ASMPT Shares Surge Over 7% on Strong Q1 Profit and Upbeat Q2 Forecast

Deep News04-23

ASMPT (00522) saw its shares rise more than 7% during the trading session. At the time of writing, the stock was up 5.06%, trading at HK$159.90 with a turnover of HK$319 million.

The company recently released its first-quarter financial results, showing revenue from continuing operations reaching HK$3.97 billion, a year-on-year increase of 32.0%. Notably, total new orders for the quarter amounted to HK$5.67 billion, surging 46.0% quarter-on-quarter and significantly exceeding market expectations. The report indicated that ASMPT's first-quarter profit was approximately HK$324 million, representing a substantial year-on-year growth of 192.9%.

A research report from Citi highlighted that ASMPT's first-quarter performance far surpassed expectations, benefiting from strong showings in both its semiconductor and SMT businesses. The company's second-quarter revenue guidance also exceeded forecasts, with the group projecting revenue between $540 million and $600 million. The lower end of this range is already higher than the market consensus of $416 million. The group's book-to-bill ratio rose to 1.43, the highest level in five years, primarily driven by robust order intake in both semiconductor and SMT segments, with SMT orders reaching a record high.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment