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Brokerage focus: Open Source Securities maintains a "buy" rating on ASMPT (00522) and expects pressure on the recovery of 2024Q4 orders.
Open Source Securities' research report states that ASMPT (00522) had a revenue of $0.427 billion in Q2 of 2024, a 6.5% QoQ increase, falling within the guidance range of $0.38-0.44 billion. This was mainly driven by the rebound in the advanced packaging and consumer electronics markets, with the semiconductor solutions division seeing a 21% QoQ increase while the SMT business saw a 4.7% QoQ decline. The company's new order for Q2 2024 fell by 2.4% QoQ, with SMT's new order falling by 15.6% QoQ, mainly due to weak SMT demand that has yet to hit bottom; the company expects SMT orders to continue to decline QoQ in Q3 2024.
ASMPT Limited Just Missed EPS By 39%: Here's What Analysts Think Will Happen Next
Hong Kong stock market closing (07.25) | Hang Seng Index fell 1.77%, barely holding above 17,000 points. The market continues to be under pressure, while certain home appliances and photovoltaic stocks have risen.
Hong Kong stocks followed the downturn of the external market today, with all three major indices falling throughout the day and the decline widening in the afternoon. The Hang Seng Index fell below the 17,000 mark at one point during the day and is currently at a new three-month low.
Hong Kong stock market volatility | ASMPT (00522) fell more than 11% again at the close, and the cumulative decline in two days exceeded 30%. The short-term suppression of the company's performance due to the downturn in SMT demand.
Asmpt (00522) fell more than 11% in the last trading session, and has fallen over 30% in the past two trading days. As of press time, it fell 11.25% to HKD 78.1, with a turnover of HKD 0.678 billion.
Brokerage Focus: Minsheng Securities maintains a 'recommended' rating for ASMPT (00522) and is bullish on ASMPT's leading position in the packaging equipment industry.
Jingu Caixun | Minsheng Securities released research reports stating that ASMPT (00522) announced its 2024 interim report, with a single quarter revenue of 3.34 billion Hong Kong dollars ($0.427 billion), a year-on-year decrease of 14.3%, and a quarter-on-quarter increase of 6.5%, close to the upper limit of the previous guidance (guidance of $0.38-0.44 billion). In terms of business, the semiconductor business has maintained a good growth trend, while the SMT business is still limited by the decline in demand. The bank believes that ASMPT, as a global leader in semiconductor packaging equipment, has strong product strength. Referring to the company's performance guidance, the bank adjusted the company's 2024.
Minsheng Securities: Short-term pressure on ASMPT's (00522) performance due to SMT demand downturn, maintaining a "recommended" rating.
Minsheng Securities adjusted its forecast for ASMPT (00522) net income attributable to the mother for 2024-2026 to HKD 0.904/1.553/2.221 billion.
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