Taiwan Stocks Shine: Four Firms Earn Over 10x Capital in Strongest First Half

Taiwan's stock market has witnessed an exceptional first half of 2026, with listed companies demonstrating remarkable profitability. This surge is largely attributed to the ongoing AI infrastructure boom and a super cycle in the memory industry. A total of four companies have achieved earnings exceeding ten times their capital within the first six months of the year, a testament to the robust performance of the Taiwanese market.

Two of these companies have even set a new record for single-quarter earnings per share (EPS), surpassing NT$100. This unprecedented financial achievement highlights the significant impact of the AI and memory sectors on the Taiwanese economy. The top ten highest earners in the first half of the year are predominantly from the memory and AI server segments, indicating a strong concentration of growth in these areas.

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The four companies earned over ten times their capital in just six months, with two companies setting a new record for single-quarter earnings per share (EPS) exceeding NT$100.

Companies within the memory sector, including Phison, Innodisk, Adata, and Transcend, have benefited immensely from reduced production by major international manufacturers. This has led to a strong rebound in NAND Flash and DRAM prices. These module and controller IC manufacturers leveraged their low-cost inventory to achieve substantial write-backs of inventory devaluation losses and a significant increase in gross profit margins.

The AI server sector also saw impressive gains. Wiwynn, a cloud service provider, reported its highest-ever first-half profit due to strong demand for AI servers. Server rail manufacturer Lotes achieved extremely high gross profit margins on high-end rails, driven by the increased load-bearing and structural specifications for AI server chassis. Server management chip supplier Holtek also experienced strong shipments. Innodisk, specializing in industrial control and edge AI memory, recorded an impressive single-quarter EPS of NT$108.93 in the second quarter, driven by its high-margin product mix. Phison, capitalizing on the NAND chip shortage and price increases, achieved a record-breaking second-quarter EPS of NT$118.57 and a historical high gross profit margin of 65.31%, with its first-half earnings nearly matching its total earnings from the previous six years.

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Phison, benefiting from the NAND chip shortage and price increase trend, not only achieved a historical high quarterly gross profit margin of 65.31% but also saw its second-quarter EPS soar to 118.57 yuan, setting a new record for the highest quarterly EPS in Taiwan's stock market history.