IC substrate manufacturer Kinsus (3189.TW) saw a boost in shipments in the third quarter, driven by the launch of new Apple products. Looking ahead to the fourth quarter, Kinsus expects strong demand for ABF substrates from a major U.S.-based AI company starting in December, along with continued demand for Apple products. Additionally, BT substrates and its contact lens business are projected to grow. Analysts estimate Kinsus could see a 5-10% sequential growth in Q4.

In the third quarter, Kinsus posted revenue of NT$8.197 billion, up 12.28% quarter-on-quarter. For the first three quarters, revenue reached NT$22.5 billion, a year-on-year increase of 16.28%.

In terms of product mix, ABF substrates accounted for 43% of revenue, BT substrates 33%, and contact lenses 24%.

For the fourth quarter, ABF substrates are expected to see the largest growth, with an estimated 10% sequential increase, primarily driven by shipments for graphics cards and AI-related applications in December. BT substrates are projected to grow by 0-5%, supported by demand for BT substrates used in new Apple devices and a rebound in memory module demand. The contact lens business is also expected to see a 0-5% sequential increase in Q4.