Core Viewpoint - Hanmi Semiconductor is confident in dominating the increasingly competitive HBM4 (High Bandwidth Memory) TC bonding machine market and has received orders for the next-generation Fluxless Bonder, expected to be delivered in the second half of the year [1][2]. Group 1: Company Performance and Market Position - Hanmi Semiconductor reported a projected sales revenue of 180 billion KRW and an operating profit of 86.3 billion KRW for Q2 2025, representing year-on-year growth of 45.8% and 55.7% respectively, with an operating profit margin of 47.9% [2]. - The company anticipates that if the growth trend continues in the second half of the year, total sales for the year could reach between 800 billion and 1.1 trillion KRW [2]. Group 2: Market Strategy and Customer Base - Hanmi Semiconductor aims to secure all major customers' orders for HBM4 TC bonding machines, leveraging long-term partnerships and accumulated mass production experience [3]. - The company is actively expanding its overseas sales of TC bonding machines, with profit margins in international markets being 30-40% higher than domestic ones [3]. Group 3: Technological Advancements - The company is preparing to deliver Fluxless Bonding machines this year, which will reduce bonding gaps and enable thinner HBM packaging structures [4]. - Hanmi Semiconductor is also developing Hybrid Bonding equipment, which does not use bump connections, aiming to further reduce packaging thickness and improve heat dissipation [4]. - A planned investment of 100 billion KRW is set for a new factory to produce next-generation products, with the Hybrid Bonding machine expected to launch in 2027 [4].

Core Viewpoint - The article discusses the rapid growth and technological advancements in the HBM (High Bandwidth Memory) market, particularly focusing on the TCB (Thermal Compression Bonding) equipment that is crucial for HBM production. The demand for HBM is driven by the surge in AI applications and high-performance computing, with significant market players like SK Hynix and Micron investing heavily in TCB technology to enhance their production capabilities [2][4][21]. Summary by Sections HBM Market Dynamics - HBM is becoming one of the hottest products in the semiconductor industry due to the increasing demand from AI and high-performance computing sectors. SK Hynix holds a dominant 70% market share in HBM, benefiting significantly from this trend [2]. - The TCB bonding machine is pivotal in determining the upper limits of the HBM supply chain, prompting major players like SK Hynix and Micron to increase their investments in this technology [2][4]. TCB Technology Overview - TCB technology addresses challenges faced by traditional flip-chip bonding methods, particularly as interconnect densities increase and spacing decreases. TCB allows for localized heating, reducing thermal stress and improving interconnect quality [3][4]. - TCB processes operate at temperatures between 150ºC and 300ºC, with pressures ranging from 10 to 200 MPa, allowing for higher contact densities compared to traditional methods [4]. Market Leaders and Competition - The TCB bonding machine market is currently dominated by six key players, with Hanmi Semiconductor leading in market share. Hanmi has seen a 639% increase in operating profit, reaching 255.4 billion KRW, largely due to its partnership with SK Hynix [7][8]. - Hanmi Semiconductor has diversified its client base beyond SK Hynix, securing significant orders from Micron, indicating a potential reduction in reliance on a single customer [8][9]. Emerging Competitors - Hanwha SemiTech, a newer player in the market, has begun supplying TCB machines to SK Hynix, raising concerns for Hanmi Semiconductor regarding competition and potential patent disputes [10][11]. - ASMPT from Singapore is also gaining traction, with SK Hynix reportedly testing their TCB machines for advanced HBM products, highlighting the competitive landscape [12][13]. Technological Innovations - The article notes the introduction of new bonding technologies, such as non-conductive film (NCF) and MR-MUF, which are being adopted by major manufacturers to enhance production efficiency and thermal conductivity [5][6]. - The shift towards TCB technology is expected to drive the market size from 461 million USD in 2024 to 1.5 billion USD by 2027, indicating a significant growth trajectory [5]. Future Outlook - The article concludes that while Hanmi Semiconductor currently dominates the TCB market, the competitive landscape is evolving with new entrants and technological advancements. The future of the HBM market will largely depend on the strategic choices made by leading companies like SK Hynix [21][29].

Core Viewpoint - The article discusses Micron's strategic move to establish a dedicated High Bandwidth Memory (HBM) business unit in response to the growing demand for artificial intelligence, aiming to close the gap with HBM leader SK Hynix [1][2]. Group 1: Organizational Changes - Micron has created a new organizational structure consisting of four departments: Cloud Memory Business Unit (CMBU), Core Data Center Business Unit (CDBU), Mobile and Client Business Unit (MCBU), and Automotive and Embedded Business Unit (AEBU) [1]. - The CMBU will focus on providing memory solutions for hyperscale cloud service providers, including customized memory for key clients like Microsoft and AWS [1][2]. Group 2: HBM Product Development - Micron's 12-layer HBM3E has begun shipping, powering Nvidia's B300, indicating progress in their HBM offerings [2]. - The next generation HBM4 is expected to enter mass production in 2026, followed by HBM4E production between 2027 and 2028 [2]. Group 3: Bonding Technology Innovations - Micron is considering the introduction of a new bonding technology called "Fluxless," which is being evaluated by competitors like Samsung [4][7]. - The current manufacturing process uses Non-Conductive Film (NCF) technology, but there are challenges with applying NCF effectively as the number of HBM stacks increases [5][6]. - The industry is moving towards fluxless bonding technology to address reliability issues associated with traditional methods, with various companies participating in quality testing [6][5]. Group 4: Competitive Landscape - Samsung is also testing fluxless bonding technology, aiming for HBM4 completion by the end of the year, indicating a competitive race in HBM advancements [7].