鴻勁精密股份有限公司 (股票代號: 7769) 2026Q2 法說會簡報
Company Overview
- Company Name: 鴻勁精密股份有限公司 (HON.PREC HON.PRECISION, INC.)
- Stock Code: 7769
- Copyright: © Hon. Precision, Inc. All Rights Reserved.
Financial Highlights
(Unit: TWD; 仟元, unless otherwise specified)
Profitability Trends
| Period | 營業收入 (Operating Revenue) | 毛利率 (Gross Margin) | EPS (Earnings Per Share) (元) |
|---|---|---|---|
| 2026 H1 | 24,518,966 | 56.15% | 56.14 |
| 2025 | 30,270,625 | 56.54% | 75.71 |
| 2024 | 13,992,344 | 55.02% | 32.95 |
Profitability Margins (Quarterly Trends)
- Gross Margin: Generally between 55% and 60%, with a slight downward trend from 25Q3 to 26Q2.
- Operating Profit Margin: Generally between 50% and 55%, with a slight downward trend from 25Q3 to 26Q2.
- Net Profit Margin: Generally between 35% and 45%, with a slight downward trend from 25Q3 to 26Q2.
Financial Statements
| Category | 25H1 | % | 25H2 | % | 2025 | % | 26H1 | % |
|---|---|---|---|---|---|---|---|---|
| 營業收入 (Operating Revenue) | 12,797,230 | 100.0 | 17,473,395 | 100.0 | 30,270,625 | 100.0 | 24,518,966 | 100.0 |
| 營業毛利 (Gross Profit) | 7,530,955 | 58.8 | 9,582,681 | 54.8 | 17,113,636 | 56.5 | 13,768,304 | 56.2 |
| 營業費用 (Operating Expenses) | 754,441 | 5.9 | 1,313,492 | 7.5 | 2,067,933 | 6.8 | 1,722,048 | 7.0 |
| 營業淨利 (Operating Profit) | 6,776,514 | 53.0 | 8,269,189 | 47.3 | 15,045,703 | 49.7 | 12,046,256 | 49.1 |
| 年度淨利 (Annual Net Profit) | 5,033,752 | 39.3 | 7,328,044 | 41.9 | 12,361,796 | 40.8 | 10,100,517 | 40.7 |
Business Segments
Order Application Distribution (2026 H1 vs. 2025)
- AI/HPC/ASIC
- 2026 H1: 77% (↑ from 72% in 2025)
- Products/Technologies: AI Computing, Server, Networking, APU/GPU/CPU/FPGA
- Automotive
- 2026 H1: 9% (↓ from 11% in 2025)
- Products/Technologies: Sensor, MCU, LIDAR
- Mobile AP Communication
- 2026 H1: 8% (↓ from 10% in 2025)
- Products/Technologies: SiP, 5G OTA, Power, PMIC, Mobile Phone/AP, RF Related Devices
- 3C Consumer
- 2026 H1: 5% (↔ from 5% in 2025)
- Products/Technologies: AR glasses, LCD driver, CIS
- Memory MEMS
- 2026 H1: 1% (↓ from 2% in 2025)
- Products/Technologies: Flash/DRAM Memory, Accelerometer, Gyroscope, Barometer, Light Sensor, Pressure Sensor
Outlook & Strategy
1. Capacity Expansion (產能)
- 26H1 Actual Growth Rate: 45%+
- Order Visibility: Extends to end of 2026.
- Capacity Planning: Extends to 27Q1.
- 2027 Capacity Expansion Plan: +50%
- Desheng Plant: To start production in 27Q1, expected to increase capacity by 15%.
- China Local Production: To start in 27Q1, expected to increase capacity by 20%.
- Existing Headquarters Plant: Expected to increase capacity by 15%.
2. Customer Expansion Needs (客戶擴廠需求)
- 26H2~27: US automotive chip customer's Thailand plant.
- 27Q1: OSAT US/Singapore new plants, and China new plant.
- 27Q2: OSAT Arizona new plant.
3. CPO/CPC Initiatives
- INS4 OE: Updated progress (SOW completed), expected to start shipping in October 2026.
- CPO Lab (Clean Room): Completed, supporting engineering validation needs for various customers.
- ATE Development: Continuously developing INS3, INS4 with major ATE manufacturers; multiple projects underway.
- CPC Projects: Jointly developing CPC projects with US networking major customers and ATE manufacturers.
4. Final Test (FT)
- US EV Major Customer: AI chips using highest-end equipment, continuous shipments in 26H2 to US, Taiwan & Korea OSAT.
- China Market High-end AI/HPC: Strong demand, order volume up 60%+.
- TPU Major Customer: Large volume shipments in 26H2 to Taiwan/Singapore OSAT.
- US Automotive Chip Customer: Large volume shipments in 26H2 to Thailand new plant.
- US Austin Customer: Next-gen CPU validation completed, strong demand in 2027.
- Large Package + Automation + Advanced ATC (~10kW): Shipments starting October 2026.
5. System Level Test (SLT)
- China Market Automotive and AI Testing: Strong demand, order volume up 80%.
- US Austin Customer: CPU shipments starting 26H2, GPU product validation in progress.
- US EV Major Customer: Mass production adopting 3-temp SLT.
- US GPU Major Customer: Engineering validation machine completed first phase validation, continuously optimizing.
- US CSP Customer: Next-gen CPU+TPU adoption in progress, validation machines expected to ship sequentially from September to December 2026.
- China Market MSLT (Multi-Site SLT): Business promotion underway.
Strategic Initiatives and Plans
- Growth Drivers: "Smarter Chips. Efficient Tomorrow. Powered by Our Growth Drivers."
Products, Services & Technology
- AI/HPC/ASIC: AI Computing, Server, Networking, APU/GPU/CPU/FPGA
- Automotive: Sensor, MCU, LIDAR
- Mobile AP Communication: SiP, 5G OTA, Power, PMIC, Mobile Phone/AP, RF Related Devices
- 3C Consumer: AR glasses, LCD driver, CIS
- Memory MEMS: Flash/DRAM Memory, Accelerometer, Gyroscope, Barometer, Light Sensor, Pressure Sensor
- Testing Services: Final Test (FT), System Level Test (SLT), Multi-Site SLT (MSLT), 3-temp SLT
- Advanced Technologies: CPO (Co-Packaged Optics), CPC, INS3, INS4, Advanced ATC (~10kW)