Hana Microelectronics Public Company Limited (SET: HANA) reported a robust second quarter for 2026, driven by a powerful recovery in its semiconductor divisions and significant gains in its niche subsidiaries. Net profit rocketed to THB 326 million from THB 35 million in the prior year—representing a jump of more than 830%—while sales revenue grew 3% to THB 5,365 million.
In US dollar terms—a key metric for the export-oriented firm—revenue climbed 5% to $165 million, reflecting a resilient underlying demand despite currency headwinds.
Key Financial Highlights
- Net Profit: THB 326 million (up 830% from THB 35 million YoY)
- Normalized Profit: THB 278 million (up 84% YoY)
- Gross Margin: 10.7% (up from 9.4% in 2Q25)
The earnings narrative was a tale of two segments. The IC (integrated circuit) divisions saw a 16% revenue surge, with Ayutthaya and Jiaxing both posting double-digit growth. Even more impressive were the specialized units: Korea-based Power Master Semiconductor (PMS) saw revenues skyrocket 83%, while Ohio’s Hana Technologies Inc. (HTI) grew by 52%. Conversely, the core microelectronics (PCBA) division saw a 6% decline in USD terms, hampered by an 8% slide in its primary Thailand and China operations.
Operational efficiency underpinned the bottom line, with gross profit margins expanding to 10.7%. While core operations were strong, net profit was further amplified by a favorable swing in foreign exchange, moving from a loss in 2Q25 to a gain this quarter.
HANA’s balance sheet remains firm. The company holds THB 11.2 billion in net cash, providing significant room for expansion. With a current ratio exceeding 3x, liquidity is more than sufficient to cover operational needs.
Looking ahead, management remains focused on customer retention and macroeconomic stability. While growth in specialized semiconductors is promising, the firm remains cautious regarding product price erosion and the cyclical nature of the global electronics supply chain.
