KUALA LUMPUR (Oct 29): Mi Technovation Bhd (KL:MI) posted record earnings in the third quarter ended Sept 30, 2026 (3QFY2026), driven by higher sales volume, improved average selling prices and optimised product mix.

The semiconductor equipment and materials group’s net profit for 3QFY2026 surged 84.8% to RM66.84 million from RM36.16 million a year earlier.
 
Revenue for the quarter rose 29.9% to RM256.04 million from RM197.06 million, driven by strong growth in its semiconductor material business, which more than double its revenue to RM154 million from RM73.6 million, on robust customer demand and higher sales across all segments.

The group’s net profit margin also improved to 26.1% from 18.4% a year earlier.

Despite posting record quarterly earnings, Mi Technovation did not declare any dividend.

For the nine months ended Sept 30, 2026 (9MFY2026), the group’s net profit more than doubled to RM153.02 million from RM69.75 million a year earlier, an increase of 119.4%. Revenue for the period grew 38% to RM649.82 million from RM470.73 million.

Looking ahead, Mi Technovation expects revenue from its semiconductor equipment business to grow at a double-digit rate year-on-year in FY2026, supported by sustained demand from the mobility and wearables, high-performance computing (HPC) and memory segments.

Revenue from its semiconductor material business is also expected to strengthen further in the fourth quarter.

“While management is mindful of the dynamic currency and geopolitical environment, we remain vigilant in driving forward with strategic agility and disciplined execution to seize the emerging opportunities ahead,” the group said.

On Thursday, Mi Technovation shares closed four sen, or 0.58%, lower at RM6.86, giving the group a market capitalisation of RM6.17 billion.