Summary by Moomoo AI
ASMPT Limited (ASMPT) announced its unaudited performance for the three months ended September 30, 2024. Sales revenue for the quarter was HK$3.34 billion, a 3.7% decrease from the same period last year, but gross margin and operating profit margin increased by 683 basis points and 343 basis points respectively. Profit increased significantly to HK$23.8 million, an 87.0% year-on-year growth, with basic earnings per share of HK$0.06. However, adjusted profit declined by 35.0% year-on-year to HK$29.5 million. The Group forecasts fourth-quarter sales revenue for 2024 to be between US$0.38 billion and US$0.46 billion. The performance of the Semiconductor Solutions Division was strong, particularly driven by the increased demand for TCB for HBM, while the Surface Mount Technology Solutions Division underperformed due to weak market conditions. ASMPT also announced its plan to sell its equity interest in the strategic joint venture company AAMI, expecting this transaction to create additional value for shareholders. The board of directors is confident in the business outlook for advanced encapsulation, but anticipates a slower-than-expected recovery pace for mainstream businesses.
