Key Takeaways:
- Revenue rose 52% YoY to HKD 4.94 billion, beating company guidance
- Gross margin improved 2.9 percentage points QoQ to 42.4%
- Citi reiterated Buy with a HKD 250 price target
Back
ASMPT 2Q profit surges 52% as AI packaging demand accelerates
ASMPT reported second-quarter revenue of HKD 4.94 billion, up 52% YoY and above its guided range of USD 540 million to USD 600 million.
"The strong results were propelled by robust performances in both semiconductor and SMT businesses," Citi analysts said in a note. The broker reiterated its Buy rating with a HKD 250 target price.
Net profit for the first half surged nearly 1.75 times to HKD 589 million, the company said. Gross margin expanded 2.9 percentage points sequentially to 42.4%, beating both market and Citi estimates. The board declared an interim dividend of HKD 0.97 per share.
The third-quarter revenue guidance midpoint came in 11% above consensus, with even the low end of the range implying 40% YoY growth. The outlook signals that demand for advanced packaging equipment remains strong while the mainstream semiconductor business stays resilient.
Shares of ASMPT fell 4.9% on Tuesday to HKD 132.80, paring earlier gains as investors weighed the earnings beat against broader market weakness. Short selling accounted for 3.5% of turnover.
The company's semiconductor and SMT segments both contributed to the outperformance, with revenue exceeding the company's own projection of USD 540 million to USD 600 million. The actual figure of approximately USD 630 million marked the second consecutive quarter of above-consensus results.
The guidance raise signals management expects AI-driven advanced packaging demand to sustain momentum. Investors will watch the company's interim report details for segment-level margin trends and any capacity expansion plans.
This article is for informational purposes only and does not constitute investment advice.
