Management remarks
Call period: 2026 Q2 · 2026-07-29
Guidance: President of Corporate Center: Due to schedule acceleration and investment expansion, 2026 capital expenditure is expected to reach the high KRW 40 trillion range.Demand and orders: President of Corporate Center: Under constrained supply conditions, industry DRAM demand is projected to grow by approximately 25% and NAND demand by approximately 18%.Margins: CFO: Second-quarter operating margin was 76%, four percentage points higher than in the first quarter.Analyst Q&A
Analyst S. K. Kim, Daiwa Capital Markets asked: Some investors believe competitors have made rapid progress in HBM. What differentiates SK hynix's HBM4 and supports the company's ability to maintain its HBM leadership? Management Head of HBM Sales and Marketing answered: HBM4 competitiveness depends not only on performance, but also on supplying at scale with stable yield and consistent quality. We began mass production for key customers in the second quarter, with yield and quality approaching mature HBM3E levels. HBM4E samples have also been delivered, and volume production is targeted to begin in 2027. Our integrated-cooling IHBM technology is expected to reduce thermal resistance by more than 30% for future products such as HBM5.管理层陈述
电话会期间：2026 Q2 · 2026-07-29
指引：企业中心总裁：因日程加速及投资扩张，2026年资本支出预计处于40万亿韩元区间高位。需求与订单：企业中心总裁：在供应受限的情况下，行业DRAM需求预计增长约25%，NAND需求预计增长约18%。利润率：首席财务官：第二季度营业利润率为76%，较第一季度高出4个百分点。分析师问答
大和资本市场分析师S.K.金提问：部分投资者认为竞争对手在高带宽内存（HBM）领域进展迅速，SK海力士的HBM4有何独特优势，以及公司维持HBM行业领先地位的能力依托何在？高带宽内存销售与营销负责人回应称：HBM4的竞争力不仅取决于性能，还取决于规模化供货、稳定良率与一致品质。公司已于第二季度为核心客户启动量产，良率与质量接近成熟的HBM3E水平；HBM4E样品已交付，目标2027年启动量产，集成冷却IHBM技术预计可将HBM5等未来产品的热阻降低30%以上。This earnings research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报研究基于公司业绩公告、监管文件、财务报表，以及财报电话会议记录或官方回放整理。内容仅供参考，不构成投资建议。
