力成科技股份有限公司 (PTI) [time:2026Q1] 法說會簡報

Company Overview

• 公司名稱: 力成科技股份有限公司 (Powertech Technology Inc.)
• 法說會日期: Apr.28, 2026
• 官方網站: www.pti.com.tw
• 核心理念: Steady Growth and Sustainable Development (穩健成長與永續發展)

Management Team

• 董事長 (Chairman): 蔡篤恭 (Cai Du-Gong)
• 執行長 (CEO): 謝永達 (Xie Yong-Da)
• 財務長 (CFO): 沈俊宏 (Shen Jun-Hong)

Disclaimer

• 本簡報可能包含預測、估計或其他可能被視為前瞻性的資訊。這些前瞻性聲明基於截至本次會議日期PTI可獲得的資訊以及當前的預期、預測和假設，並涉及許多風險和不確定性，可能導致實際結果與這些前瞻性聲明所預期的結果存在重大差異。
• 提醒您不要過度依賴這些前瞻性聲明，並請記住，除法律要求外，我們沒有義務修改或公開發布任何對這些前瞻性聲明的修訂結果。

Financial Highlights

2026年第一季合併綜合損益與前一季比較 (1Q26 Consolidated Statement of Comprehensive Income vs. Previous Quarter)

(單位: NTD M)

• 註:
  1. 2026年第一季合併財務報表尚未經會計師查核。
  2. 毛利率、營業利益率和淨利率均有所提高。

2026年第一季合併綜合損益表與去年同期比較 (1Q26 Consolidated Statement of Comprehensive Income vs. Same Period Last Year)

(單位: NTD M)

• 註:
  1. 2026年第一季合併財務報表尚未經會計師查核。
  2. 毛利率、營業利益率和淨利率均有所提高。
  3. 2026年第一季營收及每股盈餘均創三年新高。

合併資產負債表 3/31/2026 (Consolidated Balance Sheet 3/31/2026)

(單位: NTD M)

• 註:
  1. 於2026年3月31日之每股淨值為NT$ 76.58(自結)。
  2. 2026年第一季合併財務報表尚未經會計師查核。

Recent Performance and Results

1Q26 第一季營運結果 (1Q26 Operational Results)

• Revenue: NT$ 21.3B (QoQ -0.4%)
  • 1Q25: NT$ 15,494 M
  • 4Q25: NT$ 21,407 M
  • 1Q26: NT$ 21,314 M
• Gross Margin%: 19.4% (QoQ +0.8ppts)
  • 1Q25: 17.1%
  • 4Q25: 18.6%
  • 1Q26: 19.4%
• EPS: NT$ 2.50 (QoQ -0.8%)
  • 1Q25: NT$ 1.58
  • 4Q25: NT$ 2.52
  • 1Q26: NT$ 2.50

1Q26(季) 合併營業額比率—依服務類別 (Quarterly Revenue Mix by Service)

1Q26(季) 合併營業額比率—依產品類別 (Quarterly Revenue Mix by Product)

Products, Services & Technology

1Q26 Business Overview

• 1Q26 revenue NT$ 21.3B with 19.4% GM

Memory-DRAM

• 客戶延續4Q25拉貨動能,營收維持高檔。(Customers' with strong demand from Q4 2025, keeping revenue at a high level.)

Memory-NAND

• Component: 隨著 eSSD 需求,持續挹注營收。(With the increasing demand for eSSDs, revenue continues to grow.)
• eSSD: 需求維持高檔,季營收 QoQ、YoY續增。(eSSD demand remains high, with quarterly revenue continuing to increase both QoQ and YoY.)

LOGIC

• 營收及出貨,符合預期。(Revenue and shipments met expectations.)
• Greatek (超豐): 客戶持續出貨下,營收QoQ、YoY續增雙位數。(With customers' need, revenue continued to grow by double digits in both QoQ and YoY.)
• Tera Probe / Terapower: 配合客戶計畫,持續CAPEX,營收QoQ、YoY續揚。(In line with customer plans, CAPEX continued and resulting in growth in revenue both QoQ and YoY.)

Outlook & Strategy

2Q26 and Onward Business Outlook

Industry Outlook

• 記憶體市場 (Memory Market): 維持強勁動能,受AI應用帶動,HBM需求持續強勁。(Remains robust, with strong demand for HBM driven by AI applications.)
• AI應用 (AI Applications): 擴展,帶動大型晶片與先進封裝需求提升。(Continue to expand, driving demand for large-die chips and advanced packaging.)
• 封測產業 (OSAT Industry): 受惠高階應用,價值持續提升。(Continues to benefit from high-end applications, supporting value enhancement across the sector.)

PTI Group-PTI (DRAM)

• 市場焦點: 整體產業仍著重於HPC/Server/AI相關應用,持續推升DRAM封裝與測試需求。(The overall market still focusing on HPC/Server/AI relate, continue to drive strong requirement in assembly and final test for DRAM.)
• 營運貢獻: 基於DRAM需求強勁推升報價,且第二季陸續進入手機/消費性新品備料,預期提升營運貢獻。(Regarding strong demand for DRAM and reflected in ASP, expect new application launches and preparation gradually for mobile/consumer, estimate to have some contribution from CQ2.)
• 車用市場 (Automotive Market): 需求持平,但由於降息幅度具不確定性、車貸利率等效應,整體復甦仍待觀察。(Anticipate Automotive market remain stable due to several uncertainty like interest rate cut and loan rate, overall recovery still under monitoring.)
• HBM應用 (HBM Applications): 因應HBM應用市場逐步擴大,力成正積極配合客戶強化技術與量產能力,持續深化相關的布局。(With the continued expansion of the HBM market, Powertech is actively aligning with customer demand by strengthening its process technologies and mass production capabilities, and will continue to enhance its strategic positioning in this area.)

PTI Group-PTI (NAND & SSD)

• 需求成長: 受惠於 AI 相關應用擴展,以及智慧手機新機備貨啟動,SSD 與 NAND 封測需求於第二季持續成長,整體動能穩健。(Driven by the expansion of AI-related applications and inventory build-up for upcoming smartphone product launches, SSD and NAND backend demand continues to grow in the second quarter, with overall momentum remaining solid.)
• 價格調整: 除需求面成長外,因應封裝材料及金線成本上升,PTI已逐步反映於客戶價格,預期對第二季營收及毛利率都有較正面的支撐。(In addition to demand growth, PTI has gradually reflected the increase in packaging material and gold wire costs in customer pricing, which is expected to provide positive support to second-quarter revenue.)

PTI Group-PTI (Logic)

• 2Q26展望: 雖然手機等消費性產品偏向保守,不過在高階封裝FCBGA需求持續成長及新產品陸續量產下,整體產能利用率仍維持高檔水位,藉由產品組合優化,預期對邏輯封裝業務的毛利將有顯著的貢獻。(Looking ahead to the second quarter, the logic packaging and testing business will benefit from the continued growth in demand for high-end FCBGA packaging, coupled with the overall capacity utilization rate remaining at a high level. With the optimization of the product mix, it is expected to make a significant contribution to the gross profit of the logic packaging business.)
• 高階FCBGA: 力成已具備量產大尺寸 FCBGA MCM, 更進一步導入大晶片(1x reticle Size)封裝的量產。此一能力將支撐下一世代AI與HPC應用對於超大晶片的能力,也證明力成在高精度貼裝,熱管理及大晶片量產良率上已具備量產能力。(In the high-end FCBGA segment, Powertech has achieved mass production of large-size FCBGA MCM packages. The Company has further advanced into volume production of large-die packaging at the 1× reticle size. These capabilities position Powertech to support next-generation AI and HPC applications that require ultra-large die integration, while also demonstrating its strengths in high-precision placement, thermal management, and yield performance for large-die manufacturing.)
• 原物料成本: 面對原物料成本上漲,已與客戶積極溝通將相關成本反映於產品價格中。隨著價格逐步調整,預期將有助於支撐整體毛利率。(In response to rising raw material costs, the Company has been actively engaging with customers to reflect these increases in product pricing. As pricing adjustments are gradually implemented, this is expected to help support overall gross margins.)
• 先進封測FOPLP (Fan-Out Panel Level Packaging): 除持續深化客戶端合作及加速樣品驗證外,更同步與主要材料及設備供應商展開密切合作,以確保整體供應鏈能穩定運作,期望如期於2027順利交付量產。(For advanced packaging technologies such as FOPLP, the Company continues to deepen collaboration with customers and accelerate sample validation, while also working closely with key material and equipment suppliers to ensure a stable supply chain. Mass production is targeted for 2027 as scheduled.)

PTI Group - Tera Probe+Tera Power

• 2Q26營收: 受伺服器及機器學習/人工智慧應用強勁需求的帶動,預期第二季營收將持續穩健成長。(Q2 revenue is expected to continue solid growth, supported by strong demand in server and ML/AI applications.)
• 消費型產品: 預期消費型DRAM和消費型邏輯產品的需求將溫和成長。(Demand for consumer DRAM and consumer Logic products is expected to increase moderately.)
• 車用領域: 在車用領域方面,TPJ (Tera Probe Japan) 表現持平,TPW (Tera Power Technology) 在先進駕駛輔助系統 (ADAS) 相關需求亦維持穩定。(In the automotive sector, TPJ remains flat, and TPW maintains flat demand in advanced driver assistance systems (ADAS).)

PTI Group-Greatek

• AI cloud應用: 產品陸續放量,成長動能強勁。(AI cloud-related applications are ramping up gradually, with strong growth momentum.)
• AI應用成長: 帶動PC/NB/Server之PMIC相關周邊及高階IoT需求持續增長。(Rapid growth in AI applications continues to drive demand for PMICs and related peripherals for PCs, notebooks, and servers, as well as for high-end IoT products.)
• MCU: 進入旺季,家電、醫療及PC周邊需求增加,備貨動能增加。(MCU is entering its peak season, with rising demand from home appliances, medical devices, and PC peripherals, supporting stronger inventory replenishment momentum.)
• 原物料成本: 因應原物料成本持續上漲,4月起漲價,提升單價及產品毛利。(In response to continued increases in raw material costs, prices will be raised starting in April, improving ASPs and product gross margins.)

PTI Group-Consolidated

• 2Q26營收與淨利: 終端需求帶動2Q26穩健營收及淨利成長。(Demand from end users drives 2Q26 steady revenue and net income growth.)
• 毛利率: 受價格調整與產品優化支撐。(Gross profit margin is supported by price adjustments and product optimization.)
• 集團營運: 多元成長動能持續挹注支撐集團營運發展。(Diverse growth drivers continue to support the Group's operations and development.)

ESG / Sustainability

ESG 永續成果 (ESG Sustainable Achievements)

Awards & Recognition

• S&P Global永續年鑑 (Sustainability Yearbook): 首度入選2026年S&P Global永續年鑑。
  • Corporate Sustainability Assessment (CSA) 2025: 68/100 (Score date: February 11, 2026)
• CDP (Carbon Disclosure Project):
  • 氣候變遷 B (管理等級) (Climate Change B (Management Level))
  • 水安全 B (管理等級) (Water Security B (Management Level))
• Newsweek: 入選國際知名新聞周刊《Newsweek》2025年全球最值得信賴企業榜單。

2025 節能減碳、再生能源及節水情形 (2025 Energy Saving, Carbon Reduction, and Water Conservation Status)

• 節能減碳措施: 執行161項。
• 減少用電量: 20,255,665 度。
  • 註1: 節電量以自行預估方式計算。
• 二氧化碳當量排放: 減少9,601.18 公噸。
  • 註2: 二氧化碳當量係依據台灣經濟部能源署公告2024年度之電力排碳係數(0.474公斤CO2e/度)計算。
• 再生能源使用: 約3,881萬度 (達成5%綠電目標)。
• 水回收率: 切割研磨製程水回收率 88.30%。

促進社會共融 (Promoting Social Inclusion)

• 「點食成金」偏鄉少棒隊應援計畫: 提供餐食補助,減輕參賽期間負擔。

Additional Data

Contact Information

• 力成集團 (PTI GROUP)
  • Powertech Technology Inc.
    • Website: www.pti.com.tw
    • Tel: (886)3 5980300
  • Tera Probe, Inc.
    • Website: www.teraprobe.com
    • Tel: (81)45 4761011
  • Greatek Electronics Inc.
    • Website: www.greatek.com.tw
    • Tel: (886)37 638568
  • Tera PowerTechnology Inc.
    • Website: www.terapower.com.tw
    • Tel: (886)3 5982828