南亚科技Q3营收环比+61.9%、DRAM均价环比涨超60%、毛利率85.7%创新高，但营业利润与净利润略低于市场预期，4Q均价指引继续上涨

[News] Nanya’s 3Q DRAM ASPs Surge Over 60% QoQ as Gross Margin Hits 85.7%; Further Gains Seen in 4Q
Nanya Technology reported strong third-quarter 2026 earnings, driven by surging DRAM prices and robust AI demand. According to MoneyDJ, Nanya reported consolidated revenue of NT$133.65 billion, up 61.9% QoQ. DRAM average selling prices (ASPs) rose more than 60% QoQ, while shipment volume declined by a mid-single-digit percentage.
Gross profit reached NT$114.48 billion, with gross margin rising 6.2 percentage points QoQ to 85.7%. Operating profit totaled NT$106.89 billion, with operating margin increasing 6.3 percentage points to 80%. Nanya said AI infrastructure applications, including servers, networking, storage, and system management, accounted for more than 20% of its revenue.
Tight DRAM Supply Supports Further Price Gains in 4Q26
AI-driven demand is also reshaping DRAM supply and customer procurement strategies. Nanya President Pei-Ing Lee said growing demand from GPUs, TPUs, CPUs, and ASICs is tightening DRAM supply for smartphones, PCs, and other consumer applications, according to TechNews. With supplier inventories remaining low, memory makers are increasingly relying on long-term agreements (LTAs) to plan capacity and product allocation, the report notes.
LTAs currently cover approximately 50% to 70% of Nanya’s business, with durations ranging from three months to three years, according to Central News Agency. Lee said many customers are seeking to extend three-month contracts to three years or longer, while some have expressed interest in taking equity stakes in Nanya to secure capacity.
Tight supply is also expected to support further price increases. Lee expects DRAM ASPs to continue rising in 4Q26, although gains will vary by product, with room for further gross margin improvement, TechNews notes. The report also highlights that Nanya’s ASP increase of more than 60% QoQ in 3Q26 was largely driven by the expiration of older LTAs in June. Negotiated in mid-to-late 2025 when prices were lower, these contracts were fulfilled by the end of June, allowing higher market prices to take effect under new agreements in July.
Meanwhile, Nanya is expanding into AI ASIC memory applications. Lee said projects with U.S. customers have begun small-volume shipments, with further capacity expansion depending on customers’ product development and market demand, according to TechNews.
Nanya Advances Fab Expansion and Next-Generation DRAM Technologies
Regarding its new Fab 5A, Lee said equipment installation is scheduled to begin in the first quarter of 2027, with monthly wafer capacity expected to reach 30,000 wafers by the end of 2028 and 50,000 wafers by the end of 2030, according to Central News Agency. As equipment installation gets underway, Nanya expects capital expenditure to increase in 2027. Lee noted that the company currently holds NT$270 billion in net cash, a balance expected to continue growing, and that internal funds should be sufficient to cover next year’s capital expenditure.
On the technology front, Lee said Nanya’s third-generation 10nm-class (1c) node is expected to enter customer validation in the first quarter of 2027. Development of its fourth-generation (1d) and fifth-generation (1e) nodes, along with extreme ultraviolet (EUV) lithography, is also progressing as planned, as noted by Central News Agency.
Read more
- [News] Nanya DRAM ASP Seen Rising 10% in 4Q26; Winbond Also Sees Further Price Gains as Memory Supply Stays Tight
- DRAM Industry Revenue Rises 59.5% QoQ in 2Q26 as Supply Expansion Continues to Lag Demand Growth, Says TrendForce
(Photo credit: Nanya Technology)