BlockBeats reported on Aug. 8 that Citrini analyst Jukan expects South Korean PCB and package substrate makers to carry their strong second-quarter performance into Q3, with earnings expectations still improving.
Q2 results showed broad gains across three companies
Jukan pointed to Daeduck Electronics, Simmtech, and TLB as examples of the recent strength.
- Daeduck Electronics posted Q2 revenue of 401 billion won, up 63% from a year earlier. Operating profit reached 70.3 billion won, a 3,599% year-over-year increase.
- Simmtech reported revenue of 514.6 billion won in the same period, up 51% year over year. Operating profit came in at 62.9 billion won, up 1,035%.
- TLB recorded revenue of 88.2 billion won, up 38% from a year earlier, while operating profit rose 86% to 12.8 billion won.
AI server-related products remain central
According to Jukan, Daeduck Electronics’ core edge is in FC-BGA and FC-CSP semiconductor package substrates, as well as multilayer PCB products used in AI data centers. He said Simmtech is focused on package substrates and memory module PCBs, while TLB mainly supplies PCB products tied to server DDR5 and enterprise SSDs.
BT substrate order shifts and SOCAMM are in focus
Jukan said that as industry leaders such as Unimicron in Taiwan prioritize capacity for higher-value ABF substrates and reduce their BT substrate exposure, some BT substrate orders may move to Korean manufacturers. In his view, that could create fresh growth opportunities for Daeduck Electronics and Simmtech.
He also described SOCAMM as a new variable for growth. With Nvidia’s next-generation AI platform, including the Vera Rubin GPU and Vera CPU, nearing the shipment stage, demand for SOCAMM PCBs is expected to rise. Jukan said related suppliers, including Simmtech and TLB, could benefit, adding support to the AI infrastructure supply chain.