HANA Shares Surge 5.39%, KGI Expects Third-Quarter Profit to Recover to 305 Million Baht

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Summary · why it matters

Shares of Hana Microelectronics Public Company Limited, or HANA, rose 5.39%, trading at 53.75 baht in the afternoon, up 2.75 baht, after touching a high of 54.00 baht during the session, with turnover of 2.39658 billion baht. KGI Securities (Thailand) recommends buying with a target price of 63.00 baht at the end of 2027. It expects core profit in the third quarter of 2026 to recover to 305 million baht, improving both year on year and quarter on quarter, driven by better margins, a smaller loss at PMS after production was shifted to Chinese manufacturers, rising orders from Phononic, and a weaker baht. As a result, core profit for the first nine months of this year stands at 686 million baht, up 67% year on year, accounting for 70% of the research house's full-year profit estimate. KGI also expects core profit in the fourth quarter of 2026 to rise both year on year and quarter on quarter, with a continuously improving trend in 2027, when it forecasts growth of 44% on higher sales and gross margin. It sees earnings continuing to recover on the back of growing AI adoption, after HANA won orders related to cooling solutions, data transmission apps, and solid-state transformers.

Impact on assets 2

Semiconductors▲ · 1 stocks
Financials▲ · 1 stocks

Off-coverage companies 1

PhononicPrivate▲ Positive
Demandrelevance

Rising orders from Phononic are cited as a driver of HANA's expected profit recovery.

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