MPI Earns NT$14.35 per Share in First Half, Projects Double-Digit Revenue Growth for Year but Warns of Forex Impact

MPI Corporation (6223), a leading probe card manufacturer with shares trading above NT$1,200, reported a 28% increase in net profit for Q2 2024, with earnings per share (EPS) reaching NT$6.67. Cumulative EPS for the first half hit NT$14.35. The company attributes this performance to strong AI and HPC demand but cautioned that the appreciating NT dollar poses challenges. While full-year revenue is expected to grow by double digits, short-term profitability may be affected by currency fluctuations. Looking ahead to 2025-2026, MPI anticipates further profit growth driven by ASIC market expansion and capacity ramp-up.

MPI's Q2 revenue reached NT$3.292 billion, up 38% YoY and 16.3% QoQ. Gross profit stood at NT$1.919 billion with operating income at NT$1.079 billion, representing YoY increases of 48% and 81% respectively. Compared to Q1, gross profit grew 18% while net profit rose 28%, yielding quarterly EPS of NT$6.67.

First-half 2024 results showed total revenue of NT$6.121 billion, gross profit of NT$3.54 billion, and operating income of NT$1.919 billion - up 38%, 52%, and 95% YoY respectively. H1 EPS reached a record NT$14.35.

The global semiconductor demand surge, fueled by AI, big data, 5G, and autonomous driving technologies, has particularly intensified needs for high-performance computing and high-speed data transmission. This trend positions testing solutions as critical, with precision and speed under high-frequency demands becoming key industry challenges.

MPI's advanced testing technologies in high-speed and fine-pitch applications have secured its position in international clients' supply chains. The company plans to accelerate capacity expansion and deepen collaborations across emerging applications.

Beyond volume production testing solutions, MPI's semiconductor engineering test equipment has emerged as another growth driver, specializing in precision measurement tools for chip development phases. Additionally, the AI revolution's computational demands have exponentially increased data transmission requirements. To address this, the industry is adopting silicon photonics technology using light-based signal transmission. Testing these photonic chips requires integrated optoelectronic signal measurement - a highly challenging domain where MPI is actively collaborating with clients on R&D initiatives.