Maybe IDC — IDC actually forecasts a 20% semiconductor growth. This just came out recently. At Gartner, the unit actually is very, very high. But I think average is about 6%. The forecast, I think, is close to 10%. But even with 7%, a little bit higher than historical, I think it will be very, very good for us. As I mentioned, I think industry inventory write-down has been many, many times. Coupled with K&S, I think historically, our second half revenue is 60% compared to first half of 40%. And also with the unique momentum in many, many qualification AP, advanced display, I think we’ll set up a stronger second half just for K&S. So I hope I answered your question. Maybe, Lester, you want to add a little bit more.
Lester Wong: So you’re right. General semi revenues did increase 50% quarter-on-quarter. And I think, as you know, general semi is always our biggest end market segment. It accounts for between 50% to 70% of our revenues. I think another point to pick up is utilization rates. So general semi has been below 70% for a couple of quarters now. But in the last quarter, it’s broken 70%. We think it’s actually going to continue to rise. Actually overall utilization has increased 10% from the beginning of FY ’23 to Q4. So those are all signs pointing out towards a much stronger FY ’24, particularly in the second half, as Fusen said.
David Duley: And then a follow-up question for me is — I guess, two of them. Could you just elaborate a little bit more about this new battery assembly order you got? I think you mentioned it was 125 systems or units. Just talk a little bit more in greater detail about what that is about and the delivery schedules there? And then Lester, don’t know if the new wire bonders you mentioned in your press release are the ones that addressed the new general semi bucket. I was just curious about the update for that particular wire bonder or when is that kind of higher-margin product going to ramp and hit market?
Lester Wong: So for the battery assembly equipment, we see that coming into Q2 and Q3 of our year. It’s one of our traditional customers who haven’t bought for a while, but now is back into market again. So we’re very, very happy to see that. As far as the new products, it’s POWERNEXX and POWERCOMM, they have been introduced. Those are ball bonders that serve the high end or mid-end general semis market. Those should become more meaningful in Q3 and Q4 as they qualify and deploy and then that should be accretive to our gross margins.
Operator: Our next questions come from the line of Tom Diffely with D.A. Davidson.
Tom Diffely : So you talked a little bit about some tech advances for the LUMINEX. What about the market update? What are you seeing, right, there in that marketplace for those tools?
Fusen Chen: So let me say this. I think we introduced a very successful product, PIXALUX, very successful. But in the meantime, we also understand in industry really we have a higher productivity of technology. So in ’23, we focused on 2 technology: One is LUMINEX. This is a laser transfer can be multiple X speed higher than the PIXALUX, so as Project W. So LUMINEX, I think at this moment — in the prior earnings call, I described many of outstanding technical milestone has been achieved. So what we are right now is, we have a multiple engage with customers, but very, very focused just with one leading customer to complete all the high-volume production qualification by Q2, that means our end of the March. So therefore, I think in Q3, they can go to production, right?
So we are very, very excited. I think the mini, micro LED size will continue to go down and the industry needs to have a high productivity tool. Currently, I think still large die scale supported by wire bonder type of low-end technology. We believe the transition is going to come for the next one or two generations. So again, I think that we hope to bring one major customer to high-volume production and finish all the qualification together with them, they can go to production in Q3. So I’ll also maybe update a little bit about the Project W. This year, ’24, we are delivering initial production tool as well as preparing for the ramp production during ’24. And actually, we are quite optimistic with these two technology. Move forward, I think we will see growth.
This year, we hope — target for $50 million together for these two technology. And ’25, we believe can do even much higher than that. So Tom, I hope I answered your questions.
Tom Diffely : Yes, no. I appreciate the extra color on the marketplace. Fusen, you obviously acquired a dispensing company a few quarters ago. Maybe just a quick update on how that integration is going and if you’re able to expand the customer base for that product?
