Yesti IR: What Happened?
On August 26, 2025, Yesti presented its 2025 H1 earnings and updates on high-pressure annealing equipment and HBM-related equipment promotions. While semiconductor equipment sales increased by 45% YoY, overall revenue slightly decreased, and operating profit significantly declined.
Why the Sluggish Performance?
The decline in revenue and operating profit is primarily attributed to the slowdown in the display market, increased cost of goods sold, and higher R&D expenses. The possibility of decreased sales from a major client (Company A) further fuels concerns about future performance.
What’s Next for Yesti?
The growing demand for HBM and other AI chips presents a significant opportunity for Yesti. However, the company must address challenges related to its struggling display business and declining profitability. The equipment promotion updates and future strategies announced during the IR are crucial for investors.
- Positive Factors: HBM market growth, technological competitiveness, and potential for overseas expansion
- Negative Factors: Continued weakness in the display business, declining profitability, and macroeconomic uncertainties
Investor Action Plan
Carefully analyze the IR presentation and develop investment strategies from both short-term and long-term perspectives.
- Short-term Investors: Be mindful of potential stock price volatility following the IR announcements. Prepare for both positive and negative scenarios.
- Long-term Investors: Continuously monitor HBM market growth, Yesti’s technological competitiveness, potential for overseas expansion, and the success of its component internalization strategy. Pay close attention to changes in macroeconomic indicators.
Effective risk management requires ongoing monitoring of risk factors, including the display business, profitability, and potential dilution effects.
Frequently Asked Questions
What is Yesti’s main business?
Yesti manufactures semiconductor/display heat treatment and pressure process equipment, semiconductor process infrastructure components, and process components.
What were the key takeaways from the IR?
The key takeaways were the announcement of the 2025 H1 earnings and updates on high-pressure annealing equipment and HBM-related equipment promotions.
What is the outlook for Yesti?
Yesti is expected to benefit from the growth of the AI chip market, but faces challenges related to improving profitability and overcoming weakness in the display business.