Mi Technovation is slated to announce its 1QFY26 results on 21st May, and we expect commendable earnings growth of 20-25% YoY, driven by strong performance across both the equipment and material segments. The strong momentum is likely to extend into the 2Q 2026. L
“We raise our FY27-28F earnings forecast by 8-20% to reflect higher sales from the Mi Series and new contributions from the solder ball plant in Senai, Johor. Key re-rating catalysts include i) potential distribution of 15m treasury shares, ii) unlocking the value of Semiconductor Material Business unit with its listing on the Main Board of Singapore Exchange Securities, and iii) earlier-than-expected commercialisation of Vehicle Technologies Business Unit, which could potentially generate revenue of USD200m (RM800m).”
Maintain Outperformwith a higher TP of RM5.05 based on 33x FY27 EPS after rolling over valuations to FY27 EPS.
Source: PIB
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