力成科技 (PTI) 2026Q2 法說會簡報
Company Overview
- 公司名稱: 力成科技股份有限公司 (Powertech Technology Inc.)
- 日期: 2026年7月28日
- 官方網站: www.pti.com.tw
- 管理團隊 (2Q26/3Q26 法說會):
- 財務長 (CFO): 沈俊宏
- 執行長 (CEO): 謝永達
- 董事長 (Chairman): 蔡篤恭
- 集團公司 (聯絡資訊):
- Powertech Technology Inc.
- 網站: www.pti.com.tw
- 電話: (886)3 5980300
- Greatek Electronics Inc. (超豐電子)
- 網站: www.greatek.com.tw
- 電話: (886)37 638568
- Tera Probe, Inc.
- 網站: www.teraprobe.com
- 電話: (81)45 4761011
- TeraPowerTechnology Inc.
- 網站: www.terapower.com.tw
- 電話: (886)3 5982828
- Powertech Technology Inc.
Financial Highlights
2026年第二季合併綜合損益與前一季比較 (NTD M)
| Account | 2Q26 | % | 1Q26 | % | QoQ % |
|---|---|---|---|---|---|
| Revenue | 23,116 | 100.0% | 21,314 | 100.0% | 8.5% |
| Gross Profit | 5,031 | 21.8% | 4,144 | 19.4% | +2.4ppts |
| Operating Expenses | 1,500 | 6.5% | 1,383 | 6.5% | 8.5% |
| Operating Income | 3,531 | 15.3% | 2,761 | 13.0% | +2.3ppts |
| Non-Operating Income (Expenses),net | 130 | 0.6% | 396 | 1.9% | -67.2% |
| Income Before Income Tax | 3,661 | 15.8% | 3,157 | 14.8% | +1.0ppts |
| Income Tax Expense | 811 | 3.5% | 770 | 3.6% | 5.3% |
| Net Income | 2,850 | 12.3% | 2,387 | 11.2% | 19.4% |
| Shareholders of the Parent | 2,219 | 9.6% | 1,844 | 8.7% | 20.3% |
| Non-Controlling Interests | 631 | 2.7% | 543 | 2.5% | 16.2% |
| EPS (NT$) | 3.00 | 2.50 | 20.0% |
- 註:
- 2026年第二季合併財務報表尚未經會計師查核。
- 毛利率、營業利益率和淨利率均有所提高。
- 2026年第二季營收創三年新高。
2026年第二季合併綜合損益表與去年同期比較 (NTD M)
| Account | 2Q26 | % | 2Q25 | % | YoY % |
|---|---|---|---|---|---|
| Revenue | 23,116 | 100.0% | 18,060 | 100.0% | 28.0% |
| Gross Profit | 5,031 | 21.8% | 2,875 | 15.9% | +5.9ppts |
| Operating Expenses | 1,500 | 6.5% | 1,039 | 5.8% | 44.4% |
| Operating Income | 3,531 | 15.3% | 1,836 | 10.2% | +5.1ppts |
| Non-Operating Income (Expenses),net | 130 | 0.6% | -268 | -1.5% | 148.5% |
| Income Before Income Tax | 3,661 | 15.8% | 1,568 | 8.7% | +7.1ppts |
| Income Tax Expense | 811 | 3.5% | 293 | 1.6% | 176.8% |
| Net Income | 2,850 | 12.3% | 1,275 | 7.1% | 123.5% |
| Shareholders of the Parent | 2,219 | 9.6% | 960 | 5.3% | 131.1% |
| Non-Controlling Interests | 631 | 2.7% | 315 | 1.7% | 100.3% |
| EPS (NT$) | 3.00 | 1.30 | 130.8% |
- 註:
- 2026年第二季合併財務報表尚未經會計師查核。
- 毛利率、營業利益率和淨利率均有所提高。
- 2026年第二季營收創三年新高。
2026年上半年合併綜合損益表與去年同期比較 (NTD M)
| Account | 1H26 | % | 1H25 | % | YoY % |
|---|---|---|---|---|---|
| Revenue | 44,430 | 100.0% | 33,554 | 100.0% | 32.4% |
| Gross Profit | 9,175 | 20.7% | 5,516 | 16.4% | +4.3ppts |
| Operating Expenses | 2,883 | 6.5% | 2,133 | 6.4% | 35.2% |
| Operating Income | 6,292 | 14.2% | 3,383 | 10.1% | +4.1ppts |
| Non-Operating Income (Expenses),net | 526 | 1.2% | -12 | 0.0% | 4,483.3% |
| Income Before Income Tax | 6,818 | 15.3% | 3,371 | 10.0% | +5.3ppts |
| Income Tax Expense | 1,581 | 3.6% | 518 | 1.5% | 205.2% |
| Net Income | 5,237 | 11.8% | 2,853 | 8.5% | 83.6% |
| Shareholders of the Parent | 4,063 | 9.1% | 2,135 | 6.4% | 90.3% |
| Non-Controlling Interests | 1,174 | 2.6% | 718 | 2.1% | 63.5% |
| EPS (NT$) | 5.50 | 2.88 | 91.0% |
- 註:
- 2026年上半年合併財務報表尚未經會計師查核。
- 毛利率、營業利益率和淨利率均有所提高。
- 2026年上半年營收創三年新高。
合併資產負債表 6/30/2026 (NTD M)
| Account | Amount | % |
|---|---|---|
| Current Assets | 50,534 | 38.6% |
| -Cash and Cash Equivalents | 17,625 | 13.5% |
| Non-Current Assets | 80,426 | 61.4% |
| Total Assets | 130,960 | 100.0% |
| Current Liabilities | 29,895 | 22.8% |
| Non-Current Liabilities | 28,866 | 22.1% |
| Total Liabilities | 58,761 | 44.9% |
| Equity Attributable to Shareholders of the Parent | 57,128 | 43.6% |
| Non-Controlling Interests | 15,071 | 11.5% |
| Total Equity | 72,199 | 55.1% |
| Total Liabilities and Equity | 130,960 | 100% |
- 註:
- 於2026年6月30日之每股淨值為NT$ 75.25(自結)。
- 2026年第二季合併財務報表尚未經會計師查核。
2Q26 第二季營運結果 (圖表數據)
- Revenue: $23B (NTD M), QoQ +8.5%
- 2Q25: 18,060
- 1Q26: 21,314
- 2Q26: 23,116
- Gross Margin%: 21.8%, QoQ +2.4ppts
- 2Q25: 15.9%
- 1Q26: 19.4%
- 2Q26: 21.8%
- EPS: $3.00 (NT$), QoQ +20.0%
- 2Q25: 1.30
- 1Q26: 2.50
- 2Q26: 3.00
1H26 上半年營運結果 (圖表數據)
- Revenue: $44B (NTD M), YoY +32.4%
- 1H24: 37,915
- 1H25: 33,554
- 1H26: 44,430
- Gross Margin%: 20.7%, YoY +4.3ppts
- 1H24: 18.3%
- 1H25: 16.4%
- 1H26: 20.7%
- EPS: $5.50 (NT$), YoY +91.0%
- 1H24: 4.77
- 1H25: 2.88
- 1H26: 5.50
Business Segments
2Q26(季) 合併營業額比率—依服務類別 (NTD M)
| 服務類別 | 2Q25 | 1Q26 | 2Q26 |
|---|---|---|---|
| Packaging | 68% | 67% | 66% |
| SiP/Module | 10% | 11% | 11% |
| Testing | 22% | 22% | 23% |
| 總計 | 18,060 | 21,314 | 23,116 |
1H26(上半年) 合併營業額比率—依服務類別 (NTD M)
| 服務類別 | 1H24 | 1H25 | 1H26 |
|---|---|---|---|
| Packaging | 69% | 68% | 66% |
| SiP/Module | 10% | 9% | 11% |
| Testing | 21% | 23% | 23% |
| 總計 | 37,915 | 33,554 | 44,430 |
2Q26(季) 合併營業額比率—依產品類別 (NTD M)
| 產品類別 | 2Q25 | 1Q26 | 2Q26 |
|---|---|---|---|
| Logic | 44% | 43% | 41% |
| SiP/Module | 10% | 11% | 11% |
| NAND | 22% | 26% | 29% |
| DRAM | 24% | 20% | 19% |
| 總計 | 18,060 | 21,314 | 23,116 |
1H26(上半年) 合併營業額比率—依產品類別 (NTD M)
| 產品類別 | 1H24 | 1H25 | 1H26 |
|---|---|---|---|
| Logic | 39% | 45% | 42% |
| SiP/Module | 10% | 9% | 11% |
| NAND | 27% | 23% | 28% |
| DRAM | 24% | 23% | 19% |
| 總計 | 37,915 | 33,554 | 44,430 |
Products & Technologies
2Q26 Business Overview
- Memory-DRAM:
- 市場需求強勁,營收持續維持動能。 (Market demand remained strong, and revenue continued to maintain its momentum.)
- Memory-NAND:
- 隨著AI server等 eSSD 需求上揚,營收續增。 (Revenue continued to grow as demand for eSSDs such as AI servers increased.)
- eSSD 需求及出貨暢旺,季營收 QoQ、YoY 續增。 (eSSD demand and shipments continued to grow, with quarterly revenue continued to increase both QoQ and YoY.)
- LOGIC:
- 出貨續增,營收QoQ續揚,YoY續增雙位數。 (Shipments continued to rise; revenue increased QoQ and showed double digits YoY growth.)
- 超豐 (Greatek): 客戶需求維持高檔,營收QoQ、YoY續增雙位數。 (Customer demand remained at a high level, revenue continued to grow by double digits in both QoQ and YoY.)
- Tera Probe / Terapower: 因應客戶需求,續投CAPEX,營收QoQ、YoY續增雙位數。 (Based on customers need high invested in CAPEX, revenue in QoQ / YoY continued to boost by double digits.)
ESG / Sustainability
ESG 永續成果
- 持續入選ESG指數成分股:
- FTSE4Good臺灣指數公司台灣永續指數
- FTSE 新興市場 ESG 指數成分股
- 《天下雜誌》2000 大企業調查:
- 製造業產業別排名: 第64名
- 半導體產業名列: 第8名
- 承諾尊重與保障人權,制定人權政策:
- 力成科技承諾尊重人權、維護人性尊嚴，並將人權視為企業核心價值。
- 遵循營運所在地之適用勞動法規，參考與支持《聯合國世界人權宣言》、《聯合國全球盟約》、《聯合國工商企業與人權指導原則》、《國際勞工組織工作基本原則與權利宣言》、《國際勞工組織公約》及《經濟合作暨發展組織(OECD)跨國企業準則》等國際人權指引，並依循責任商業聯盟(RBA)行為準則，推動人權管理與實踐。
- 政策適用於全球各營運據點之員工、供應商、承攬商及合作夥伴，並遵守以下原則：遵循當地法規及國際公認標準、禁止任何形式之強迫勞動與人口販運、禁止僱用童工、尊重員工自由結社、遵守適用之薪資與工時法規、杜絕任何形式之歧視、提供安全健康之工作環境、責任採購與責任生產、建立獨立且具保密性之申訴機制、定期執行人權風險評估、建立透明且有效之溝通機制。
- 促進社會共融,落實青年培力:
- 攜手產學合作,推廣半導體知識與ESG教育,培育封測人才。
- 與104人力銀行合作「TOP (Talent Optimization Program) 企業優質人才學用培育課程」。
Outlook & Strategy
3Q26 and Onward Business Outlook (Industry)
- AI伺服器持續帶動HBM需求,高階記憶體封裝需求維持強勁。 (AI servers continue to drive demand for HBM, and demand for high-end memory packaging remains strong.)
- DRAM與NAND市場需求持續強勁,價格及需求同步上揚。 (Market demand for DRAM and NAND remains robust, with both prices and demand rising in tandem.)
- 持續關注美伊衝突帶動能源價格波動對半導體供應鏈之影響,與美國利率政策對半導體業之衝擊。 (Continue to monitor the impact of energy price fluctuations—driven by the US-Iran conflict—on the semiconductor supply chain, as well as the repercussions of US interest rate policies on the semiconductor industry.)
3Q26 and Onward Business Outlook (PTI Group-PTI)
- DRAM:
- 記憶體產業仍處於供不應求以及客戶持續將晶圓產出極大化,將有利維持封測整體利用率。 (Memory industry demand continues to significantly exceed supply, customer keeps driving maximize FAB output, it helps to maintain high utilization of Assembly and Final Test capacity.)
- 車用部分,逐步高階自主化帶動記憶體與存儲需求增加,預計將有成長空間。 (In Automotive, memory and storage content is expected to further increase by higher levels of autonomy.)
- 記憶體已成為AI基礎設施的關鍵要素, HBM或者標準型記憶體需求都在穩定成長,也間接帶動記憶體封裝技術逐步由傳統打線封裝邁向先進封裝。預期未來對營收與毛利上皆有貢獻。 (Memory has become a critical component of AI infrastructure, with demand for both HBM and standard memory steadily rising; this trend is indirectly driving the evolution of memory packaging technology from traditional wire bonding toward advanced packaging, a shift expected to contribute to both revenue and gross margins in the future.)
- NAND & SSD:
- AI 應用需求持續成長,雖智慧手機需求可能受記憶體價格上漲影響,但整體SSD 與 NAND 封測需求仍維持高檔,預期第三季營運表現穩健。 (Driven by continued AI demand, overall SSD and NAND backend demand is expected to remain strong in the third quarter. Although smartphone demand may be affected by rising memory prices, overall business performance is expected to remain solid.)
- 封裝材料成本持續上升,PTI 將適度反映於客戶價格,預期對第三季營收及毛利率仍具正面支撐。 (As packaging material costs continue to rise, PTI will appropriately reflect the increase in customer pricing, which is expected to continue supporting third-quarter revenue and gross margin.)
- Logic:
- AI基礎建設持續帶動高階封裝需求成長,受惠於高階封裝FC-BGA需求持續成長及新產品陸續量產,藉由產品組合優化,預期對邏輯封裝業務第三季維持穩健成長。 (AI infrastructure development continues to drive growth in demand for advanced packaging. Benefiting from sustained demand for high-end FC-BGA packaging and the successive production of new products—combined with an optimized product mix—the logic packaging business is expected to maintain steady growth in the third quarter.)
- 在高階FCBGA領域,力成已具備量產大尺寸 FCBGA MCM(最高達78x75), 更進一步於第三季導入大晶片(1x reticle Size)封裝的量產。進一步強化公司在高精度貼裝、熱管理及大晶片量產良率上的競爭優勢。 (In the advanced FC-BGA segment, PTI has established mass production capability for large-size FCBGA multi-chip modules (MCMs), supporting package sizes of up to 78 × 75 mm. The Company will further ramp up volume production of large-die packages (1× reticle size) in the third quarter, reinforcing its competitive advantages in high-precision packaging, thermal management, and large-die manufacturing yield.)
- 受惠於市場需求維持緊俏及原物料成本上漲,多數客戶已逐步接受價格調整。隨著價格逐步調整,預期將有助於支撐整體毛利率。 (Driven by sustained market demand and rising raw material costs, most customers have gradually accepted pricing adjustments. As these price increases continue to take effect, they are expected to provide further support for the Company's overall gross margin.)
- 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,並同步深化與材料及設備合作夥伴的合作,以確保整體供應鏈能穩定運作,朝2027量產目標穩定推進。 (For advanced packaging FOPLP (Fan-Out Panel-Level Packaging), in addition to deepening collaboration with customers and accelerating product qualification, the Company is also strengthening partnerships with material suppliers and equipment vendors to ensure stable operation across the overall supply chain. These efforts are progressing toward the target of volume production in 2027.)
3Q26 and Onward Business Outlook (PTI Group, TPJ+TPW Combined)
- 由於伺服器及機器學習/人工智慧應用領域的強勁需求,預計第三季營收將持續成長。 (Q3 revenue is expected to continue growing, supported by strong demand in server and ML/AI applications.)
- 預期消費型 DRAM 和消費型邏輯 產品的需求將微幅成長。 (Demand for consumer DRAM and consumer Logic products is expected to increase slightly.)
- 在車用領域方面相關需求亦維持穩定。 (Automotive demand is expected to remain flat.)
3Q26 and Onward Business Outlook (PTI Group-Greatek)
- AI與高效能運算(HPC)持續帶動Bumping及FC封裝需求。AI 相關需求促進PC/手機/智能家居新產品應用普及,地端裝置將推升Edge AI需求,加速升級擴張。 (AI and High-Performance Computing (HPC) are expected to continue driving demand for Bumping and Flip-Chip packaging. Growing AI adoption is accelerating new applications across PCs, smartphones, and smart IOT devices. On-device AI is expected to drive continued expansion of Edge AI demand.)
- 智慧型手機新品上市及消費性電子旺季將帶動出貨。 (New smartphone launches and the seasonal strength in consumer electronics are expected to support shipment growth.)
- 消費性電子及工控庫存回歸健康水位,客戶Forecast穩定度提升。 (Inventory levels across consumer electronics and industrial applications returned to healthy levels, with improved forecast visibility and greater order stability.)
3Q26 and Onward Business Outlook (PTI Group-Consolidated)
- AI應用需求持續成長,帶動集團整體營運穩健發展。 (AI-driven demand continues to support Group growth.)
- 記憶體及先進封裝業務持續為集團成長的主要動能。 (Memory and advanced packaging remain the key growth engines.)
- 產品組合持續優化,並透過價格調整支撐獲利表現。 (Product mix optimization and pricing adjustment continue to support margins.)
- FCBGA、FOPLP等關鍵技術布局持續推進,強化未來成長動能。 (Strategic technology roadmaps, including FCBGA and FOPLP, continue to progress as planned.)
Additional Data
Safe Harbor Statement
This following presentation may include predictions, estimates or other information that might be considered forward-looking. These forward-looking statements are based on information available to PTI as of the date of this conference and current expectations, forecasts and assumptions, and involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements and please keep in mind that except as required by law, we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements.