WT Microelectronics and WPG Holdings: Latest results exploded again!

01 WT Microelectronics and WPG Holdings Post Significant Growth in Latest Results

WT Microelectronics announced its self-consolidated revenue for April 2026 at NT$211.02 billion, hitting a record high in monthly revenue. The figure represented a year-on-year increase of approximately 79% and a month-on-month growth of around 9%. Its cumulative consolidated revenue for the first four months of this year reached about NT$705.293 billion, a year-on-year rise of 92.96%.

Meanwhile, WT Microelectronics recently held its 2026 Q1 earnings conference. The company stated that its consolidated revenue for the first quarter of 2026 stood at approximately NT$494.3 billion, up 44% quarter-on-quarter and around 100% year-on-year. Consolidated operating profit came to roughly NT$9.94 billion, surging 66% quarter-on-quarter and 118% year-on-year. Consolidated net profit attributable to parent company shareholders was about NT$7.01 billion, rising 67% quarter-on-quarter and 159% year-on-year. Exceeding the upper end of the financial forecast of NT$6.49 billion, it set a new all-time high for quarterly profitability.

Cheng Wen-Tsung, Chairman of WT Microelectronics, also indicated during the earnings conference that AI demand remains robust, and cloud service providers continue to raise their capital expenditure budgets. He is optimistic that both revenue and profitability in the second quarter will achieve double-digit growth compared with the first quarter, setting new records continuously.

Looking ahead to the second quarter of 2026, based on the assumption of one US dollar equaling 31.6 New Taiwan Dollars, the median consolidated revenue estimate is approximately 575 billion New Taiwan Dollars, an increase of about 16 percent quarter on quarter and about 122 percent year on year. The median consolidated operating profit estimate is approximately 11.8 billion New Taiwan Dollars, up about 19 percent sequentially and 153 percent from a year ago. The median consolidated net profit attributable to owners of the parent company is estimated at approximately 8.1 billion New Taiwan Dollars, up about 16 percent from the previous quarter and 186 percent year on year.

Regarding WPG Holdings, its April revenue reached 127.34 billion New Taiwan Dollars, an increase of 38.7 percent year on year, marking the second highest monthly revenue and the highest on record for April. Cumulative revenue for the first four months of this year totaled 443.84 billion New Taiwan Dollars, a 30.3 percent increase compared to the same period last year.

WPG Holdings stated that as the global AI infrastructure build-out continues to accelerate, the scale of high-performance computing and large data centers keeps expanding, driving a broad-based increase in electronic component pull momentum across the supply chain. Demand for both AI servers and traditional servers is growing in tandem, which in turn boosts demand for various application components such as high-density storage, high-speed interconnect, memory, power management, and networking. The convergence of diverse demand drivers is creating strong structural growth momentum, further pushing WPG’s performance to maintain a high growth trajectory.

Previously, WPG Holdings reported first-quarter revenue of 316.5 billion New Taiwan Dollars, up 23.9 percent quarter on quarter and 27.2 percent year on year. This not only exceeded the original forecast range of 255 billion to 275 billion New Taiwan Dollars, but also marked the first time the company’s quarterly revenue exceeded the 300 billion New Taiwan Dollars threshold.

02  Performance Since the Beginning of the Year

Overall, from January to April this year, both WT Microelectronics and WPG Holdings delivered excellent performance. WT Microelectronics posted cumulative consolidated revenue of approximately 705.293 billion New Taiwan Dollars for the first four months, representing a year-on-year increase of 92.96 percent. WPG Holdings reported cumulative consolidated revenue of 443.84 billion New Taiwan Dollars for the same period, up 30.3 percent compared to the same period last year.

Looking first at WT Microelectronics. WT Microelectronics' monthly revenues this year were 195.7 billion New Taiwan Dollars (a historical high), 104.4 billion, 194.1 billion (the second highest in history), and 211.0 billion (a historical high), representing year-on-year growth of 151.67 percent, 28.98 percent, 118.87 percent, and 78.7 percent, respectively. The record-breaking performances in January and March also drove the company's first-quarter revenue to a high of 494.273 billion New Taiwan Dollars, an increase of 99.77 percent year on year.

                                                 Wen Yeh Monthly Revenue Summary; Source: Yahoo! Finance

Aside from revenue, the gross margin for the first quarter was 3.45 percent, down 0.29 percentage points quarter on quarter and down 1.13 percentage points year on year. The operating margin was 2.01 percent, up 0.26 percentage points sequentially and up 0.16 percentage points year on year. Net profit after tax was 7.009 billion New Taiwan Dollars, up 67 percent quarter on quarter and 159 percent year on year. Both revenue and profit reached historical highs.

WT Microelectronics stated that its first-quarter revenue and net profit after tax both exceeded the upper end of its financial forecast, mainly benefiting from significant growth in demand for data centers and communication products driven by AI, as well as a steady recovery in non-AI applications such as industrial.

At its latest investor conference on May 7, WT Microelectronics also provided a detailed analysis of each product line:

• In automotive electronics, inventory in Asia has gradually been depleted, while inventory levels in Europe and the Americas are also healthy.
  In industrial applications, the company returned to a growth trajectory starting in the third quarter of last year, and expects continued growth in the second quarter of this year, with a year-on-year increase potentially reaching double digits.
  In the communications business, a high double-digit year-on-year growth rate is also expected. For data centers and servers, driven by strong customer pull-in, performance is expected to double compared to the same period last year. In consumer electronics, as the second quarter is a low season for the mobile phone market, a decline of approximately high single digits is expected compared to the first quarter.

In WT Microelectronics' first-quarter revenue composition, the share of data centers and servers rapidly increased from 32.6 percent in the first quarter of 2025 to 56.8 percent in the first quarter of 2026, and the year-on-year growth rate for this segment in the first quarter of 2026 reached as high as 248 percent, leading all other business areas.

                                                                                                       Source: Wen Ye

Overall, WT Microelectronics is optimistic that AI-related demand will continue to persist, and in the medium to long term, AI technology is expected to further penetrate various aspects, driving demand growth in other applications. In the non-AI field, most inventory levels have returned to healthy to low levels, and demand-related indicators such as the book-to-bill ratio for the European and American markets as well as for industrial and automotive applications all point to a steady and sustained recovery.

However, amid this generally positive trend, there is one noteworthy data point. WT Microelectronics' gross margin for the first quarter was 3.45 percent, compared to 4.58 percent in the same quarter last year, showing a trend of sequential gross margin compression.

                                                                                                          Source: Wen Ye

Turning to WPG Holdings, its monthly revenues this year were 95.2 billion New Taiwan Dollars, 79.7 billion, 141.6 billion, and 127.3 billion, representing year-on-year growth of 44.57 percent, 9.40 percent, 28.58 percent, and 38.74 percent respectively. Among these, March revenue stood out by setting a new record, driving first-quarter consolidated revenue to 316.5 billion New Taiwan Dollars, a new all-time high for a single quarter.

WPG Holdings has not yet held its first-quarter 2026 investor conference. However, at its fourth-quarter 2025 investor conference held in March of this year, WPG Holdings stated that AI is driving rapid growth in computing power demand. The company’s share of computing power-related applications has increased from 35 percent five years ago to 45 percent, becoming an important growth engine. In terms of non-3C applications, the share of the automotive and industrial markets has also risen from 21 percent to 27 percent.

The computing and server segment will be a key growth driver for WPG Holdings’ revenue this year. Furthermore, with the completion of inventory adjustments for consumer products, along with a recovery in demand from the industrial and automotive markets, the positive feedback loop across the overall supply chain is gradually moving from downstream to upstream. WPG Holdings’ performance growth in 2026 is worth anticipating.

Market analysts estimate that WPG Holdings’ full-year 2026 revenue is expected to surpass the one trillion New Taiwan Dollars mark. Although geopolitical and global tariff uncertainties remain, WPG Holdings has effectively diversified risks and captured regional growth opportunities by relocating production capacity and expanding into Southeast Asian and North American markets.

                                                                          Source: WPG Holdings

Additionally, market analysts also pointed out that with the support of AI computing power demand and high-margin LaaS services, WPG Holdings' profit structure will further optimize in 2026. 

It can be seen that WPG Holdings' gross margin in the fourth quarter of 2025 was 4.26 percent, showing a quarter-by-quarter upward trend compared to 3.6 percent in the same period of 2024, in contrast to WT Microelectronics.

                                                                                                                                 Source: WPG Holdings