The CEO has “strong” trust in teams

Investing.com — Supermicro ( SMCI ) issued a letter to clients and partners on Tuesday, addressing recent developments regarding the company’s late filing of its Annual Report for the fiscal year ended June 30, 2024 and a report published by a short – seller.

In the letter, CEO Charles Liang assured stakeholders that these issues will not affect the company’s products or its ability to provide innovative IT solutions.

Liang said Supermicro’s manufacturing capabilities remain unaffected, with operations continuing at full speed to meet customer demand.

“Our production capacities are not affected and continue to operate at pace to meet customer demand,” Liang said. “Our world-class engineering and support teams are also unaffected and continue to build and deploy total AI solutions at scale.”

He pointed to the company’s continued success, particularly in total liquid-cooled AI solutions, noting that Supermicro has shipped around 2,000 DLC liquid-cooled AI racks this year – an achievement representing more than 75% of the market.

Regarding the delayed Annual Report, Liang explained that the Audit Committee of the Board of Directors formed a committee to review internal controls and other matters.

However, he reassured stakeholders by stating, “We do not anticipate any significant change in the financial results of the fourth quarter or fiscal year 2024,” indicating confidence in the company’s financial stability.

“This is good news. I continue to have strong confidence in our finance and internal teams,” he added.

Liang also took issue with Hindenburg Research’s recent short-seller report, saying it contained “false or inaccurate statements” intended to affect the company’s share price.

He reaffirmed Supermicro’s commitment to its customers, saying that their experience remains the company’s top priority.

Looking ahead to 2025, Liang expressed his optimism, stating, “As we look to 2025, we are closing out a historic year with winning products, a record number of orders, a strong and growing number of design wins, and leading positions on market in a field. the number of zones”.

He concluded by thanking customers for their continued trust and partnership, emphasizing the company’s focus on growth and innovation.

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