, with full-year EPS projected at NT$7.00–7.50. The company aims to earn back one full share of equity by 2027.

Winning RFID reported strong operational results in Q1 2026, with revenue of NT$428 million, driven by stable growth in industrial applications and mass production of new consumer products. Gross margin improved to 34.57%, up 2.01 percentage points sequentially and 2.00 percentage points year-on-year. Q1 net profit reached a record NT$70.79 million, up 5.97% sequentially and 32.06% year-on-year, with EPS of NT$1.67. Analysts expect Q2 profits to surpass Q1 due to expanded operations and favorable exchange rate impacts.

Demand for Winning RFID’s wireless RF solutions in the medical sector is clearly rebounding. The company plans to aggressively enter the Japanese market with full support from its major shareholder, Synergy (2484-TW), by establishing a local production line in Japan to capture demand from the domestic medical and pharmaceutical industries for RFID solutions. Winning RFID aims to begin mass production for Japan’s vast pharmaceutical market by 2028.

The company’s rapid entry into Japan’s medical market is facilitated by Synergy Crystal’s existing Japanese subsidiary in Yonezawa, Yamagata Prefecture, originally established in 2000 through a partnership with Japan Meiden Co., Ltd. This infrastructure enables Winning RFID to quickly establish a local entity, leverage existing personnel and facilities, and accelerate product certification and production. Synergy, a frequency component manufacturer and Winning RFID’s largest institutional shareholder with a 13.63% stake, has its chairman, Tseng Ying-Tang, also serving as chairman of Winning RFID.

Looking ahead, the U.S. FDA’s Drug Supply Chain Security Act (DSCSA) mandates serialization of medical products to enhance traceability and anti-counterfeiting. The European Union will implement the Digital Product Passport (DPP) in 2027, requiring products to carry complete traceable information. These two international regulations will serve as long-term drivers for rapid RFID growth, positioning Winning RFID for sustained expansion. Analysts believe that increasing penetration of existing RFID tags and labels, combined with new product introductions, will drive full-year 2026 profitability.