Catcher Reports Over 50% YoY Profit Growth in First Half, EPS at NT$5.14, AI Product Ramp Driving Monthly Revenue Growth

Casing manufacturer Catcher Technology (2474-TW) announced its latest financial report today (10th). For the first half of the year, its consolidated net profit reached NT$2.84 billion, an increase of over 50% year-on-year, with earnings per share (EPS) at NT$5.14. Catcher stated that some AI projects began mass production in July, and as the scale of AI-related product manufacturing expands, revenue is expected to grow month-on-month.

Catcher's second-quarter revenue was NT$2.681 billion, down 29% quarter-on-quarter and 47.3% year-on-year. Gross margin was 28.9%, up 0.1 percentage points from the previous quarter but down 1.6 percentage points year-on-year. Operating margin was 1.8%, down 4.7 percentage points quarter-on-quarter and 15.3 percentage points year-on-year. Net profit after tax was NT$1.355 billion, down 8.7% from the previous quarter, but turned profitable compared to a loss in the same period last year, with EPS at NT$2.51.

Catcher explained that component shortages affected notebook product shipments, dragging down second-quarter revenue performance. Additionally, increased R&D expenses further impacted gross and operating margins.

Cumulative first-half revenue was NT$6.455 billion, down 31.6% year-on-year. Gross margin was 28.8%, down 3.8 percentage points year-on-year. Operating margin was 4.5%, down 13.5 percentage points year-on-year. Net profit after tax was NT$2.84 billion, up 54.1% year-on-year, with EPS at NT$5.14.

Looking ahead to the second half, regarding notebooks, Catcher noted that key component shortages are unlikely to improve in the short term, and the market generally expects double-digit declines in notebook shipments this year. On AI-related projects, Catcher stated that partial AI projects began mass production in July and are expected to drive monthly revenue growth. The company is optimistic that AI business will make a more significant contribution to second-half revenue.

Catcher mentioned that in addition to ongoing shipments of existing AI products, newly developed projects are expected to enter mass production sequentially starting in Q1 2027. AI PC-related products are also expected to begin mass production in Q2 next year, further boosting operational growth momentum.