文晔、大联大，全年业绩破纪录！

Core Viewpoint - The article analyzes the recent revenue performance of leading chip distributors Wenye and Dalian Da, highlighting their growth trajectories and market dynamics in the semiconductor industry for December 2025 and the entire year [4][5]. Group 1: Revenue Performance - Dalian Da reported a December 2025 revenue of NT$933.4 billion, marking a month-on-month increase of 18.7% and a year-on-year increase of 11.7%, achieving a record high for the month [5][10]. - Wenye's December 2025 revenue was NT$986.2 billion, reflecting a year-on-year increase of approximately 2.9% but a month-on-month decrease of about 15.4% [5][12]. - For the entire year of 2025, Wenye's consolidated revenue reached approximately NT$1.18 trillion, representing a year-on-year growth of about 22.8% [6][12]. Group 2: Market Trends and Drivers - The growth in Dalian Da's revenue is attributed to the rapid adoption of generative AI applications, which has driven demand for AI and traditional server components, leading to a strong performance in Q4 2025 [5][10]. - Dalian Da's product mix and market positioning have benefited from industry trends, with AI and data center-related products accounting for 45% of their sales [10][11]. - Wenye's growth is primarily driven by the increasing demand for high-end semiconductors in data centers and communication devices, particularly influenced by AI [15][16]. Group 3: Strategic Developments - Dalian Da has expanded its logistics services, transitioning from a pure chip distribution model to include logistics as a service (LaaS), which is expected to enhance profitability [10][11]. - Wenye has strengthened its market presence in Europe and the US through acquisitions, which have improved its inventory levels and shipping cadence [16]. - Both companies are optimistic about future growth, with expectations of continued demand for AI-related semiconductors and recovery in consumer electronics and automotive markets [16].