Kinsus Interconnect Technology (3189) Corporate presentation summary

Industry overview and market trends

• IC packaging market reached 290 billion units in 2022, with 83.9 billion units in BGA substrates.

• Substrate makers provide critical components such as die attach, wire bonds, solder balls, and conductor traces.

• The supply chain includes IC design, foundry, substrate manufacturing, and OSAT packaging.

• Advanced packaging technologies like CoWoS, CoWoP, and COPOS are highlighted for next-gen applications.

• Glass substrates and photonic interposers are emerging for high-performance and optical applications.

Company profile and operations

• Established in 2000, IPO in 2004, with capital of US$167 million (NT$5,269 million).

• Operates plants in Taiwan, China, and the USA, with major facilities in Xin Wu, Taoyuan, and Suzhou.

• Pegatron holds a 40% stake, Kinsus 30%, and PegaVision 30%.

• Product mix includes ABF substrates, BT substrates, and contact lenses.

• Applications span handsets, consumer memory, base stations, HPC, and contact lenses.

Financial performance and capacity

• Monthly consolidated revenue ranged from NT$2,584 million to NT$4,224 million from Mar 2025 to Jun 2026.

• Quarterly revenue for substrates reached NT$10,382 million in Q2 2026, with gross margin rates around 14–15%.

• Consolidated revenue for Q2 2026 was NT$12,496 million, with a gross margin of 12.7%.

• Capital expenditure for 2024–2026F projected at NT$14,000–16,000 million annually.

• Capacity expansion includes increases in ABF substrate output, especially at Plant 5 and Plant 6.