[Click eStock] "Park Systems Delivers Surprise Q1 Results... Accelerates Growth with Record-High Orders"

On May 9, BNK Investment & Securities analyzed that Park Systems had delivered a surprise performance in the first quarter of this year, significantly exceeding market expectations.

Lee Minhee, a researcher at BNK Investment & Securities, stated, "The company recorded a surprise performance in the first quarter due to strong shipments," and analyzed, "It appears that the robust new orders in the second half of last year were reflected in sales earlier than expected."

Park Systems' first-quarter revenue was 50.9 billion KRW, a decrease of 20% compared to the previous quarter, but an increase of 98% year-on-year. Operating profit was 13.2 billion KRW, down 21% from the previous quarter but up a remarkable 2,481% compared to the same period last year. These figures exceeded market consensus by 33% for revenue and 119% for operating profit. Most of the revenue came from NX-wafer equipment for semiconductors, and one Hybrid WLI unit was also included.

New orders also reached a record high on a quarterly basis, continuing the company's strong performance momentum. Researcher Lee Minhee explained, "New orders in the first quarter are estimated at around 60 billion KRW, which is expected to surpass the previous quarterly record of 59 billion KRW in the first quarter of last year." She added, "These orders include several Hybrid WLI units for overseas non-memory semiconductor customers, indicating that sales are growing significantly, following last year's trend."

Additionally, there were orders for NX-TSH equipment for advanced packaging from overseas semiconductor customers in the second half of last year, and these orders are expected to expand further this year. As a result, the total amount of new orders for this year is likely to comfortably reach BNK Investment & Securities' previous estimate of 217.5 billion KRW, which represents an 18% increase year-on-year. As of the end of the first quarter, the order backlog stood at about 70 billion KRW, and second-quarter revenue is projected to be 45.8 billion KRW, a 3% increase compared to the same period last year.

Researcher Lee Minhee commented, "In the long term, semiconductor equipment investment in China is expected to continue growing, so revenue growth centered on NX-wafer equipment is likely to persist." She also positively assessed, "Additionally, the global growth of AI semiconductors is driving a full-scale increase in demand for the company's NX-Mask, NX-Hybrid WLI, and NX-TSH equipment."