AEM Holdings Ltd. released written responses on Apr, 23 2026 to questions submitted by shareholders ahead of its Annual General Meeting scheduled for Apr, 28 2026 at the Stephen Riady Auditorium in Singapore.

The company said it is working with “a broad range of hyperscalers,” including those that design their own ASICs, and is leveraging its alliance with ASE Technology Holding Co. Ltd. to move these engagements from lab validation to high-volume manufacturing.

For a leading memory customer first engaged in Aug, 2021, AEM reported receipt of a purchase order for a next-generation final-test handler covering DDR, NAND flash and other packaged memory devices. Management expects initial tool revenue in late 2026 and a production ramp in 2027.

AEM confirmed that its initial AI / HPC client, recognised as the recipient of the 2026 Intel EPIC Supplier Award, “remains a meaningful and growing revenue contributor.” A second, unnamed fabless AI / HPC customer is projected to become AEM’s largest revenue source in FY2026 as it conducts a significant production ramp.

Of AEM’s three business lines—Test Cell Solutions, Instrumentation and Contract Manufacturing—only Test Cell Solutions carries a recurring “razor-and-razorblade” revenue model via consumables and services; the other two are order-driven.

The group is shifting its main Penang site from a “just-in-case” to a “just-in-time” inventory model while maintaining buffer stocks for critical items, bolstering supplier partnerships and enhancing demand-forecasting systems. Management said the closure of the Strait of Hormuz has not materially affected operations or customer ramp plans to date.

Regarding the strategic partnership announced in Jan, 2026, ASE can exercise detachable warrants in two tranches after driving at least 30 million Singapore dollars and 50 million Singapore dollars of cumulative commercial revenue, respectively. The warrants are priced at 103% and 105% of the signing-day volume-weighted average price.

AEM recently repaid outstanding debt to move toward a net-cash position, citing lower interest costs and improved flexibility for future opportunities. The company continues to target a dividend payout of at least 25% of profit after tax and executed share buybacks totalling 1.9 million Singapore dollars in 2H2025.

Management outlined a four-pillar long-term roadmap focused on customer diversification, technology and market adjacency expansion, ecosystem partnerships and operational resilience, and said it will seek to provide more visibility on these initiatives to shareholders.