Memory IC design company Patch Technology will list on the Emerging Stock Board at a high price, welcome news for investors and the AI memory supply chain, though genuine mass-production results will not arrive until 2027.

• Patch Technology, an affiliate of Nanya Technology, begins trading on the Emerging Stock Board on September 16 at a reference price of NT$740 per share.
• As AI models grow ever larger, demand for high-bandwidth, low-latency, low-power memory has surged — precisely the market Patch Technology is targeting.
• Growth has been strong: revenue nearly doubled last year, and first-half revenue this year was more than triple the same period a year earlier, with profit rising in step.
• Some 40% of current revenue comes from custom design services; the company plans to raise the share of royalties and mass-production foundry work to make earnings more stable.
• It has formed an alliance with Nanya Technology and is working with several international semiconductor firms and North American customers, with some projects now in the design-verification stage.

Outlook: The share price may swing sharply in the near term on AI-related sentiment, but actual contributions from mass production will not begin to show until 2027.