台湾科技：对勤诚、奥拉斯、元太的月度收入预览；ASIC AI服务器‘、电子纸推动增长；外汇影响2Q25

We preview Chenbro, Auras, and E Ink monthly revenues in this report. Chenbro: May revenues miss on FX, while new rack products (noise-cancellation racks) to support 3Q25 revenues. Auras: May revenues declined 20% MoM due to FX impact and production sites diversification, while rising liquid cooling adoption rate and expansion from GPU AI servers to ASIC AI servers to support growth ahead. E Ink: April revenues better than expected; while FX impact could affect coming months growth. E-papers adoption rate continues to grow while macro uncertainties (e.g. tariff, geopolitical tension) remains a major moving part on end market demand. Maintain Buy on Chenbro, Auras, and E Ink. Chenbro (8210.TW, Buy): May revenues miss on FX impact; new rack products to support 3Q25 Chenbro May revenues declined by 7% MoM to NT$1.8bn, or 12% behind our estimates. The sequential decline is mainly caused by high base and FX impact, while the rising AI servers (HGX, MGX, and ASIC), and general servers new