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.
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