Lianhua Electronics's first-quarter revenue of NT $17.69 billion was lower than expected, down 14.53% from a year earlier.

According to the news on April 11, yesterday, chip contract manufacturer Lianhua Electronics announced that revenue in March was NT $17.69 billion, down 20.11% from a year earlier and up 4.47% from a month earlier, meaning the company ended six consecutive months of revenue decline.

In February 2023, the company's revenue was NT $16.931 billion (US $553.7 million), down 13.57% from a month earlier and 18.64% from a year earlier to a 22-month low.

In the first quarter of this year, the company's revenue was NT $54.21 billion (US $1.78 billion), down 14.53 per cent from a year earlier and 20.08 per cent from a month earlier, failing to meet its first-quarter revenue target set in January.

Founded in 1980, Lianhua Electronics provides advanced process technology and wafer manufacturing services to produce chips for major applications in the IC industry.

In early March this year, Infineon announced that it had reached a long-term strategic cooperation agreement with Lianhua Electronics. Under the agreement, UMC will use the 40nm process to manufacture high-performance microcontroller products for Infineon at its fab plant in Singapore.