Unimicron 2Q26 sales is in line with consensus

研报英文原文证据摘录

Unimicron 2Q26 sales is in line with consensus

8 July 2026

Alex Wang, CFA

+852 2123 2613

Asia Tech Hardware alex.wang@bernsteinsg.com

Unimicron Technology Corp Shirley Yang, CFA

+852 2123 2660

Rating shirley.yang@bernsteinsg.com

Outperform Ethan Xu

Price Target +852 2123 2634

ethan.xu@bernsteinsg.com

3037.TT 990.00 TWD

Unimicron’s 2Q26 topline came in line. 2Q26 revenue increased by 32% YoY and 15% Close Date 8 Jul 2026

QoQ to NT$42.9B, near the upper end of NT$41-43B sales forecast based on two-month

3037.TT Close Price (TWD) 863.00

sales trends. June 2026 revenue alone was up by 28% YoY and 6% MoM in USD terms. The

Price Target (TWD) 990.00

company has maintained strong momentum, supported by rising demand across key product

Upside/(Downside) 15%

lines. ASP for ABF should have grown double digits in 2Q QoQ, partially driven by raw material

52-Week Range 1,130.00/112.13

price hike. With capacity additions set to come online, the company is positioned to deliver

ASIAX 1,945.70

both top-line growth and gross margin expansion in 2H26. mSAP for optical modules have

FYE Dec

also seen strong traction, and now contributes meaningfully to non-AI HDI revenue. Beyond

Div Yield 0.2%

operations, Unimicron is also active on capital markets. It recently invested in a private CB in

Market Cap (TWD) (B) 1,371.20

the leading drill-bit supplier Topoint Technology (8021 TT, not covered). In addition, Suzhou

EV (TWD) (B) 1,372.68

Qunce, its 90%-owned subsidiary, has recently filed for a Hong Kong IPO (Qunce Prospectus).

Outperform. Performance YTD 1M 6M 12M

Absolute (%) 292.3 (5.3) 279.3 649.8

ASIAX (%) 19.0 2.0 15.2 35.3

Relative (%) 273.3 (7.3) 264.2 614.5

Source: Bloomberg, Bernstein estimates and analysis.

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