Q3 and Q1-Q3 Operations Both Hit Highs
Fanwei Materials (6967) 2026 Q3 consolidated revenue was 418 million, up 8.29% year-on-year, consolidated operating profit 48 million, up 12.32% year-on-year, net profit after tax 38 million, up 8.64% year-on-year, EPS after tax 1.49, up 2.76% year-on-year. Cumulative Q1-Q3 consolidated revenue was 1.238 billion, up 20.84% year-on-year, operating profit 143 million, net profit after tax 105 million, EPS after tax 4.22, up 47.04% year-on-year, with both revenue and profit hitting record highs for the same period in history.
The company said Q1-Q3 operations showed strong growth momentum, mainly benefiting from continued growth in high value-added application demand such as AI servers, high-performance computing (HPC), industrial computers and robots, driving continued volume shipments of its sound-absorbing cotton and thermal materials, and receiving new orders for robot cushioning and thermal insulation materials which have been formally shipped, boosting operating scale, along with product mix optimization and an increased shipment share of high-gross-margin products.
Product Mix Optimization Lifts Gross Margin
Judging from the Q1-Q3 revenue structure, combined revenue from servers, robots, smart home appliances, industrial computers, electric vehicles and automotive parts accounted for 27.70% of total revenue, up 13.54 percentage points year-on-year, driving Q1-Q3 gross margin to 28.30% and operating profit margin to 11.52%.
According to IDC research, global AI infrastructure continues to expand, with the global server market reaching 166.3 billion US dollars in Q2, up 52% year-on-year, a record single-quarter high since IDC began its survey, of which sales of GPU-accelerated servers reached 87.4 billion US dollars, accounting for 52.6% of the global market. The company pointed out that new-generation AI servers demand higher cooling efficiency and electromagnetic shielding, and it will leverage its one-stop integrated capabilities in functional materials R&D and cutting processing to promote upgrades of sound-absorbing, thermal and electromagnetic shielding composite materials, along with flexible allocation of EastSouth Asia overseas capacity. Looking to Q4 and beyond, the company has secured humanoid robot orders from a major US manufacturer, with shipments starting in Q4 and expected to increase significantly from next year, with gross margin for the material estimated at 60%,有望成為最大營收成長動力, while high-end niche applications such as AI server sound-absorbing cotton and high-performance computing will also help structural optimization, with overall revenue next year hoped to grow by 20%.