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Update from Charles Liang, CEO of Supermicro

September 3, 2024

Super Micro Computer, Inc.
980 Rock Avenue
San Jose, CA 95131, USA
September 3, 2024

To our respected customers and partners,

You may already be aware that Supermicro recently postponed the deadline for submitting the annual financial report from June 30, 2024. Additionally, a report was released by the short-selling institutions. I would like to explain directly to you the significance of these events for you and our products.

These events will not change the strength of our products nor affect our ability to deliver innovative IT solutions. The company's production capacity remains strong, operating steadily to meet customer demands. Supermicro's world-class engineering and support team continue to build and deploy large-scale artificial intelligence solutions. Our liquid cooling solutions are continually growing, with approximately 2000 units of liquid-cooled AI cabinets shipped, believed to account for over seventy-five percent of the liquid-cooled AI server market this year. Most importantly, Supermicro continues to maintain superiority in the market, providing you and thousands of customers globally with more comprehensive products to help you overcome various IT tasks and challenges.

Regarding our annual financial report, as with the information we have publicly disclosed on other occasions, the decision to postpone the submission was made by the board's audit committee, and a special committee has been established to review relevant internal controls and other matters. The board will make every effort to thoroughly complete this matter.

However, it is important to emphasize that when we announced the decision to postpone the annual report submission, it was clearly stated that based on the operations completed to date, there are no significant changes expected in the financial statements for the fourth quarter or the 2024 fiscal year. This is good news, and I have full confidence in our financial and internal teams.

Furthermore, in the 2024 fiscal year, due to our commitment to meeting your technical needs, we have delivered strong business performance. Overall, our total revenue has more than doubled compared to before, exceeding the industry average by more than three times. Supermicro is also actively expanding its staff, investing significantly in developing innovative technologies, and enhancing product strength. Our team will surely grow stronger.

Additionally, there is an institution shorting our company that recently released false or inaccurate information, making misleading statements about public information. We will respond at the appropriate time. As you know, the purpose of these short reports is to drive the stock price down to satisfy short sellers' profits, damaging the interests of the company's shareholders.

Providing customers with a premium experience has always been our top priority, and this will never change. We are committed to fulfilling promises to customers, implementing product blueprints, and continuing steady growth and expansion to meet your various needs, helping you achieve business objectives.

Looking ahead to 2025, our continuous innovation in products will drive record-breaking order quantities, establishing Supermicro's leading position in many fields. Your trust in Supermicro has also been key to our success. Once again, we are honored to be your partner and appreciate the opportunity to further develop our collaborative relationship. If you have any questions, please feel free to contact us. Thank you.

Sincerely, Charles Liang
Founder, President, and CEO

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