ASMPT (00522) announced the mid-year performance for 2025, with a comprehensive profit after tax of HK$217 million, a decrease of 30.9% year-on-year.

ASMPT(00522) announced its mid-term performance for 2025, with sales revenue of HK$65.3 billion, increasing by 0.7% annually and decreasing by 3.3% semi-annually. The total amount of new orders was HK$71.1 billion, increasing by 12.4% annually and 10.5% semi-annually. Net profit after tax was HK$2.17 billion, decreasing by 30.9% annually and increasing by 672.7% semi-annually. Adjusted profit was HK$2.18 billion, decreasing by 30.7% annually and increasing by 95.7% semi-annually. Basic earnings per share were HK$0.52, with a proposed interim dividend of HK$0.26 per share. The computer terminal market contributed the most to the group's total sales revenue, accounting for 30%. Sales revenue in this market saw strong growth semi-annually and annually, driven by the continued demand for applications related to artificial intelligence in the memory and logic fields, as well as new applications for energy management in artificial intelligence data centers. The automotive terminal market was the second largest source of sales revenue for the group, accounting for 15%. Its performance continued to benefit from the demand for electric cars in China. The communication terminal market accounted for 13% of the group's total sales revenue, driven by the continued demand for applications related to photonics and high-end smartphones. In terms of regions, sales revenue in China saw annual growth, increasing its share of the group's total sales revenue to 36.7%, with Korea at 13.6% and Taiwan at 10.6%. Sales revenue in Europe and the Americas decreased annually due to market softness in the surface mounting technology solutions division. Europe's share decreased to 11.4% and the Americas to 12.3%. The group maintains a diversified customer base, with the top five customers accounting for approximately 24.8% of total sales revenue in the first half of 2025. The group's total amount of new orders was HK$71.1 billion (US$9.13 billion), increasing by 10.5% semi-annually and 12.4% annually. The total amount of new orders in the surface mounting technology solutions division saw strong growth of 53.7% semi-annually and 22.7% annually, while the semiconductor solutions division saw a decrease of 15.5% semi-annually and an increase of 3.0% annually. The group's total backlog reached HK$68.5 billion (US$8.73 billion), with an orders to revenue ratio of 1.09. The orders to revenue ratio for the semiconductor solutions division was 0.85, while for the surface mounting technology solutions division, it was 1.47. The group's adjusted operating profit was HK$2.18 billion, increasing by 95.7% semi-annually and decreasing by 30.7% annually. Improvement semi-annually was mainly driven by tax offset, while some of it was offset by adverse effects from the weakening US dollar exchange rates, despite the group having hedging measures in place. The annual decrease was primarily due to adverse effects from foreign currency exchange rates, partially offset by tax incentives from R&D centers in Europe and Asia. Additionally, it is expected that sales revenue in the third quarter of 2025 will be between US$445 million and US$505 million, with an expected annual growth rate of 10.8% and a quarterly growth rate of 8.9%, exceeding market expectations. The group is confident in achieving sustainable and stable sales revenue growth in advanced packaging and expects sales revenue in the surface mounting technology solutions division to also benefit. Looking ahead, the group is confident that advanced packaging will continue to grow, benefiting from the artificial intelligence wave and the group's leading technological position in the market. The group reiterated its forecast that the total addressable market for TCB will reach US$1.0 billion in 2027, and will continue to focus on consolidating its market leading position in the memory and logic application areas of the TCB market.