Compeq Manufacturing (2313 TT, NT$212) - Starship test flights resume, optical communication provides support

Research evidence excerpt

Compeq Manufacturing (2313 TT, NT$212) - Starship test flights resume, optical communication provides support

o start properly, triggering an

automatic abort. The US FAA subsequently required SpaceX to investigate the incident

Source: CMoney

and approved Starship’s flight this Monday. The SpaceX team has replaced the affected

What’s changed engines and plans to attempt launch as early as July 23 (July 24 morning Taipei time).

New Old %

Notably, this Starship flight will carry 20 third-generation Starlink V3 satellites for the first

Rating Buy Buy

time. After deployment, the satellites will unfold solar panels and antennas and attempt toTarget price 324 344 -5.8

EPS forecast 14.4 12.05 19.5 connect to the Starlink satellite network. SpaceX stated these satellites are expected to

Target PE 22.5 27.6 re-enter the atmosphere and burn up about 20 minutes after deployment. This flight will

also test an upgraded heat shield, and some satellites are equipped with cameras for real-

Financial summary Year-end: Dec 31

NT$mn FY25 FY26F FY27F time observation of Starship’s heat tile status during reentry.

Net sales 75,996 90,046 125,076

YoY growth (%) 4.9 18.5 38.9 Strong demand for optical modules, monthly output value to challenge NT$3bn by end-

Op profit 8,150 11,595 21,325

FY27YoY growth (%) 33.0 42.3 83.9

Net profit 6,567 9,753 17,764 Benefiting from accelerated AI data center construction and rising demand for high-

YoY growth (%) 17.3 48.5 82.1 speed optical connectivity, the global AI-dedicated optical transceiver module market is

EPS (NT$) 5.51 7.90 14.40

entering a high-growth phase. We raise our shipment forecast for mSAP process-

DPS (NT$) 2.8 4.0 7.2

PE (x) 38.5 26.8 14.7 upgraded 800G and 1.6T optical modules to 50mn/23mn units in 2026 and 85mn/57mn