PETALING JAYA: Mi Technovation Bhd posted a 74% rise in net profit for the first quarter from a year earlier, driven by stronger contributions from its semiconductor equipment and semiconductor material businesses.
Net profit for the three months ended March 31, 2026 rose to RM30.98 million from RM17.8 million in the same quarter last year.
Revenue increased 40.3% year-on-year to RM167.76 million from RM119.55 million, supported by growth in both its semiconductor equipment business unit and semiconductor material business unit.
The group said the improvement was mainly driven by continued expansion in the mobility & wearables segment, as well as higher average selling prices in the AI-related segment.
It said stronger earnings were also supported by effective cost management, higher average selling prices and an optimised product mix.
Looking ahead, the group said it remains cautiously optimistic on prospects for FY26, supported by sustained demand across its advanced packaging and semiconductor materials businesses.
Mi Technovation said its semiconductor equipment business unit expects moderate growth this year, driven by demand for its die sorting and smart binning platforms across the mobility and wearables, high-performance computing (HPC), memory, and automotive segments.
Its semiconductor material business unit also expects stronger demand in the second half of FY26, supported by momentum in the HPC and memory segment, seasonal demand from mobility and wearables, and gradual recovery in the automotive and renewable energy segment.
The group said it will continue to monitor macroeconomic and geopolitical uncertainties, including foreign exchange volatility arising from the strengthening ringgit.
