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NDR Review: Enters transition to NAND → DRAM

[NDR’s key point]

1) Beyond NAND, DRAM-scented sales growth including HBM enters

Normally, the company’s performance is linked to the NAND industry. This is because the number of pinholes required for probe card DRAMs is higher than that of NAND, and both domestic and Japanese probe card companies, which are the company’s main customers, have a portfolio centered on NAND

As a result, the worst performance was recorded along with the deterioration of NAND business as of ’23

However, the company’s DRAM-scented sales are on the rise, with 980 million won in 2021 → 720 million won in 2022 → 3 billion won in 2023 → 1Q24 1.7 billion won. This is due to the effect of falling water due to the expansion of product lines and customer companies by probe card companies, which are major customers.

In ’21~’22, DRAM sales were generated only through Samsung Electronics’ DRAM test through KI. From ’23 KI » Samsung Electronics Final Test, TSE » Greater China, JAN » Micron DRAM, Micro-to-Nano » SK Hynix succeeded in diversifying sales through burn-in test

In addition, 1Q24 has two key changes in DRAM-scented sales

1) Successfully supplied probe card ceramic STF for micron HBM3 via JAM
2) Technoprobe, a non-memory probe card company, adopted the company’s ceramic STF in the process of pursuing business diversification with DRAM.

Currently, Samsung Electronics is planning to mass-produce HBM-scented probe cards, and Technoprobe’s vertical probe cards are expected to show strength as HBM requires a smaller pitch than conventional DRAMs. If Pecnoprobe succeeds in HBM-scented probe cards for Samsung Electronics, it is expected that sales of the company’s ceramic STF DRAM will grow further.

Overall, DRAM-scented sales are expected to grow to around 10 billion won this year, and the growth of the company’s DRAM-scented sales is expected to continue with the additional entry of DRAM and HBM-scented customers