Powertech Technology Inc. (6239.TW) 2025Q2 法說會簡報
Company Overview
Powertech Technology Inc. is a leading provider of semiconductor packaging and testing services.
Financial Highlights
2Q25 Consolidated Income Statement QoQ Comparison
| Account | 2Q25 | % | 1Q25 | % | QoQ % |
|---|---|---|---|---|---|
| Revenue | 18,060 | 100% | 15,494 | 100% | 16.6% |
| Gross Profit | 2,875 | 15.9% | 2,641 | 17.0% | -1.1ppts |
| Operating Expenses | 1,039 | 5.8% | 1,094 | 7.1% | -5.0% |
| Operating Income | 1,836 | 10.2% | 1,547 | 10.0% | +0.2ppts |
| Non-Operating Income (Expenses), net | -268 | -1.5% | 256 | 1.7% | -204.7% |
| Income Before Income Tax | 1,568 | 8.7% | 1,803 | 11.6% | -2.9ppts |
| Income Tax Expense | 293 | 1.6% | 225 | 1.5% | 30.2% |
| Net Income | 1,275 | 7.1% | 1,578 | 10.2% | -19.2% |
| Shareholders of the Parent | 960 | 5.3% | 1,175 | 7.6% | -18.3% |
| Non-Controlling Interests | 315 | 1.7% | 403 | 2.6% | -21.8% |
| EPS (NT$) | 1.30 | 1.58 | -17.7% | ||
| *Revenue (USD M) | 587 | 472 | 24.4% |
2Q25 Consolidated Income Statement YoY Comparison
| Account | 2Q25 | % | 2Q24 | % | YoY % | 2Q24 (Excluded Xi'an) | % | YoY % (Excluded Xi'an) |
|---|---|---|---|---|---|---|---|---|
| Revenue | 18,060 | 100% | 19,586 | 100% | -7.8% | 17,822 | 100% | 1.3% |
| Gross Profit | 2,875 | 15.9% | 3,726 | 19.0% | -3.1ppts | 3,530 | 19.8% | -3.9ppts |
| Operating Expenses | 1,039 | 5.8% | 1,149 | 5.9% | -9.6% | 1,131 | 6.3% | -8.1% |
| Operating Income | 1,836 | 10.2% | 2,577 | 13.2% | -3.0ppts | 2,399 | 13.5% | -3.3ppts |
| Non-Operating Income (Expenses), net | -268 | -1.5% | 348 | 1.8% | -177.0% | 327 | 1.8% | -182.0% |
| Income Before Income Tax | 1,568 | 8.7% | 2,925 | 14.9% | -6.2ppts | 2,726 | 15.3% | -6.6ppts |
| Income Tax Expense | 293 | 1.6% | 612 | 3.1% | -52.1% | 582 | 3.3% | -49.7% |
| Net Income | 1,275 | 7.1% | 2,313 | 11.8% | -44.9% | 2,144 | 12.0% | -40.5% |
| Shareholders of the Parent | 960 | 5.3% | 1,828 | 9.3% | -47.5% | 1,659 | 9.3% | -42.1% |
| Non-Controlling Interests | 315 | 1.7% | 485 | 2.5% | -35.1% | 485 | 2.7% | -35.1% |
| EPS (NT$) | 1.30 | 2.45 | -46.9% | 2.22 | -41.4% | |||
| *Revenue (USD M) | 587 | 607 | -3.3% | 553 | 6.1% |
Business Segments
2Q25 Operational Results
- Revenue: $18.1B (NTD M)
- QoQ +16.6%
- 2Q24: 19,586 NTD M
- 1Q25: 15,494 NTD M
- 2Q25: 18,060 NTD M
- (2Q24 Excluded Xi'an: 17,822 NTD M)
- Gross Margin %: 15.9%
- QoQ -1.1 ppts
- 2Q24: 19.0%*
- 1Q25: 17.0%
- 2Q25: 15.9%
- *Remark: If PTI Xi'an's revenue is excluded in 2Q24, the gross margin increases from 19% to 19.9%.
- EPS (NT$): $1.30
- QoQ -17.7%
- 2Q24: $2.45
- 1Q25: $1.58
- 2Q25: $1.30
- (2Q24 Excluded Xi'an: $2.22)
1H25 Operational Results
- Revenue: $33.6B (NTD M)
- YoY -11.5%
- 1H23: 32,958 NTD M
- 1H24: 37,915 NTD M
- 1H25: 33,554 NTD M
- Gross Margin %: 16.4%
- YoY -1.9 ppts
- 1H23: 16.4%
- 1H24: 18.3%
- 1H25: 16.4%
- EPS (NT$): $2.88
- YoY -39.6%
- 1H23: $3.31
- 1H24: $4.77
- 1H25: $2.88
Products & Technologies
Advanced Packaging Solutions for AI/HPC
- Three PKG solutions:
- 1. 2.5D TSI - oS (TSV Si Interposer)
- Wafer Base(1): 2.5D by Silicon Interposer
- 2. PiFO® - oS (RDL + Bridge Interposer)
- Panel Base (2, 3): Chip-lets or SoC + HBM
- 3. CLIP® - oS (Pure RDL Interposer)
- Panel Base (2, 3): Chip-lets or SoC + HBM
- 1. 2.5D TSI - oS (TSV Si Interposer)
Clients & Markets
2Q25 Consolidated Revenue Share – By Service Category
- 2Q24 (Total Revenue: 19,586)
- Packaging: 69%
- SiP/Module: 9%
- Testing: 22%
- 1Q25 (Total Revenue: 15,494)
- Packaging: 69%
- SiP/Module: 8%
- Testing: 23%
- 2Q25 (Total Revenue: 18,060)
- Packaging: 68%
- SiP/Module: 10%
- Testing: 22%
ESG / Sustainability
ESG永續成果 (ESG Sustainable Achievements)
-
FTSE4Good Recognition:
- FTSE4Good臺灣指數公司台灣永續指數 (FTSE4Good Taiwan Index Series)
- FTSE 新興市場 ESG 指數成分股 (FTSE Emerging Markets ESG Index Constituent)
-
《天下雜誌》2000 大企業調查 (CommonWealth Magazine Top 2000 Enterprises Survey):
- 製造業產業別排名 第64 名 (Manufacturing Industry Ranking: No. 64)
- 稅後純益排名 第51 名 (Net Income Ranking: No. 51)
-
要求供應商簽署《供應商行為準則》承諾,攜手供應商,打造值得信賴的永續供應鏈 (Requiring suppliers to sign the "Supplier Code of Conduct" commitment, working with suppliers to build a trustworthy and sustainable supply chain):
- 商業道德實踐 (Business Ethics Practices)
- 供應鏈責任採購 (Supply Chain Responsible Sourcing)
- 尊重人權 (Respect for Human Rights)
- 安全友善的工作環境 (Safe and Friendly Working Environment)
- 環境永續 (Environmental Sustainability)
-
布局再生能源 (Layout for Renewable Energy):
- 與晶成能源合作 (Cooperation with Crystal Energy)
- 投資能源專案 (Investing in energy projects)
- 確保再生能源供給來源 (Ensuring sources of renewable energy supply)
-
促進社會共融,落實青年培力 (Promoting social inclusion, implementing youth talent cultivation):
- 攜手104職涯學院、彰化師範大學,推廣半導體知識及企業ESG實務教學,培育半導體封測潛力人才。 (Partnering with 104 Career Academy and National Changhua University of Education to promote semiconductor knowledge and corporate ESG practical teaching, cultivating potential talent for semiconductor packaging and testing.)
Outlook & Strategy
2025 Q3 and Business Outlook
- Industry:
- 01 受到全球貿易環境與關稅調整影響,客戶提前下單,第三季展望穩健,惟整體下半年市場氛圍仍趨於審慎。 (Affected by the global trade environment and tariff adjustments, customers placed orders earlier, leading to a stable Q3 outlook, but the overall market sentiment for the second half of the year remains cautious.)
- 02 持續關注川普政府對科技貿易競爭的措施,與關稅主義的發展。 (Continue to monitor the Trump administration's measures on technology trade competition and the development of protectionism.)
Additional Data
Consolidated Balance Sheet 6/30/2025
| Account | Amount | % |
|---|---|---|
| Current Assets | 44,966 | 40.7% |
| - Cash and Cash Equivalents | 20,442 | 18.5% |
| Non-Current Assets | 65,454 | 59.3% |
| Total Assets | 110,420 | 100% |
| Current Liabilities | 27,768 | 25.2% |
| Non-Current Liabilities | 16,035 | 14.5% |
| Total Liabilities | 43,803 | 39.7% |
| Equity Attributable to Shareholders of the Parent | 52,552 | 47.6% |
| Non-Controlling Interests | 14,065 | 12.7% |
| Total Equity | 66,617 | 60.3% |
| Total Liabilities and Equity | 110,420 | 100% |