Qinkai’s May revenue hit its second-highest level in history, benefiting from new business opportunities in MLCC and TGV glass substrates

receive New business opportunities for MLCC (multilayer ceramic capacitors) and TGV glass substrates have started. Electronic materials manufacturer Qinkai (4760) announced today that its May revenue rose to 230 million yuan, a monthly increase of 1.8% and an annual increase of 64.8%, setting a record for the second time in history. According to the analysis of Zhuang Shuyuan, deputy director of Qinkai, it is mainly due to the increase in demand for AI and the increase in end customer demand. As the MLCC market situation improves, customer shipments continue to increase. In addition, new business opportunities for TGV glass substrates have been launched, and the company continues to be optimistic about operations this year.

Qinkai’s revenue in the first five months was 1.089 billion yuan, an annual increase of 56.93%, which also hit a record high for the same period in history. Zhuang Shuyuan said that its copper paste products are mainly used in capacitor MLCCs. In the second quarter, copper paste shipments are likely to increase by nearly 50%. As for silver paste end products, which are related to inductors, the sales momentum is also good. In addition, Qinkai has also entered into COWOS advanced packaging TIM1 thermal paste, which can fill the chip and heat dissipation cover. The heat conduction demand between the two also affects the TGV glass substrate blind hole filling paste for COPOS advanced packaging. This is the next generation packaging substrate material market. As for the AI server alloy paste, it acts as the "strong glue and conductive artery" that allows the materials to be perfectly combined. It is expected that the new product will bring new momentum to future operations.

Zhuang Shuyuan bluntly said that this year, as the quotations of raw materials such as silver and copper have risen, the average quotations of passive components such as inductors, resistors, and magnetic beads have been gradually increased by 10% to 15% since April. Downstream customers have begun to strategically prepare materials in advance, and Qinkai’s sales in Taiwan, China and South Korea Passive component customer penetration continues to gradually increase, and copper paste shipments are expected to grow significantly this year. Qinkai's after-tax earnings per share (EPS) in the first quarter of this year was 2.55 yuan, a record high. In April, self-reported earnings per share were 0.88 yuan, maintaining a high-end level.