Gudeng Expects Second-Half Revenue Growth; Advanced Packaging Carriers to Enter High-Speed Growth Within Two Years — BigGo Finance

Semiconductor critical carrier leader Gudeng Precision Industrial (3680.TW) presented at the Taipei Exchange earnings conference on the 27th, delivering an optimistic outlook for second-half operations. Benefiting from strong shipment momentum in extreme ultraviolet (EUV) pods and wafer carriers (FOUPs), production capacity remains fully utilized, and second-half revenue is expected to outperform the first half. Advanced packaging carriers began small-volume shipments in the second half, and the company expects the segment to enter a rapid growth phase over the next two years.

Gudeng’s cumulative revenue for the first seven months of this year has grown nearly 30% year-over-year, driven primarily by strong EUV-related product shipments both in Taiwan and overseas, along with increased lithography equipment shipments as customers continue expanding capacity. The company stated that production capacity remains at full utilization, with shipment volumes and revenue expected to remain highly favorable through year-end.

On a monthly basis, Gudeng’s July revenue reached NT$871 million (approximately $27.5 million), up 15.81% month-over-month and 71.69% year-over-year, setting a record high for the period. Cumulative revenue for the first seven months reached NT$5.05 billion (approximately $159.2 million), up 29% year-over-year, also a record high for the same period. Within the product mix, EUV pods remain the fastest-growing category. Gudeng holds the highest global market share in this segment, and as overseas advanced-node EUV capacity expands, procurement scale from major overseas customers has increased, driving simultaneous revenue growth in both photomask carriers and wafer carriers.

Regarding advanced packaging, Gudeng noted that while the segment’s revenue contribution remains relatively low, sales have already doubled compared to last year. Small-volume shipments began in the second half, and validation results have “exceeded customer expectations,” with Taiwan market shipments expected in the second half. The company is optimistic that advanced packaging product growth will accelerate significantly over the next two years. For panel-level packaging carriers, Gudeng has been progressing in line with customer timelines and noted that developments are “proceeding quite well.”

Multi-Front Overseas Expansion

In the Japan and South Korea markets, Gudeng stated that this year’s related revenue has already reached 70% of last year’s full-year total. South Korea composite product validation has entered its final stage, with trial production currently underway. Given the longer certification timelines for composite products, related testing has been conducted with greater caution, and small-volume shipments are expected as early as next quarter. Existing South Korean logic and memory customers have expanded their FOUP adoption scope, with the wafer carrier product line extending from a single item to more application nodes. In the Greater China market, dozens of customers have completed validation and trial production, with volume orders arriving progressively and first-half contributions already increasing.

The U.S. expansion has entered its next phase. Gudeng began developing its aerospace business in 2020, with products evolving from critical hydraulic system components to flight control, engine, and fuel system metal machined parts, as well as aircraft interior plastic injection molding. The company noted that aerospace revenue has grown 60% over the past two years, with orders continuing to increase and new product validations ongoing. The initial component processing plant in Arizona, USA, is nearing completion, with aerospace product origin validation beginning next month and trial production starting in Q4. The company aims to leverage U.S.-based production capacity to deepen cooperation with major U.S. aerospace customers while also supporting semiconductor customers’ needs in the United States.

Group Subsidiaries Growing in Tandem

The group’s equipment segment is also adding to second-half shipment sources. Subsidiary Gudeng Equipment posted July revenue of NT$169 million (approximately $5.3 million), up 14.7% month-over-month and 39% year-over-year. First-seven-month revenue reached NT$803 million (approximately $25.3 million), up 12.63% year-over-year. Shipments of advanced photomask cleaning, exchange, inspection, storage, and management equipment extended into Q3, with project demand from advanced logic and DRAM customers adopting EUV technology.

On another front, Gudeng and Nytex Composites have been collaborating on semiconductor materials since 2019, producing high-cleanliness carrier materials that meet stringent specifications and have been adopted in advanced process applications at major wafer fabs. Nytex’s first-seven-month revenue reached NT$1.63 billion (approximately $51.2 million), up 10.87% year-over-year. AI-related business accounted for over 20% of revenue in 2025, with a target of exceeding 30% in 2026.

Looking at the revenue trajectory, Gudeng posted June revenue of NT$752 million (approximately $23.7 million), up 37.93% year-over-year, rising further to NT$871 million (approximately $27.5 million) in July. Advanced process carrier shipments and overseas customer pull-in momentum have extended into the second half. Market analysts note that with the U.S. initial component processing line coming online in Q4, expanded FOUP adoption in South Korea, and advanced packaging carrier validations converting to procurement, the proportion of high-margin products has an opportunity to rise further.

Gudeng’s second-half operational priorities at a glance:

Note: Source is Gudeng’s presentation materials from the Taipei Exchange earnings conference on the 27th and company public disclosures.

Institutional investors noted that Gudeng’s global leadership in advanced process carriers is unlikely to be challenged in the near term. Its high EUV pod market share positions the company to directly benefit from global semiconductor leaders’ capital expenditure expansion in advanced process nodes. If advanced packaging carriers ramp up as expected over the next two years, the segment would open a second growth curve for the company, further optimizing its product mix and gross margin structure.

Overall, Gudeng’s second-half operational momentum is clear: EUV and wafer carriers maintaining full-capacity shipments, advanced packaging carriers beginning volume ramp-up, and U.S. onshore capacity coming online in Q4. The multi-pronged strategy is expected to support continued record revenue performance.