AI Testing Demand Soars, MEMS Probe Cards Ship in Volume! Wingtech Posts Record-High H1 EPS of NT$38.24, July Revenue Hits New High Again

Demand for AI and HPC chip testing continues to expand rapidly, driving fast growth in the operations of semiconductor test interface manufacturer Wingtech (6515). Today (6th), Wingtech released its Q2 financial report, showing consolidated revenue of NT$6.504 billion in the first half of the year, up 70.27% year-on-year, with earnings per share (EPS) reaching NT$38.24, setting a new historical high for the same period. Entering Q3, growth momentum remains strong, with July revenue climbing further to NT$1.6 billion, breaking the monthly revenue record for the second consecutive month.

However, while revenue grows at a high speed, expansion costs and product mix changes are beginning to affect profitability. Wingtech’s Q2 revenue increased 18.22% quarter-on-quarter, but gross margin declined from 43% in Q1 to 38%, and net profit attributable to parent company decreased by 3.86% quarter-on-quarter. This indicates that the company is accelerating capacity expansion for high-end AI/HPC test sockets and MEMS probe cards, accepting short-term margin pressure.

AI testing demand heats up, H1 EPS of NT$38.24 sets new high for the period

Wingtech’s Q2 consolidated revenue was NT$3.523 billion, up 18.22% quarter-on-quarter and 131.47% year-on-year. Cumulative H1 consolidated revenue reached NT$6.504 billion, up 70.27% compared to the same period last year, with H1 EPS hitting NT$38.24, another record high for the period.

Wingtech stated that “increased customer pull-in and demand from AI application clients” has driven simultaneous shipment growth in both high-end test sockets and MEMS probe cards, with quarterly revenue achieving double-digit sequential growth for four consecutive quarters.

As AI chips evolve toward larger package sizes, higher power consumption, and more contact points, test interfaces must not only handle signal integrity but also address challenges such as heat dissipation, high pin count, and high-frequency/high-speed transmission. This raises technical barriers across wafer testing, final testing, system-level testing, and aging tests, further boosting demand for high-end test sockets and probe cards.

Q2 revenue up over 130% YoY, but profit growth lags behind revenue

Looking deeper into Q2 financials, Wingtech’s operating profit was NT$825 million, up 6.18% quarter-on-quarter and 79.35% YoY; pre-tax net profit was NT$848 million, down 2.97% quarter-on-quarter but up 220% YoY; net profit attributable to parent company was NT$672 million, down 3.86% from Q1 but up 227.8% YoY. Quarterly EPS was NT$18.70, higher than last year’s NT$5.76 but lower than Q1’s NT$19.54.

In other words, while Wingtech’s Q2 revenue grew 18.22% from Q1, operating profit rose only 6.18%, and net profit and EPS slightly declined from the previous quarter. The additional revenue has not yet fully translated into proportional profit growth.

Wingtech’s Q2 operating margin was 24%, down 2 percentage points from Q1 and 6 points from last year; gross margin dropped from 43% in Q1 to 38%, a decline of 5 percentage points, and 11 points lower than last year’s 49%.

High-end test sockets and MEMS probe cards expand simultaneously, pressuring gross margins short-term

Regarding the decline in profitability, Wingtech explained that in addition to product mix changes, the company is actively allocating and upgrading new production capacity for high-end test sockets targeting AI and HPC applications, while also building R&D and manufacturing capacity for MEMS probe cards. These investments have caused gross margin and profits to dip from Q1 levels.

From a financial perspective, Wingtech is currently in a phase of rapidly growing orders and simultaneous capacity expansion. During the initial setup and ramp-up of new production lines, the company still bears equipment, R&D, and production adjustment costs. As capacity utilization improves, the ability to achieve economies of scale will become a key indicator for monitoring gross margin and profitability from Q3 onward.

Wingtech stated that it is continuously increasing R&D investment in the AI and HPC application markets to meet customer demands for ultra-large packages, ultra-high power, and high-pin-count test interfaces. As chip specifications and packaging complexity increase, the value of test interfaces is expanding from simple connection components to integrated capabilities covering signal integrity, thermal management, and reliability.

July revenue hits NT$1.6 billion, two consecutive months of record highs

Entering Q3, Wingtech’s revenue continues to rise. The company’s consolidated revenue in July reached NT$1.6 billion, up 9.6% month-on-month and 155.57% year-on-year. Following June’s record-high revenue of NT$1.46 billion, this marks the second consecutive month of record-breaking sales.

Cumulative revenue for the first seven months of the year reached NT$8.104 billion, up 82.29% year-on-year. The company noted that sustained growth in global AI customers’ demand for high-end testing, increased shipments of high-end products, and gradual improvement in new production capacity collectively drove July’s revenue to another new high.

Notably, while July’s record revenue reflects the success of AI customer pull-in and capacity expansion, without disclosed gross margin or profit figures, whether this translates into improved profitability remains to be verified in future quarterly reports.

Order visibility improves, Q3 outlook hinges on new capacity contribution and margin trend

Looking ahead to Q3, Wingtech stated that with continued improvement in order visibility and the contribution of new production capacity, it expects “performance to remain strong.” The rapid development of AI, high-performance computing, and advanced packaging is making high-end test interfaces a crucial part of the back-end semiconductor manufacturing process.

According to SEMI’s latest market outlook, driven by investments in AI, HBM, 2nm, and advanced packaging, global semiconductor manufacturing equipment sales are projected to grow 23.2% year-on-year in 2026, reaching US$165.9 billion. The packaging and testing industry will also benefit as chip architecture complexity increases.

Overall, Wingtech’s consecutive record highs in H1 EPS and July revenue demonstrate that AI testing demand has already translated into tangible revenue growth. However, the 5-percentage-point sequential decline in Q2 gross margin also reflects short-term pressures from capacity expansion and product mix changes. Going forward, in addition to sustaining revenue growth, the market will closely watch the profitability contribution from high-end test sockets and MEMS probe cards after volume ramp-up, and whether improved capacity utilization can drive gross margin recovery—these will be key indicators for assessing Wingtech’s next phase of operations.