TrendForce 复述力积电Q3财报：毛利率48%、存储ASP上涨，计划2027年成熟制程再涨价10–20%

[News] PSMC Q3 Gross Margin Surges to 48% on Rising Memory Prices; Eyes 10–20% Mature-Node Foundry Hikes in 2027
Rising memory prices and tight foundry capacity are boosting earnings at Taiwan-based Powerchip Semiconductor Manufacturing Corporation (PSMC). According to TechNews, third-quarter revenue rose 23% sequentially and 80% annually to NT$21.3 billion, while net profit surged 98% and 338%, respectively, to NT$6.5 billion. Gross margin climbed 20 percentage points to 48%.
As highlighted by Liberty Times, PSMC President Martin Chu expects fourth-quarter revenue to grow by double digits sequentially as average selling prices (ASPs) continue to rise. Chu explained that PSMC prices its foundry services when wafers enter production. In the third quarter, completed memory wafers had ASPs more than 30% below those entering production during the same period, indicating that recent price increases have yet to be fully reflected in revenue. Higher-priced wafers are expected to contribute more in the fourth quarter.
Tight Memory Supply Supports PSMC’s DRAM and Flash Business
Global DRAM supply remains tight as major manufacturers shift capacity toward HBM and gradually exit specialty DRAM, keeping PSMC’s specialty DRAM foundry prices elevated, Chu said, according to TechNews. PSMC is also advancing its 1p DRAM collaboration with Micron, with a process design kit (PDK) due by the end of 2026, equipment arriving in 1Q27, and trial production starting in 2Q27, the report adds.
Supply constraints are also creating opportunities in NAND Flash. PSMC’s earnings presentation notes that tight MLC NAND supply is driving demand for high-capacity SLC NAND, with the company shifting its SLC foundry platform to 24nm. Meanwhile, AI servers require three to five times as much NOR Flash per system as conventional servers, benefiting PSMC as the only NOR Flash foundry outside China, the company highlights.
Logic Foundry Price Hikes Extend Into 2027
Beyond memory, tight logic foundry capacity is driving further price increases. According to PSMC’s earnings presentation, wafer input ASPs for its 8-inch and 12-inch logic foundry services rose 8–10% in the third quarter. With capacity constraints persisting, the company plans further price hikes of 10–20% in 2027 and is negotiating long-term agreements (LTAs) to secure pricing and volumes.
Demand for power management ICs (PMICs) remains strong, particularly for AI servers and automotive applications. PSMC has begun shipping 55nm BCD products, with customers seeking three-year contracts to secure supply. Meanwhile, fully utilized foundry capacity in 2026 is squeezing smartphone PMIC production, prompting major handset makers to seek capacity for 2027. PSMC also reports that 80% of its 2027 MOSFET and IGBT capacity is already covered by LTAs, while its GaN products have entered small-volume wafer production pending final customer validation.
AI Packaging Expansion Targets IPDs, Interposers, and Hybrid Bonding
PSMC is expanding its 3D AI foundry business as rising AI server power requirements drive adoption of integrated passive devices (IPDs). According to TechNews, IPD order visibility extends into 2028, with mass production underway on 8-inch and 12-inch wafers. The company is also advancing wafer-on-wafer (WoW) technology using hybrid bonding to meet growing AI inference demand. Small-scale trial production is underway, with mass production targeted for 1H27.
Separately, PSMC’s Micron Post Wafer Finish (PWF) project remains on schedule, with pilot line construction expected to finish by the end of 2026 and mass production planned for 4Q27, as noted by TechNews.
Read more
- [News] PSMC Reportedly Becomes Intel’s Exclusive EMIB Silicon Capacitor Supplier; UMC May See Order Boost
- AI Component Capacity Squeeze and Foundry Output Cuts to Extend Mature-Node Price Increases in 2027, Says TrendForce
(Photo credit: PSMC)