力成科技 (PTI) 2026年第三季法人說明會
Company Overview
- 公司名稱: 力成科技股份有限公司 (Powertech Technology Inc.)
- 活動名稱: 2026年第三季法人說明會
- 日期: Oct. 27, 2026
- 官方網站: www.pti.com.tw
經營團隊
- 董事長: 蔡篤恭
- 執行長: 謝永達
- 財務長: 沈俊宏
Safe Harbor Statement
本簡報可能包含前瞻性預測、估計或其他資訊。這些前瞻性聲明基於截至本次會議時PTI可獲得的資訊以及當前的預期、預測和假設，並涉及可能導致實際結果與這些前瞻性聲明預期結果存在重大差異的風險和不確定性。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，我們不承擔修訂或公開發布任何修訂這些前瞻性聲明結果的義務。
Financial Highlights
2026年第三季合併綜合損益與前一季比較 (NTD M)
| Account | 3Q26 | % | 2Q26 | % | QoQ % |
|---|---|---|---|---|---|
| Revenue | 25,334 | 100.0% | 23,116 | 100.0% | 9.6% |
| Gross Profit | 6,085 | 24.0% | 5,031 | 21.8% | +2.2ppts |
| Operating Expenses | 1,613 | 6.4% | 1,500 | 6.5% | 7.5% |
| Operating Income | 4,472 | 17.7% | 3,531 | 15.3% | +2.4ppts |
| Non-Operating Income (Expenses), net | 85 | 0.3% | 130 | 0.6% | -34.6% |
| Income Before Income Tax | 4,557 | 18.0% | 3,661 | 15.8% | +2.2ppts |
| Income Tax Expense | 992 | 3.9% | 811 | 3.5% | 22.3% |
| Net Income | 3,565 | 14.1% | 2,850 | 12.3% | 25.1% |
| Shareholders of the Parent | 2,612 | 10.3% | 2,219 | 9.6% | 17.7% |
| Non-Controlling Interests | 953 | 3.8% | 631 | 2.7% | 51.0% |
| EPS (NT$) | 3.55 | 3.00 | 18.3% |
- 註:
- 2026年第三季合併財務報表尚未經會計師查核。
- 毛利率、營業利益率和淨利率均有所提高。
- 2026年第三季營收及EPS創歷年新高。
2026年第三季合併綜合損益表與去年同期比較 (NTD M)
| Account | 3Q26 | % | 3Q25 | % | YoY % |
|---|---|---|---|---|---|
| Revenue | 25,334 | 100.0% | 19,968 | 100.0% | 26.9% |
| Gross Profit | 6,085 | 24.0% | 3,222 | 16.1% | +7.9ppts |
| Operating Expenses | 1,613 | 6.4% | 1,170 | 5.9% | 37.9% |
| Operating Income | 4,472 | 17.7% | 2,052 | 10.3% | +7.4ppts |
| Non-Operating Income (Expenses), net | 85 | 0.3% | 318 | 1.6% | -73.3% |
| Income Before Income Tax | 4,557 | 18.0% | 2,370 | 11.9% | +6.1ppts |
| Income Tax Expense | 992 | 3.9% | 335 | 1.7% | 196.1% |
| Net Income | 3,565 | 14.1% | 2,035 | 10.2% | 75.2% |
| Shareholders of the Parent | 2,612 | 10.3% | 1,538 | 7.7% | 69.8% |
| Non-Controlling Interests | 953 | 3.8% | 497 | 2.5% | 91.8% |
| EPS (NT$) | 3.55 | 2.08 | 70.7% |
- 註:
- 2026年第三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年第三季營收及EPS創歷年新高。
2026年1-3Q合併綜合損益表與去年同期比較 (NTD M)
| Account | 1-3Q26 | % | 1-3Q25 | % | YoY % |
|---|---|---|---|---|---|
| Revenue | 69,764 | 100.0% | 53,522 | 100.0% | 30.3% |
| Gross Profit | 15,260 | 21.9% | 8,738 | 16.3% | +5.6ppts |
| Operating Expenses | 4,496 | 6.4% | 3,303 | 6.2% | 36.1% |
| Operating Income | 10,764 | 15.4% | 5,435 | 10.2% | +5.2ppts |
| Non-Operating Income (Expenses), net | 612 | 0.9% | 307 | 0.6% | 99.3% |
| Income Before Income Tax | 11,376 | 16.3% | 5,742 | 10.7% | +5.6ppts |
| Income Tax Expense | 2,574 | 3.7% | 853 | 1.6% | 201.8% |
| Net Income | 8,802 | 12.6% | 4,889 | 9.1% | 80.0% |
| Shareholders of the Parent | 6,675 | 9.6% | 3,673 | 6.9% | 81.7% |
| Non-Controlling Interests | 2,127 | 3.0% | 1,216 | 2.3% | 74.9% |
| EPS (NT$) | 9.05 | 4.96 | 82.5% |
- 註:
- 2026年1-3Q合併財務報表尚未經會計師查核。
- 毛利率、營業利益率和淨利率均有所提高。
- 2026年1-3Q營收及EPS創歷年新高。
合併資產負債表 9/30/2026 (NTD M)
| Account | Amount | % |
|---|---|---|
| Current Assets | 59,165 | 41.1% |
| -Cash and Cash Equivalents | 24,886 | 17.3% |
| Non-Current Assets | 84,929 | 58.9% |
| Total Assets | 144,094 | 100.0% |
| Current Liabilities | 31,908 | 22.2% |
| Non-Current Liabilities | 39,682 | 27.5% |
| Total Liabilities | 71,590 | 49.7% |
| Equity Attributable to Shareholders of the Parent | 56,925 | 39.5% |
| Non-Controlling Interests | 15,579 | 10.8% |
| Total Equity | 72,504 | 50.3% |
| Total Liabilities and Equity | 144,094 | 100% |
- 註:
- 於2026年9月30日之每股淨值為NT$ 75.99(自結)。
- 2026年第三季合併財務報表尚未經會計師查核。
Recent Performance and Results
3Q26第三季營運結果
- Revenue: $25.3B (NTD M)
- QoQ +9.6%
- 3Q25: 19,968; 2Q26: 23,116; 3Q26: 25,334
- Gross Margin%: 24.0%
- QoQ +2.2ppts
- 3Q25: 16.1%; 2Q26: 21.8%; 3Q26: 24.0%
- EPS: $3.55 (NT$)
- QoQ +18.3%
- 3Q25: 2.08; 2Q26: 3.00; 3Q26: 3.55
1-3Q26營運結果
- Revenue: $69.7B (NTD M)
- YoY +30.3%
- 1-3Q24: 56,218; 1-3Q25: 53,522; 1-3Q26: 69,764
- Gross Margin%: 21.9%
- YoY +5.6ppts
- 1-3Q24: 19.3%; 1-3Q25: 16.3%; 1-3Q26: 21.9%
- EPS: $9.05 (NT$)
- YoY +82.5%
- 1-3Q24: 7.05; 1-3Q25: 4.96; 1-3Q26: 9.05
合併營業額比率—依服務類別 (NTD M)
3Q26 (季)
| 服務類別 | 3Q25 | 2Q26 | 3Q26 |
|---|---|---|---|
| Packaging | 67% | 66% | 67% |
| SiP/Module | 11% | 11% | 9% |
| Testing | 22% | 23% | 24% |
- 總營收: 3Q25: 19,968; 2Q26: 23,116; 3Q26: 25,334
1-3Q26
| 服務類別 | 1-3Q24 | 1-3Q25 | 1-3Q26 |
|---|---|---|---|
| Packaging | 68% | 68% | 67% |
| SiP/Module | 10% | 10% | 10% |
| Testing | 22% | 22% | 23% |
- 總營收: 1-3Q24: 56,218; 1-3Q25: 53,522; 1-3Q26: 69,764
合併營業額比率—依產品類別 (NTD M)
3Q26 (季)
| 產品類別 | 3Q25 | 2Q26 | 3Q26 |
|---|---|---|---|
| Logic | 40% | 41% | 43% |
| SiP / Module | 11% | 11% | 9% |
| NAND | 25% | 29% | 28% |
| DRAM | 24% | 19% | 20% |
- 總營收: 3Q25: 19,968; 2Q26: 23,116; 3Q26: 25,334
1-3Q26
| 產品類別 | 1-3Q24 | 1-3Q25 | 1-3Q26 |
|---|---|---|---|
| Logic | 39% | 43% | 42% |
| SiP / Module | 10% | 10% | 10% |
| NAND | 29% | 24% | 28% |
| DRAM | 22% | 23% | 20% |
- 總營收: 1-3Q24: 56,218; 1-3Q25: 53,522; 1-3Q26: 69,764
3Q26 Business Overview (3Q26 revenue NT$ 25.3B with 24% GM)
Memory-DRAM
- 訂單能見度高，推升營收表現穩定增長。
- High order visibility drives steady growth in revenue.
Memory-NAND
- AI 伺服器帶旺 eSSD 需求，推升營收持續成長。
- AI servers are fueling demand for eSSDs, driving continued revenue growth.
- eSSD 市場動能強勁，季營收 QoQ 持續向上、YoY 高雙位數成長。
- The eSSD market shows strong momentum, with quarterly revenue continuing to grow on QoQ basis and achieving high double-digit YoY growth.
LOGIC
- 出貨續增，營收 QoQ 及 YoY 續增雙位數。
- Shipments continued to grow, with revenue posting double-digit increases both QoQ and YoY.
- 超豐 (Greatek): 客戶需求強勁，產品價格調整及簽訂 LTA 帶動營收 QoQ、YoY 續增雙位數。
- Greatek: Strong customer demand, product price adjustments, and the signing of LTAs have driven double-digit growth in both QoQ and YoY.
- Tera Probe / Terapower: CAPEX 支應客戶需求，營收 QoQ、YoY 持續高雙位數成長。
- Tera Probe / Terapower: CAPEX are being deployed to meet customer demand, driving sustained high double-digit growth in revenue on both QoQ and YoY basis.
Outlook & Strategy
4Q26 and Onward Business Outlook
Industry
- AI 及雲端基礎建設投資維持強勁，持續支撐半導體及記憶體產業需求。
- Investment in AI and cloud infrastructure remains robust, continuing to support demand for the semiconductor and memory industries.
- DRAM 及 NAND Flash 需求仍大於供給，產品價格趨勢有利於記憶體產業營收成長。
- Demand for DRAM and NAND Flash continues to exceed supply, and product price trends are favorable to revenue growth for the memory industry.
- 整體而言，第四季半導體產業展望維持樂觀，AI 相關應用將持續扮演主要成長引擎。
- Overall, the outlook for the semiconductor industry in the fourth quarter remains optimistic, with AI-related applications continuing to serve as the primary growth engine.
PTI Group-PTI
DRAM
- 因應人工智慧維持強勁需求，致使整體記憶體仍然供不應求，整體產能利用率可望維持相當水準，並期待客戶未來新晶圓產能陸續開出。
- Driven by sustained strong demand for artificial intelligence, the memory market remains in a state of undersupply. Overall capacity utilization is expected to hold at a high level, with further growth anticipated as customers bring new wafer production capacity online.
- 車用部分屬於高規格需求，目前訂單能見度處於穩定狀態。
- The automotive segment requires high-specification, order visibility currently remains stable.
- 隨著市場供需持續緊俏，客戶對原物料成本上漲帶動的價格調整亦展現高接受度。展望第四季，在整體產能稼動率維持高檔及價格效益逐步顯現的雙重帶動下，預期獲利將進一步攀升。
- As market supply remains tight relative to demand, customers have shown a high degree of acceptance toward price adjustments driven by rising raw material costs. Looking ahead to the fourth quarter, profitability is expected to climb further, bolstered by both high overall production capacity utilization and the gradual realization of the benefits from price adjustments.
NAND & SSD
- AI 應用需求持續成長，企業級 SSD 及 NAND 相關需求維持強勁，預期第四季整體需求仍將維持高檔，營運表現穩健。
- Driven by continued growth in AI-related applications, overall SSD and NAND backend demand is expected to remain strong in the fourth quarter, supporting solid business performance.
- 封裝材料成本持續上升，PTI 將持續適度反映於客戶價格，預期對第四季營收及毛利率仍具正面支撐。
- As packaging material costs continue to rise, PTI will continue to appropriately reflect the increases in customer pricing, which is expected to provide positive support to fourth-quarter revenue and gross margin.
Logic
- 隨著 AI 市場需求持續增溫，力成在高階 FCBGA 亦同步受惠，既有高階產品需求亦持續擴大。預期第四季高階封裝業務將延續成長動能，維持穩健向上的發展趨勢。
- As demand in the AI market continues to heat up, PTI is benefiting from the growing need for high-end FCBGA solutions. Demand for existing high-end products is also continuing to expand. It is expected that the high-end packaging business will maintain its growth momentum through the fourth quarter, sustaining a steady upward trend.
- 受惠於市場供需持續緊俏，多數客戶已逐步接受價格調整。隨著原物料上升所帶動的價格逐步反映，預期第四季將進一步挹注營收及獲利成長，並對整體獲利表現帶正面貢獻。
- Benefiting from continued tight market supply and demand, most customers have gradually accepted price adjustments. As the impact of rising raw material costs is increasingly reflected in pricing, this is expected to further boost revenue and profit growth in the fourth quarter, contributing positively to overall earnings performance.
- 先進封測 FOPLP，客戶端的產品驗證正在持續推進，並朝 2027 量產既定目標穩定推進。此外，隨著市場需求及量產信心度提升，客戶在新產品導入 (NPI) 的需求亦顯著增加，將對未來業務注入新的成長動能。
- For the advanced FOPLP, product validation by clients is progressing steadily, remaining on track toward the established goal of mass production by 2027. Furthermore, as market demand grows and confidence in mass production strengthens, there has been a notable increase in client requests for New Product Introduction (NPI)—a trend set to provide new growth momentum for the business moving forward.
- 力成除持續推進 5 倍 reticle 以下的封裝應用外，更進一步投入超大尺寸封裝技術的研發，以因應未來 AI 晶片對高效能、高整合度的大尺寸封裝需求，持續強化先進封裝競爭力與市場布局。
- In addition to continuing its advancement of packaging applications for reticle sizes up to 5x, PTI is further investing in the R&D of ultra-large-scale packaging technologies. This initiative aims to address the future demand from AI chips for high-performance, highly integrated, large-format packaging, while simultaneously strengthening the company's competitiveness and market positioning in the advanced packaging sector.
- 在高階 FCBGA 領域，繼第三季成功導入大晶片 (1x reticle Size) 封裝 (75x78) 的量產後，第四季將進一步跨入更大尺寸封裝領域 (78x88)，整合 SoC Die 與 DRAM 元件在單一基板上，此項技術突破再次證明力成在大尺寸封裝的技術實力，更具體驗證公司在 warpage control 及 TIM coverage 等關鍵製程能力，再次獲得國際級 AI 客戶的肯定。
- In the high-end FCBGA sector, following the successful introduction of large-die (1x reticle size, 75x78) packaging into mass production during the third quarter, the company will advance into even larger-format packaging (78x88) in the fourth quarter. This involves integrating SoC dies and DRAM components onto a single substrate. This technological breakthrough further demonstrates PTI's prowess in large-format packaging—specifically validating its core process capabilities in areas such as warpage control and TIM (Thermal Interface Material) coverage—and has once again earned the recognition of a world-class AI client.
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，預計第四季營收將保持穩健。
- Q4 revenue is expected to remain strong, supported by continued robust demand for Server and ML-AI applications.
- 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.
- 在車用領域方面，TPW 相關需求維持穩定，而 TPJ 則有所成長。
- In the automotive sector, TPW demand is expected to remain flat, while TPJ demand increases.
PTI Group-Greatek
- AI、HPC 及 IoT 需求成長，消費性電子、PC 及 NB 拉貨轉趨保守。
- Demand for AI, HPC and IoT continues to grow, while customer pull-ins for consumer electronics, PCs and notebooks have turned more conservative.
- 客戶因應 AI/HPC 和 Edge 應用平台，進而積極開發新產品，為 2027 營收成長打基礎。
- In response to AI/HPC and Edge application platforms, customers are actively developing new products, laying the foundation for revenue growth in 2027.
- 菲律賓廠第四季起貢獻營收，並與客戶簽訂長期供應合約，擴大導線架封裝的產能與市占。
- The Philippine plant will begin contributing revenue from 4Q26, and long-term supply agreements have been signed to expand leadframe packaging capacity and market share.
ESG / Sustainability
2025 永續報告書完整版、核心摘要版及 ESG 主題報告發行
- 永續報告書完整版
- 永續報告書核心摘要
- 氣候相關財務揭露報告 (TCFD)
- 人權盡職調查報告
2025 溫室氣體盤查與減碳成果
- 溫室氣體盤查已由第三方機構 SGS 驗證，符合 ISO 14064-1:2018 標準，並取得盤查報告。
- 達成 2025 年度減碳目標 (溫室氣體 Scope 1+2 絕對量較 2020 年減少 >4%)。
- 力成科技溫室氣體排放量 (公噸二氧化碳當量):
- 2020年: 34,572.78 (範疇一), 18,372.82 (範疇二), 總排放量: 414,692.19
- 2021年: 380,119.41 (範疇一), 14,452.87 (範疇二), 總排放量: 399,718.99
- 2022年: 377,208.72 (範疇一), 14,381.30 (範疇二), 總排放量: 391,661.59
- 2023年: 328,260.29 (範疇一), 7,455.97 (範疇二), 總排放量: 342,641.59
- 2024年: 339,416.97 (範疇一), 10,268.86 (範疇二), 總排放量: 346,872.94
- 2025年: 319,549.66 (範疇一), 總排放量: 329,818.51 (範疇二數據未提供)
- 比率% (較 2020 年增減 / 較 2024 年增減):
- 範疇一: -70.3% / +19.6%
- 範疇二: -15.9% / -5.9%
- 總排放量: -20.5% / -4.9%
社會共融 × 運動培育
- 結合企業與在地學校促進交流，以運動陪伴孩子健康成長、拓展視野。
- 第 11 屆力成盃壘球賽：揮灑汗水、共享歡樂以運動串起陪伴與連結。
- 力成科技教育基金會 X 壘球社 X 上舘國小 X 五峰國小