Core Viewpoint - Hanmi Semiconductor reported a significant increase in revenue and operating profit for Q2, driven by the sales growth of its key equipment, the Thermal Compression (TC) Bonder, which is essential for high bandwidth memory (HBM) production [2]. Group 1: Financial Performance - In Q2, Hanmi Semiconductor achieved a consolidated revenue of 180 billion KRW, representing a year-on-year growth of 45.8% [2]. - The operating profit reached 86.3 billion KRW, marking a 55.7% increase, with an operating profit margin of 47.9% [2]. Group 2: Investment and Expansion Plans - The company plans to invest 100 billion KRW in hybrid bonding technology and aims to launch hybrid bonding equipment by the end of 2027 [2]. - Hanmi Semiconductor will construct a hybrid bonding machine factory in Incheon, with an investment of 100 billion KRW, expected to be completed by the second half of next year [2]. Group 3: Product Development - Hanmi Semiconductor has commenced production of the TC Bonder 4, designed for the sixth generation of HBM (HBM4), which offers a 60% performance improvement over HBM3E while consuming only 70% of its power [3]. - The new TC Bonder 4 can stack up to 16 layers of DRAM chips, increasing the capacity from 24 GB to 32 GB per chip [3]. - The company has established a mass production system for TC Bonder 4 to support global memory manufacturers in launching HBM4 [3]. Group 4: Team Formation - A specialized team named "Silver Phoenix" has been formed, consisting of over 50 experienced engineers to support the customization, maintenance, and optimization of the TC Bonder 4 system [4].

Core Viewpoint - In 2024, HBM (High Bandwidth Memory) is expected to be one of the hottest products in the semiconductor industry, driven by the surge in demand from AI and high-performance computing, particularly from companies like NVIDIA. The HBM market is dominated by SK Hynix, which holds a 70% market share, leading to significant profits. However, the TCB (Thermal Compression Bonding) equipment is quietly determining the upper limits of the HBM industry chain, prompting major players like SK Hynix, Micron, and Samsung to increase their investments in this technology [1]. Summary by Sections What is TCB? - TCB is a bonding technology that addresses challenges in traditional flip-chip bonding, particularly as interconnect density increases and spacing decreases. It applies localized heat to interconnect points rather than uniformly heating the entire assembly, reducing thermal stress and improving interconnect strength. Typical process temperatures range from 200°C to 300°C, with pressure levels between 0.5-1.5 MPa [3][4]. Current TCB Market Dynamics - The TCB bonding machine market is currently dominated by six major players, including Korean companies Hanmi Semiconductor, SEMES, and Hanwha SemiTech, as well as Japanese firms Toray and Shinkawa, and Singapore's ASMPT. Hanmi Semiconductor has the highest market share in the HBM TCB bonding machine market, significantly benefiting from its collaboration with SK Hynix [8][9][10]. Hanmi Semiconductor's Position - Hanmi Semiconductor has seen a 639% increase in operating profit, reaching 255.4 billion KRW, due to its exclusive supply of TCB bonding machines to SK Hynix. The company is diversifying its customer base, recently securing a large order from Micron for approximately 50 TCB machines [10][11]. Competition and Market Changes - Hanwha SemiTech, backed by the Hanwha Group, is emerging as a competitor, having begun supplying TCB machines to SK Hynix. This has led to tensions with Hanmi Semiconductor, which has responded by increasing service fees and machine prices to SK Hynix [12][13]. Emerging Technologies - New technologies such as non-conductive film (NCF) and MR-MUF are being adopted by major players like Samsung and Micron, with MR-MUF showing advantages in thermal conductivity and production speed. However, all these processes ultimately require TCB bonding machines, indicating a growing market for this equipment [6][10]. Samsung's Shift - Samsung has shifted its TCB bonding machine procurement from Shinkawa to its subsidiary SEMES, indicating a move towards in-house production capabilities. This transition is expected to improve Samsung's profitability and reduce reliance on external suppliers [18][20]. Market Forecast - The TCB bonding machine market for HBM is projected to grow from $461 million in 2024 to $1.5 billion by 2027, more than doubling in size. This growth is driven by the increasing production scale of HBM and the rising demand for advanced packaging technologies [6][10]. Domestic Developments - The Korean government is reportedly planning to restrict the export of HBM equipment, particularly TCB bonding machines, which could impact the global supply chain. Meanwhile, domestic companies are making strides in high-end packaging equipment, although they face challenges in integrating complex systems [23][24]. Conclusion - The HBM sector remains dominated by Korean companies, particularly Hanmi Semiconductor, which is set to launch a new TCB bonding machine designed for high precision and efficiency in HBM production. Despite the emergence of competitors, the reliance on established players like Hanmi is expected to continue in the high-layer stacking processes [30].