As AI Chips Grow More Powerful, Testing Becomes More Complex! Hanmin Test Reports H1 Revenue of NT$2.185 Billion, Doubling Year-on-Year, with Gross Margin Rising to 54.88%, July Revenues Hit New Record High

AI and high-performance computing (HPC) chips continue advancing toward higher performance and power consumption, boosting demand for advanced processes and packaging technologies while simultaneously introducing new challenges in wafer testing—such as heat dissipation, wafer warpage, and equipment integration. Semiconductor wafer test solution provider Hanmin Test Systems (7856, hereinafter 'Han-Che') benefited from global capacity expansions by wafer foundries and OSATs, reporting H1 2026 revenue of NT$2.185 billion, a 114.50% year-on-year increase. Post-tax net profit reached NT$584 million, up 389.36% annually, with earnings per share (EPS) at NT$21.50, setting new historical highs for both revenue and profitability.

Not only did Han-Che double its H1 revenue, but its profit growth significantly outpaced revenue growth. H1 gross profit amounted to NT$1.199 billion, a 155.62% annual increase, with gross margin improving from 46.05% in the same period last year to 54.88%, an 8.83 percentage point rise. Operating profit reached NT$734 million, up 446.67% year-on-year, while operating margin surged from 13.18% to 33.59%, an increase of 20.41 percentage points.

Compared to the same period last year—when post-tax net profit was NT$119 million and EPS was NT$5.02—this year’s H1 figures rose sharply to NT$584 million and NT$21.50 respectively, demonstrating that profit growth has accelerated even faster than revenue expansion.

In the second half, Han-Che’s business momentum continues to strengthen. July 2026 revenue hit NT$483 million, up 11.22% month-on-month and 220.69% year-on-year, setting a new all-time monthly high. Cumulative revenue for the first seven months of the year reached NT$2.668 billion, up 128.18% year-on-year—already surpassing the full-year 2025 revenue of NT$2.425 billion. In other words, Han-Che’s first seven months of 2026 generated NT$243 million more than the entire 2025 fiscal year, approximately 10% higher.

The company stated that strong growth across its three core business segments—probe cards and cleaning materials, test equipment engineering services, and semiconductor equipment and custom products—has been the main driver behind its expanded operations.

Rising AI Chip Power Consumption Creates Heat Dissipation and Wafer Warpage Challenges in Testing

This surge in demand reflects increasingly complex testing environments due to the rising performance and power draw of AI chips. Beyond verifying chip functionality and electrical performance, wafer testing must now contend with massive heat generation during testing of high-power chips, as well as potential wafer warpage caused by thermal stress—all of which can affect probe contact, measurement stability, and test accuracy.

According to Han-Che General Manager Wang Zijian: "As AI and high-performance computing (HPC) chips continue advancing toward higher performance and higher power consumption, wafer testing environments are becoming increasingly complex, driving customer demand for diverse test solutions."

To address these issues, Han-Che continues developing multiple customized products, including thermal management modules for high-power testing and wafer chucks designed to mitigate warpage. The thermal management modules primarily respond to temperature control needs during high-power chip testing, while the wafer chucks focus on minimizing the impact of wafer deformation on test stability. These products have already become one of the company’s key growth engines.

Customer Capacity Expansion Drives Equipment Installation and Fuels Retrofit & Maintenance Opportunities

Beyond custom products, test equipment engineering services are another major contributor to Han-Che’s operational growth. The company has long partnered with Japanese equipment manufacturers, providing technical engineering services such as installation, relocation, retrofitting, and maintenance for wafer probe testers.

As wafer foundries and OSATs continue expanding advanced process and test capacities, equipment demand rises, driving initial machine installation and relocation activities. As the customer base of installed machines grows, this further generates ongoing retrofitting, repair, and technical service demands—extending the benefits of capacity expansion from one-time installations into sustained service markets.

Han-Che stated that through diversified operations—including probe cards and cleaning materials, test equipment engineering services, and semiconductor equipment and custom products—it continues deepening customer relationships and optimizing its revenue structure. As the company has not yet issued a full-year financial forecast, future performance will depend on the expansion progress of AI and HPC customers, demand for high-power testing, and the volume ramp-up of custom products.