HANMI Semiconductor posts 50% operating margin on HBM bonder demand

HANMI Semiconductor reported 90.8 billion won ($65.8 million) in operating profit on Oct. 30, 2026, lifting its operating margin past 50% on deliveries of advanced memory packaging tools.

The preliminary filing lodged with the Financial Supervisory Service showed consolidated revenue of 181.0 billion won ($131.2 million), rising 8.9% from the third quarter of 2025.

Operating profit surged 33.9% year-on-year, pushing the operating profit margin to 50.2% compared with 40.8% during the same quarter of the previous year.

The quarterly result reflected steady global demand for the company's proprietary dual thermal-compression (TC) bonders, which stack and connect dynamic random-access memory dies in high-bandwidth memory (HBM).

Despite annual expansion, top-line performance eased from the historic peak established during the previous quarter, when revenue reached 251.2 billion won and operating profit totaled 130.3 billion won.

Quarter-on-quarter revenue fell 27.9%, while operating profit contracted 30.3% against the second quarter of 2026.

Equipment shipment timing and foreign exchange shifts drove the sequential contraction, the company said in an explanatory filing.

A strengthening South Korean won reduced export proceeds, while recognition for several completed machine deliveries was deferred into the fourth quarter, the toolmaker said.

Demand for dual TC bonders expanded as memory manufacturers accelerated the deployment of 12-layer and 16-layer HBM3E packages for artificial intelligence accelerators.

Packaging taller memory stacks requires tighter thermal precision and higher bonding pressure, requiring chipmakers to replace older single-head bonders with dual-head systems that double throughput.

HANMI Semiconductor also expanded commercial shipments of large-area TC bonders and flip-chip bonders designed for advanced 2.5D packaging substrates, broadening its product footprint beyond memory stacking.

SK hynix remains the primary customer for the company's bonding hardware, anchoring a supplier relationship that spans more than a decade.

Cumulative equipment sales to SK hynix exceeded roughly 600 billion won over the past 10 years, representing the backbone of the toolmaker's packaging tool installations.

SK hynix presented HANMI Semiconductor with an achievement award on Oct. 30, 2026, recognizing its contributions to commercial HBM production and yield stabilization.

The memory manufacturer relies on dual TC bonders across its domestic manufacturing lines in Icheon and Cheongju to supply HBM assemblies to Nvidia.

HANMI Semiconductor maintains dedicated field support offices in Cheongju and Icheon, deploying a specialized engineering fleet called Silver Phoenix to service operational assembly equipment.

Customer diversification has mitigated the risk of capital expenditure pauses at individual memory producers, following substantial order wins from Micron Technology.

Micron Technology procured thermal-compression bonding systems to equip its pilot lines and volume production facilities in Boise, Idaho, and New York.

HANMI Semiconductor established a wholly owned subsidiary named HANMI USA in San Jose, California, in October 2026 to manage North American client relationships.

The San Jose unit oversees field engineering, technical service and equipment demonstrations for memory fabricators and packaging houses operating across the United States.

Management projected fourth-quarter revenue to reach an all-time quarterly high as deferred tool billings clear and North American equipment shipments expand.

The company expects full-year 2026 revenue to set an annual record, marking three consecutive years of unprecedented sales growth since 2024.

Shareholder distributions will align with earnings growth after the company distributed a final dividend of 800 won per share for fiscal 2025, management said.

Board members intend to authorize an expanded dividend payout for the full 2026 fiscal year following the conclusion of annual audit procedures.

The regulatory filing does not disclose the specific delivery volumes of dual TC bonders shipped to individual memory clients during the third quarter.

The toolmaker has not published exact pricing schedules for its upcoming mild hybrid bonders designed for next-generation HBM4 packaging lines.

Commercial adoption of HBM4 tools will accelerate when memory manufacturers finalize base-die foundry allocations and begin structural tool evaluations during early 2027.