BUZZ-HK-listed ASMPT hits near 2-year low as yearly profit drops

Reuters02-26

** Shares of semiconductor equipment manufacturer ASMPT Ltd 0522.HK drop as much as 17.6% to HK$63.25, their lowest since May 2023

** Stock on course for the biggest one-day pct drop since July 24, 2024; top pct loser in Hang Seng Tech Index .HSTECH, which rises 3.1%

** ASMPT said its 2024 net profit dropped 51.9% y/y to HK$342.2 mln ($44.04 mln) with revenue down 10% y/y to HK$13.23 bln

** Q4 net profit fell 94.4% y/y to HK$4.2 mln, and revenue was flat at HK$3.4 bln ($437.53 mln) - Co

** Revenue guidance for Q1 2025: $370 mln to $430 mln, which is flat y/y - Co

** Hang Seng Commerce & Industry Index .HSNC rises 2.4% and Hang Seng Index .HSI climbs 2.3%

** Stock down 13.2% YTD

($1 = 7.7709 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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