KUALA LUMPUR (Aug 17): Main Market newcomer SkyeChip Bhd (KL:SKYECHIP) posted a first-quarter net profit of RM13.92 million on a gross profit margin of nearly 42%, supported by robust demand for its proprietary semiconductor solutions across artificial intelligence (AI), high-end performance computing (HPC) and automotive applications.
The integrated circuit designer's revenue for the quarter ended June 30, 2026 (1QFY2027) came in at RM49.62 million, driven almost entirely by its two core business segments: silicon intellectual property (IP) and custom application-specific integrated circuit (Asic). Silicon IP sales contributed about 52.9% of its quarterly revenue, while custom Asic solutions accounted for another 46.9%, its bourse filing showed.
Stripping out its one-off initial public offering (IPO) expenses of RM2.53 million incurred during its listing exercise, the group’s normalised net profit stood at RM16.44 million.
No year-on-year comparative figures were provided as SkyeChip was not required to prepare interim financial reports prior to its listing. The latest results represent the group's second interim quarterly filing following its debut in May. No dividend was declared.In its previous quarter ended March 31, 2026, the group made a net profit of RM31.47 million on revenue of RM58.88 million, with a gross profit margin of 64%.
Headquartered in Penang, SkyeChip is principally involved in integrated circuit design, specialising in proprietary silicon IP and silicon products, including custom Asics. Its IP portfolio includes technologies used in high-bandwidth memory, low-power memory, network-on-chip and die-to-die interconnects.
The US was SkyeChip's largest market during the quarter under review, contributing 54.6% of revenue, followed closely by China at 42.1%. Malaysia and South Korea together accounted for the remaining 3.3%.
The group said its prospects remain healthy, supported by favourable long‑term industry trends. "The group is well positioned to benefit from these trends through its established silicon IP and custom Asic design offerings, while its recent IPO is expected to enhance the group’s corporate profile, strengthen stakeholder confidence and provide sufficient proceeds to support the group’s planned investments and business expansion," it said.
SkyeChip made a blockbuster debut on Bursa Malaysia on May 20 this year. The stock opened at RM3.50 — nearly four times its IPO price of 88 sen — before peaking at RM3.80 and drifting to RM2.21 by the end of trading hours to lock in a 151.1% first-day closing gain.
Its IPO raised RM352 million for the group via the issuance of 400 million new shares with zero offer-for-sale by existing shareholders. Over 60% of the proceeds were earmarked for research and development.
Shares of SkyeChip closed at RM3.25 on Monday, five sen or 1.6% higher than the previous trading day's close, valuing the group at RM5.84 billion. At the current price, the stock is up almost 270% from its IPO price.