Vanguard International Semiconductor (5347.TW) held its Q3 2026 earnings call on November 6, reporting consolidated revenue of NT$15.702 billion (approximately $478.1 million), up 10.2% QoQ and 27.2% YoY, a record quarterly high, driven by strong demand for AI server and smartphone power management ICs. Gross margin was 33.6%, up 1.3 percentage points QoQ. Net income attributable to the parent was NT$3.099 billion (approximately $94.4 million), up 4.2% QoQ and 81.9% YoY, with EPS of NT$1.62, beating NT$1.56 last quarter and NT$0.91 a year earlier. Growth was driven by a 5% QoQ increase in wafer shipments to 751,000 8-inch equivalent wafers, a 3% QoQ rise in average selling prices, and roughly 1% depreciation of the New Taiwan dollar. Capacity utilization rose to 90%, and operating margin reached 22.1%. The power management platform rose 5 percentage points QoQ to 82% of revenue, led by AI server and smartphone-related power management products; 0.18-micron and more advanced process nodes rose 2 percentage points QoQ to 62%. For Q4, President Wei Chi-shih guided shipments up