[Featured Stock] Oros Technology, Hidden HBM Beneficiary... Equipment to Improve HBM Yield Up

Oros Technology, a supplier of overlay measurement equipment for semiconductor processes, is showing strong performance.

As of 2:02 PM on the 13th, Oros Technology is trading at 27,000 KRW, up 12.03% from the previous day.

Byun Woon-ji, a researcher at Hana Securities, explained, "Overlay equipment application is expanding not only in the front-end process but also in the back-end process (TSV). Oros Technology's package equipment is used to measure the alignment and size of the lower pattern and bump pattern in the TSV process."

He added, "This equipment was delivered to major domestic customers in 2011," and "As domestic memory companies expand their facility capabilities for HBM, expectations for sales volume of Oros Technology's package overlay equipment are increasing."

Furthermore, he emphasized, "The back-end process equipment market is still smaller compared to the front-end process market, and there has been little investment in the TSV process in the past, making it difficult to estimate how many units of equipment will be needed for the TSV process in the future," but "we believe demand for measurement equipment will increase to improve production yield in HBM."

Researcher Byun analyzed, "Due to U.S. sanctions against China, it has become difficult to sell KLA products, a competitor of Oros Technology, in the U.S., which is expected to indirectly benefit Oros Technology." He said, "Oros Technology has experience receiving orders from major Chinese memory companies such as JHICC (DRAM) and CXMT (DRAM)," and "Chinese customers who find it difficult to purchase KLA products are showing increased interest in Oros Technology's equipment."

He emphasized, "Sales of the new Thin-film equipment are expected to begin in 2025," and "Oros Technology's main product, the 12-inch overlay equipment, was only used limitedly in the exposure process, but Thin-film equipment is used in various processes, so quantitative growth is expected."

This year, sales are expected to achieve a maximum with a low-high pattern. It is estimated that sales in the second quarter reached 10.4 billion KRW, a 99% increase compared to the same period last year.