Lyon: ASMPT (00522) adjusted net profit for the second quarter exceeded expectations and maintained a “outperforming the market” rating target price of HK$226.2

The Zhitong Finance App learned that Lyon released a research report stating that it maintained the ASMPT (00522) “outperforming the market” rating, raised the 2026 profit forecast by 17%, and remained roughly unchanged for 2027 and 2028. It was valued at 35 times the projected price-earnings ratio in 2027, with a target price of HK$226.2.

According to financial reports, ASMPT's adjusted net profit for the second quarter was HK$638 million, 76% higher than market expectations, benefiting from strong revenue and gross profit margin. Revenue for the period was HK$4.94 billion, 10.5% higher than the median company's guidance; orders of HK$7.08 billion were significantly superior to the company's expectations for the semiconductor and SMT business, with an order shipment ratio of 1.43 times; the adjusted gross profit margin was 42.5%, which was 2.8 percentage points higher than market expectations.

According to the report, revenue guidance for the third quarter was 630 million to 690 million US dollars, with a median of 660 million US dollars, up 46% year-on-year and 5% quarter-on-quarter, 10% higher than market expectations. Management expects orders in the third quarter to record a quarterly increase in the number of units, mainly driven by hot press welding and optical communication businesses. The hot compression welding business received strong order momentum from advanced logic and memory customers, and revenue from optical transceiver solutions grew steadily.