WIN Semiconductors
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WIN Semiconductors (3105) investor relations material

WIN Semiconductors Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2026 earnings summary30 Apr, 2026

Executive summary

  • 1Q26 consolidated revenue reached NT$4,590mn, up 28% YoY and slightly above expectations, but down 4% QoQ.

  • Net income attributable to the parent was NT$533mn, a significant increase from NT$16mn in 1Q25, with EPS of NT$1.26, both showing substantial YoY growth.

  • Fab capacity utilization remained flat QoQ at 60%.

  • The company divested Win Lux Biotech Co., Ltd. in January 2026, recognizing a disposal gain.

Financial highlights

  • Gross margin for 1Q26 was 26.3%, up from 16.7% YoY but down 5.5pp QoQ.

  • Operating margin was 9.4%, down 4.5pp QoQ.

  • Net margin was 9.8%, a decrease from 20.0% in 4Q25 but up from -1.8% in 1Q25.

  • Operating income reached NT$431mn, reversing a loss of NT$217mn in 1Q25.

  • Book value per share at quarter-end was NT$85.68.

Outlook and guidance

  • 2Q26 consolidated revenue expected to increase by mid-teens percentage QoQ.

  • 2Q26 gross margin projected to be in the high twenties.

  • The board approved a private placement of up to 40 million shares to fund capital expenditures, R&D, and working capital.

  • IFRS 18 adoption is expected in 2028, with ongoing evaluation of its impact.

Product mix factors behind the 1Q26 GM decline
Drivers for the NT$884mn CAPEX spend in 1Q26
Growth outlook for the optical product segment
Impact of hog price changes on operating costs
Planned use of private placement share proceeds
Terms of borrowings from key management personnel
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