Hanmi Semiconductor, HBM4 as investment gains momentum, 2quarterly earnings are expected to rebound

Hanmi Semiconductor recorded an earnings shock in the 1quarter. Industry attention is focused on whether earnings will recover after the 2quarter. Securities firms' forecasts and the timing of order incorporation are cited as key variables.

The company mainly produces TC bonders, which are thermal compression bonding equipment. TC bonders are essential in the stage of stacking and attaching wafers during the manufacturing process for high-bandwidth memory (HBM). HBM is memory used in AI accelerators for data centers.

Hanmi Semiconductor maintains a global market share of 1th in the TC bonder field. This share is directly linked to the performance of the company's core product group. The industry expects related orders to increase if HBM4 investment expands.

Sangsangin Securities expected this year's revenue to reach 7,850billion won, representing a 36% increase year on year. The brokerage explained that TC bonder order results would begin to be fully reflected in revenue from the 2quarter. The forecast was presented on the assumption of expanded HBM4 investment.

In the same report, it forecast operating profit of 3,694billion won. The operating margin was projected at 47%. The report stated that HBM4-related orders would contribute to improved results.

Industry sources said that HBM4 investment has been gaining momentum since the 2quarter. The timing of the recognition of related revenue can be confirmed through the company's order disclosures and quarterly results. The market is watching whether TC bonder revenue is reflected in the 2quarter results.