Mr. Victor Cheng, Chief Executive Officer of Delta Electronics (Thailand) Public Company Limited (SET: DELTA), stated that the business and sales outlook for 4Q25 remain positive, with continuous incoming orders despite some volatile factors that require close monitoring.
DELTA maintains its target for double-digit revenue growth in 2026. The main drivers for this growth continue to be businesses related to Data Centers, both AI and non-AI, along with a strong recovery in Networking Products.
Regarding capital expenditure (CAPEX), by the end of 3Q25, about $380 million had been spent, and total annual CAPEX is expected to be close to last year’s figure of $420 million, with a goal of preparing production capacity to meet 2026 demand.
For Liquid Cooling Solution technology, this is a new product group for the Delta Group, currently under development and moving into mass production in Taiwan. However, Delta Thailand does not yet have a concrete schedule or plan to manufacture full-system Liquid Cooling Solutions domestically. The company will instead support subsystem and key component production relevant to this technology, with production planning in progress and market introduction expected within 2026.
For raw materials in the Mechanical, Packaging, and Electro-mechanical group (such as PCBs) and other non-electrical components, the company currently sources up to 60-70% domestically.
For essential electronic components (such as semiconductors), most are still imported from international suppliers, as Thailand does not yet have a manufacturing base. DELTA sources these from multinational companies based in countries with favorable trade relations with the U.S.
Regarding Small Modular Reactor (SMR) nuclear power plant projects, DELTA currently has no projects or customers directly related to SMR technology, but in the future, if SMR technology becomes commercially operational, the company believes there may be opportunities to supply and support related power system solutions.
