Ample Electronic Technology, a major upstream manufacturer of conductive pastes for passive components, said that the sharp decline in silver has revived downstream customers' ordering momentum. Despite seasonal factors affecting February, the company remains optimistic about strong shipment demand in the first quarter of 2026, likely matching the fourth quarter of 2025 and supporting steady quarterly growth for the full year.
Chairman T. Y. Tseng said the company aims to maintain monthly revenue above NT$200 million (approx. US$6.3 million). Annual performance is expected to sustain double-digit growth, driven by higher silver paste prices, increased penetration of copper paste, and contributions from new semiconductor materials, potentially breaking new records.
In response to silver price fluctuations, Ample's conductive paste products use a fixed processing fee model, with prices adjusted according to customer requirements. When silver prices rise, silver paste product prices increase, prompting customers to adopt a more cautious ordering approach; conversely, a drop in silver prices encourages clients to resume stocking.
Aside from its main revenue source, silver paste, Ample also offers copper paste, new thermal pastes, and alloy pastes. As a result, the overall impact remains manageable. According to Vice Chairwoman Shu-yuan Chuang, new semiconductor materials, including TIM1 thermal paste for chips and heat spreaders and blind-hole filling paste for TGV glass substrates, are entering customer verification stages.
Alloy pastes for high-frequency, high-speed multilayer AI server boards have already been certified and await customer sampling, reflecting the company's continued focus on advanced packaging and high-end application materials. The TIM1 thermal paste is expected to be implemented in customer drone communication systems, with small-volume shipments potentially starting in the second half of 2026. Actual timing will depend on customer rollout schedules and market demand changes.
The current customer base is concentrated among Taiwanese, Chinese, and Korean passive component manufacturers. In recent years, Ample has expanded into semiconductor and AI-related materials, optimizing its product structure to enhance mid- to long-term operational stability. The company anticipates a blue ocean from its new products, with related revenue potentially reaching 5% of total sales in 2026.
Ample's January 2026 revenue reached NT$209 million, surpassing the NT$200 million mark for the first time, up 7.13% month-over-month and 66.06% year-over-year, marking a fifth consecutive month of record highs. In 2025, the company's total revenue was NT$1.906 billion, a 27.8% increase over the previous year, outperforming the industry average. EPS for the first three quarters of 2025 reached NT$4.61.
Article edited by Jack Wu
