HK Stock Market Move | ASMPT (00522) rose over 3% in early trading Advanced packaging business is the company's main growth engine. Institutions are optimistic about its business accounted for a continued increase.

ASMPT (00522) rose over 3% in the morning session, rising 2.24% as of press time to HK$59.45, with a turnover of HK$543.128 million. Huatai released a research report stating that ASMPT's 4Q24 revenue was HK$3.4 billion (flat year-on-year, up 1.8% quarter-on-quarter), slightly exceeding market expectations. The annual revenue was HK$13.23 billion, a 10% decrease year-on-year. Advanced Packaging (AP) business revenue increased by 23% year-on-year, accounting for 30%, becoming the main growth engine, while traditional packaging and SMT business were affected by weak demand in the automotive and industrial sectors. Looking ahead to 2025, the bank is optimistic that the share of advanced packaging business will continue to increase, driving steady business growth for the company. The bank stated that the company expects 1Q25 revenue to be between US$370-430 million (up 9% quarter-on-quarter, flat year-on-year), lower than the market's consensus expectation of US$437 million. The company indicated at the performance meeting that 1) 1Q25 order income is basically flat with 4Q24, with some recovery in traditional equipment and SMT business in the SEMI business, but AP business is expected to decline quarter-on-quarter due to the high base in 4Q24. Looking ahead to 2025, the company believes that customer demand for advanced packaging business is clear, and the company expects TCB and other AP equipment markets to maintain an 18% CAGR growth, reaching US$4 billion by 2029.