The Zhitong Finance App learned that ASMPT (00522) rose more than 5% in early trading. As of press release, it had risen 5.66% to HK$97.15, with a turnover of HK$83.2868 million.
According to the news, ASMPT announced its annual results, with sales revenue of 14.697 billion yuan, down 24.1% year on year; net profit of 715 million yuan, down 72.7% year on year. CICC said that customer recognition for the company's TCB business (hot pressure welding) continues to increase, and the customer base has expanded from IDM to HBM, foundry and OSAT customer groups, which are mainly used in the generative artificial intelligence industry chain. In 2023, the company's HB (hybrid bonding) business received an order for two units for the first time, and they will be delivered in the second half of 2024. The bank believes that the TCB business and HB business are expected to continue to gradually increase order volume and global share under the generative artificial intelligence industry trend, and both revenue scale and share are expected to increase.
Bank of America Securities released a research report stating that it will maintain the ASMPT “buy” rating to reflect strong growth this year and next two years, with a target price of HK$100. The company's profit in the fourth quarter was still weak, but management will provide positive guidance on this year's performance. It is expected that after last year's deep adjustments, the profit trend will be reversed, and there will be strong growth opportunities in artificial intelligence from 2025 to 2026.