HANA MICROELECTRONICS Plc. (HANA): Weak Outlook Extending Into Early Next Year
We hold a negative view from HANA’s analyst meeting yesterday; 4Q25 weakness is likely to spill into 1Q26.We cut 2025/26 earnings forecasts 46%/30%...
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HANA MICROELECTRONICS Plc. (HANA): Very Disappointing Results...
The disappointing 3Q25 core profit of Bt38mn (–38% YoY, –75% QoQ) was far below our and the market’s Bt260mn forecast, with GPM at a year low...
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HANA MICROELECTRONICS Plc. (HANA): Remaining Stable, Waiting For New Catalyst
We maintain a Neutral rating with a 2026E fair value of Bt24.00, based on 20x P/E (–0.25SD), as earnings have yet to normalize and the share price...
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HANA MICROELECTRONICS Plc. (HANA): The Share Price Has Largely Priced In Future Optimism
HANA’s profit is expected to enter a recovery phase in 2H25, supported by expectations of reduced losses from PMS and improving orders. We forecast...
258 Views
Hana Microelectronics - Growth Driven by One-Off Gains; Core Business Still Weak
HANA reported a net profit of Bt478mn (+53% YoY), driven by one-off items. Excluding these, the core profit marked at Bt88mn (-75% YoY)
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