Q1 2026 Quarterly Report: HBM Cube Prober Focus, Memory Test Handler Mix Rises to 37%
Original: 분기보고서 (2026.03)
Summary
Techwing filed its Q1 2026 quarterly report (25th fiscal year, Jan 1 – Mar 31, 2026). Product mix shifted meaningfully toward memory test equipment, which rose to 37.0% of revenue from 31.3% in 2025, while non-memory test equipment fell sharply to 1.7% from 5.3%. Parts and peripherals (Interface Boards, COK, upgrades) remain the largest segment at 51.0%. The company highlighted its HBM Cube Prober — a sub-5μm vision-based wafer-level HBM tester — and the TWP300/TWP300H Probe Station as key growth drivers targeting the AI-driven HBM market dominated by SK Hynix, Samsung, and Micron. One non-listed Chinese subsidiary (CK Electronics Technology Nanjing) was liquidated, reducing consolidated subsidiaries from 5 to 4.
Full Translation
Quarterly Report (25th Fiscal Year)
Fiscal year: January 1, 2026 to March 31, 2026
To: Financial Services Commission, Korea Exchange
Date: May 15, 2026
Filing entity type: Listed corporation
Exemption reason: None
Company name: Techwing, Inc.
CEO: Na Yoon-seong, Jang Nam
Head office: 37 Dongtan Sandan 6-gil, Dongtan-gu, Hwaseong-si, Gyeonggi-do
Phone: 031-379-8000
Website: https://www.techwing.co.kr
Person in charge: Jang Nam, CEO (031-379-8000)
[CEO Confirmation Letter attached]
I. Company Overview
1. Company Overview
1. Overview of Consolidated Subsidiaries (Summary)
(Unit: companies)
- Listed: opening 0, increase 0, decrease 0, ending 0, principal 0
- Non-listed: opening 5, increase 0, decrease 1, ending 4, principal 0
- Total: opening 5, increase 0, decrease 1, ending 4, principal 0
*Detailed status: see 'Detail Table-1. Consolidated Subsidiaries Status (Detailed)'
1-1. Changes in Consolidated Companies
- Newly consolidated: none
- Excluded from consolidation: CK Electronics Technology Nanjing Co., Ltd. — Reason: Liquidation
SME and similar classification:
- SME applicable: No
- Venture company applicable: No
- Mid-sized enterprise applicable: Yes
Listing/Registration/Designation status:
- KOSDAQ market listing
- Listing date: November 10, 2011
- Special listing type: Not applicable
2. Legal and Commercial Name
The Company is named '주식회사 테크윙' in Korean and 'Techwing, Inc.' in English. Abbreviated forms are '(주)테크윙' or 'Techwing, Inc.'
3. Date of Establishment and Duration
The Company was established on July 18, 2002. On November 10, 2011 it was approved for KOSDAQ listing and trading commenced.
4. Head Office Address, Phone Numbers and Website
- Head office: 37 Dongtan Sandan 6-gil, Dongtan-gu, Hwaseong-si, Gyeonggi-do
- Anseong facility: 129 Giupdanji-ro, Wongok-myeon, Anseong-si, Gyeonggi-do
- Asan facility: 118 Asanvalley-ro 387beon-gil, Eumbong-myeon, Asan-si, Chungcheongnam-do (777 Sinhyu-ri, Eumbong-myeon)
- Phone: 031-379-8000 (Head office), 031-678-8000 (Anseong), 041-536-7000 (Asan)
- Website: https://www.techwing.co.kr
5. Main Business
The Company manufactures and sells various semiconductor test/inspection equipment, components, and peripheral devices. Inspection related to semiconductor performance has grown in importance alongside advances in semiconductor manufacturing technology; recently, inspection processes have expanded due to longer inspection times and increased defect issues. The Company provides a variety of inspection solutions across the entire semiconductor back-end process tailored to customer needs.
■ Main Product 1: Semiconductor Test Handler (Memory + Non-Memory + Module/SSD)
A critical inspection device that, in the back-end Final Test and Module/SSD inspection processes, transports semiconductor devices to the tester, provides the test temperature environment, and judges and sorts pass/fail based on tester results. Starting from Memory Test Handlers, the Company expanded into Non-Memory Test Handlers, and continued growth is expected as customers increase investment in Module/SSD inspection. Recent advances in semiconductor manufacturing have lengthened inspection times and introduced new inspection processes, further expanding the importance of this equipment.
■ Main Product 2: Burn-In Equipment (Burn-In Chamber)
The Company added Burn-In Chambers and Sorters — burn-in process equipment — to its previously Final-Test-limited supply range. Burn-in is a reliability test process that applies stresses (long duration, high temperature, high voltage, water injection) to remove products vulnerable in lifespan and reliability. Starting with overseas SSD burn-in equipment supply, the Company plans to expand into DRAM and non-memory burn-in equipment.
■ Main Product 3: Wafer Inspection Equipment — Probe Station
Probe Station is automated equipment that connects wafers to testers and inspects electrical characteristics via electrical signals. The probe station market is effectively dominated by Japanese players such as Tokyo Electron (TEL). Successful mass-production supply by the Company would deliver significant import-substitution effects. The Company aims to enter mass-production lines with its flagship TWP300, then expand market share with the second-generation vision-technology TWP300H.
■ Main Product 4: HBM Test Equipment — Cube Prober
HBM is an innovative memory technology used in high-performance computing systems. With the rapid growth of the AI market and the resulting essential demand for data processing, HBM demand is surging. The HBM market is currently led by global semiconductor companies including SK Hynix, Samsung Electronics, and Micron. The Company's HBM test equipment Cube Prober is developed for precise full-unit-level testing of HBM. Using precision vision technology, it streamlines process flow versus competitors. Normally, after good-die wafer inspection inside a handler, circuits are connected and the device moves through loader, unloader, and COK (chip-carrying trays) processes for testing; the Company's Cube Prober — based on sub-5μm vision precision — skips these steps and transfers the wafer directly to the chuck. The Company plans to lead the HBM test equipment market with its product and competitiveness advantages.
■ Main Product 5: Components and Peripherals
The Company generates additional revenue through ongoing component supply after equipment sale. COK (Change over Kit) must be replaced as the inspected device changes, generating recurring revenue. Revenue scale has grown steadily with installed equipment growth and continual semiconductor technology changes. Parts are also continuously replaced as equipment ages. Additionally, in the final inspection stage, Interface Boards (Test Boards) used with the Test Handler and Tester evaluate the device's electrical functions and characteristics; the Company provides a total solution combining Handler + Interface Board.
[Revenue Mix by Product]
- Semiconductor Inspection Equipment
- Memory inspection equipment: Q1 2026 37.0% / 2025 31.3% / 2024 30.8% / 2023 30.3% / 2022 31.2%
- Non-memory inspection equipment: 1.7% / 5.3% / 12.8% / 3.6% / 16.1%
- Other inspection equipment: 1.8% / 1.3% / 2.0% / 5.9% / 3.8%
- Components, etc.*: 51.0% / 55.2% / 42.8% / 45.9% / 36.2%
- Subtotal: 91.5% / 93.1% / 88.4% / 85.6% / 87.3%
- Display inspection equipment: 8.5% / 6.9% / 11.6% / 13.9% / 8.0%
- PCB (design, etc.): - / - / - / 0.4% / 4.7%
- Consolidated total: 100.0%
*Components include Interface Boards, COK, Parts, and equipment upgrade revenue.
For details on main business, refer to 'Business Contents' in this filing.
2. Company History
[Translation truncated]
Past performance does not guarantee future results. Small sample sizes may not be representative. For informational purposes only.