New Kinpo's First-Half Profit Doubles on AI Server Power Upgrades

Power inductor manufacturer New Kinpo (7912) announced a record-breaking first half of the year, with revenue climbing 44.48% year-on-year to NT$702 million and net profit surging 105.88% to NT$4.55 per share. The company's strong performance is attributed to the booming demand for AI servers and high-performance computing (HPC) platforms, which require upgraded power architectures.

New Kinpo highlighted that advanced GPU and ASIC platforms are beginning to enter mass production. This trend is boosting demand for high-current, low-loss, and fast transient response inductors used in CPU/GPU power supplies. The company's production capacity in Zhongshan, China, has already doubled in the first half of the year, with utilization rates remaining high. Further expansion is underway in Thailand, with the first phase of construction expected to be completed by year-end and contribute to revenue in the first quarter of next year.

The company's core products include assembled high-current power inductors (Flat Pac and TLVR), integrated molded power inductors, and power module applications. The TLVR series, specifically designed for AI servers and data centers, is a key growth driver. These components can handle high power and large currents, offering rapid load transient response. The higher price point of TLVR, potentially 50% to 200% more than traditional inductors, combined with their increased usage in AI servers, significantly boosts profitability. New Kinpo anticipates that the rising proportion of high-value products and economies of scale will lead to profit growth outpacing revenue growth.