The Elec EnglishCodex · 实盘可交易 · 做多市场:韩股▼ 亏 -1.89% · 已结算把握 5/10
北京时间·🕒 发布 09:54:31时区推断·⟳ 抓取 09:57:18·⚡ 决策 07-05 10:05:44 +8m26s·114.7 天前
Unitest预计今年扭亏,受益于大中华区存储测试设备、SK海力士HBM4测试机订单和太阳能EPC收入确认
The Elec报道中有公司口径称大中华区客户去年贡献630亿韩元、占收入57%,今年DDR4/DDR5 burn-in tester需求稳定且下半年可能提价,方向直接利多Unitest(086390.KS)。
📄 原文The Elec English↗ 原文
이전 기사보기 다음 기사보기 Unitest Targets Return to Profitability This Year Character Size Settings 가 The body content of the art…
▼ 亏 -1.89%入场 07-06 开盘 @11,160 → 离场 07-07 开盘 @11,008
日 K 取自复盘打分切片 · 蓝点/蓝虚线 = 纸面入场价 · 灰虚线 = 纸面离场 · 持有期红底 = 赚(价格在入场线上方)、绿底 = 亏
💡 交易逻辑The Elec报道中有公司口径称大中华区客户去年贡献630亿韩元、占收入57%,今年DDR4/DDR5 burn-in tester需求稳定且下半年可能提价,方向直接利多Unitest(086390.KS)。
怎么买 集合竞价买入 不高于 12085.5(超上限不成交)
怎么卖 止盈 +8%(半仓)/+15%(清仓) · 止损 -7% · 时间止损 5日
失效/反转 若公司否认全年扭亏目标、SK海力士HBM4设备收入无法在三季度确认,或太阳能EPC四季度收入继续延迟,则退出。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
分时走势
做多 086390.KS Unitest
建仓日早于近 30 天,只有日线图
成交明细 · 纸面
做多 086390.KS Unitest
| 收益状态 | -1.89% 已平仓 |
|---|---|
| 进场成交 | 2026-07-06 · 开盘 · @11160 |
| 离场成交 | 2026-07-07 · 开盘 · @11008.1 |
| 毛收益 | -1.36% |
| 成本 | +0.53% |
| 净收益 | -1.89% |
| 计入收益 | -1.89% |
| 建仓日 | 2026-07-06 · 进场不早于新闻时刻 + 2 分钟 |
| 契约提示 | LIMIT_AND_CHASE |
收益口径 event_time_plus_2min_10min_walk_open_topup_to_next_open_exchange_calendar_fill_model_local_notional_v9 · method_id m8db1cbc8f2d · 截至 2026-10-28 02:30
研究档案
消息传播链
- Unitest在5月已披露约292亿韩元订单,The Elec本次提到的SK海力士HBM4测试机订单并非全新合同。
- Unitest关岛太阳能电站约3950万美元合同已在6月被财经媒体报道,EPC项目本身不是本次首发。
- The Elec引用行业来源和Unitest官方口径,报道公司预计今年越过全年盈亏平衡点,核心增量是全年收入确认和利润恢复框架。市场反应:截至上一交易日086390.KS收11090韩元,当日-3.65%、近20日-21.4%,尚未体现本周末报道后的交易反应。
关键理由
- The Elec报道中有公司口径称大中华区客户去年贡献630亿韩元、占收入57%,今年DDR4/DDR5 burn-in tester需求稳定且下半年可能提价,方向直接利多Unitest(086390.KS)。
- 量级上,Unitest去年收入1102亿韩元、今年盈亏平衡约需年收入1236亿韩元;已披露SK海力士HBM4测试机291亿韩元合同、国内太阳能EPC约500亿韩元 backlog、关岛600.8亿韩元项目分期确认,合计可覆盖其收入基数的较大比例,但收入确认节奏分散。
- 股价近20日下跌21.4%、距60日高点约48%,本次信号并非简单追涨,若周一开盘未大幅跳空,存在小仓修复交易机会。
主要风险
- SK海力士HBM4合同和关岛太阳能合同在5-6月已分别披露,本次新信息的增量主要是全年扭亏预期和收入确认节奏,price-in风险为中等。
- 公司一季度仍亏损25亿韩元,若大中华区设备提价未落地、太阳能EPC许可或验收继续延迟,全年扭亏逻辑会被削弱。
反向证据
- 做多前查反向 · 来源 kb_search · 日期 2026-07-05 · 影响 weakens
未命中Unitest专项重大利空,但报道正文显示一季度收入224亿韩元、营业亏损25亿韩元,扭亏仍依赖后续收入确认。
检索:Unitest recent risks operating loss profitability Korean semiconductor test equipment 2026 - 做多前查反向 · 来源 kb_search · 日期 2026-05-18 · 影响 none
内部库更多命中DI等HBM4测试设备链研报,Unitest专项覆盖不多,说明市场研究扩散度有限但也增加敞口验证不充分风险。
检索:Unitest HBM4 wafer tester SK hynix 29.1 billion won contract May 2026 profitability China DDR5 burn-in tester 原文 ↗
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原文全文
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다음 기사보기
Unitest Targets Return to Profitability This Year
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스크롤 이동 상태바
Supply Chain
Recovery Driven by China Orders, HBM Tester Shipments and Solar EPC Projects
JEONG IL JOO
Published 2026.07.05 10:54
Reply 0
이 기사를 공유합니다
Unitest headquarters. (Photo: Unitest)
Unitest is expected to return to earnings growth this year on the back of semiconductor inspection equipment shipments to customers in Greater China and revenue from its solar engineering, procurement and construction (EPC) business.
According to industry sources on July 3, Unitest expects to move above the annual break-even point this year. The company is targeting semiconductor equipment revenue in the mid-100 billion won range while recognizing revenue from its solar EPC projects before year-end.
A Unitest official said that customers in Greater China accounted for more than 50% of total revenue last year, providing the foundation for the company's earnings recovery. Revenue from domestic solar EPC projects that was delayed due to local government permitting issues will be recognized in the fourth quarter, the official added.
Since last year, Unitest has expanded shipments of burn-in test equipment for DDR4 and DDR5 memory modules to memory manufacturers in Greater China. Of the company's consolidated revenue of 110.2 billion won last year, 63 billion won came from customers in Greater China, representing 57% of the total.
This year, the company expects to maintain revenue from the region while improving profitability. The official said demand for DDR4 and DDR5 burn-in testers remains stable due to customers' facility investments, adding that Unitest is considering raising prices for testers supplied to Greater China in the second half to improve margins.
Sales of wafer testers for sixth-generation High Bandwidth Memory (HBM4) are also expected to contribute to revenue growth. Unitest's HBM4 wafer tester is a burn-in system that verifies the performance and reliability of individual chips at the wafer stage under high-temperature and high-voltage conditions after circuit formation.
The company completed qualification for mass-production lines at SK hynix during the first quarter and signed a 29.1 billion won equipment supply contract in May. Taking into account equipment delivery schedules, the revenue is expected to be recognized in the third quarter. Additional orders are also possible as domestic customers expand capital spending.
Revenue from the solar EPC business is also expected to increase. Unitest currently has approximately 50 billion won in domestic order backlog, including smaller projects that fall below mandatory disclosure thresholds. The company expects to recognize that revenue in the fourth quarter.
In addition, Unitest secured a 60.08 billion won contract on June 11 to build a solar power plant in Guam, US. Revenue from the project will be recognized progressively from this year through the end of 2028.
Unitest previously delivered strong earnings by supplying DDR4 memory testers. However, customer capital expenditure slowed during the industry's transition to DDR5. Instead of ordering new equipment, customers focused on component replacements such as interface board upgrades, resulting in several years of sluggish performance.
For the first quarter, Unitest reported consolidated revenue of 22.4 billion won and an operating loss of 2.5 billion won. Its gross margin stood at 29.91%. The company is estimated to need quarterly revenue of 30.9 billion won, or annual revenue of 123.6 billion won, to return to profitability.
1week@thelec.kr
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다음 기사보기
Unitest Targets Return to Profitability This Year
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스크롤 이동 상태바
Supply Chain
Recovery Driven by China Orders, HBM Tester Shipments and Solar EPC Projects
JEONG IL JOO
Published 2026.07.05 10:54
Reply 0
이 기사를 공유합니다
Unitest headquarters. (Photo: Unitest)
Unitest is expected to return to earnings growth this year on the back of semiconductor inspection equipment shipments to customers in Greater China and revenue from its solar engineering, procurement and construction (EPC) business.
According to industry sources on July 3, Unitest expects to move above the annual break-even point this year. The company is targeting semiconductor equipment revenue in the mid-100 billion won range while recognizing revenue from its solar EPC projects before year-end.
A Unitest official said that customers in Greater China accounted for more than 50% of total revenue last year, providing the foundation for the company's earnings recovery. Revenue from domestic solar EPC projects that was delayed due to local government permitting issues will be recognized in the fourth quarter, the official added.
Since last year, Unitest has expanded shipments of burn-in test equipment for DDR4 and DDR5 memory modules to memory manufacturers in Greater China. Of the company's consolidated revenue of 110.2 billion won last year, 63 billion won came from customers in Greater China, representing 57% of the total.
This year, the company expects to maintain revenue from the region while improving profitability. The official said demand for DDR4 and DDR5 burn-in testers remains stable due to customers' facility investments, adding that Unitest is considering raising prices for testers supplied to Greater China in the second half to improve margins.
Sales of wafer testers for sixth-generation High Bandwidth Memory (HBM4) are also expected to contribute to revenue growth. Unitest's HBM4 wafer tester is a burn-in system that verifies the performance and reliability of individual chips at the wafer stage under high-temperature and high-voltage conditions after circuit formation.
The company completed qualification for mass-production lines at SK hynix during the first quarter and signed a 29.1 billion won equipment supply contract in May. Taking into account equipment delivery schedules, the revenue is expected to be recognized in the third quarter. Additional orders are also possible as domestic customers expand capital spending.
Revenue from the solar EPC business is also expected to increase. Unitest currently has approximately 50 billion won in domestic order backlog, including smaller projects that fall below mandatory disclosure thresholds. The company expects to recognize that revenue in the fourth quarter.
In addition, Unitest secured a 60.08 billion won contract on June 11 to build a solar power plant in Guam, US. Revenue from the project will be recognized progressively from this year through the end of 2028.
Unitest previously delivered strong earnings by supplying DDR4 memory testers. However, customer capital expenditure slowed during the industry's transition to DDR5. Instead of ordering new equipment, customers focused on component replacements such as interface board upgrades, resulting in several years of sluggish performance.
For the first quarter, Unitest reported consolidated revenue of 22.4 billion won and an operating loss of 2.5 billion won. Its gross margin stood at 29.91%. The company is estimated to need quarterly revenue of 30.9 billion won, or annual revenue of 123.6 billion won, to return to profitability.
1week@thelec.kr
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Copyright © The Elec Inc. No unauthorized transfer and redistribution
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Most Read
1
Corning Highlights Glass Bridge for CPO and Glass-Core Packaging
2
Samsung Display Begins Production of OLED Modules for Apple Foldable iPhone
3
Canada Set to Select Submarine Supplier as Hanwha Ocean Makes Final Push
4
Samsung, SK hynix Consider Massive Honam Semiconductor Investment, Raising Questions Over Yongin Plans
5
SK hynix Becomes South Korea's Most Valuable Stock, Surpassing Samsung Electronics
6
Apple to Begin Foldable iPhone Production in July After Resolving Hinge Issues
7
SK hynix Files ADR Registration Statement for Nasdaq Listing
8
Qualcomm Unveils Dragonfly Data Center Platform, Wins Meta Deal
9
Micron's Record Results Quiet AI Bubble Concerns as Operating Profit Hits $33.3 Billion
10
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