HK Stock Market Move | ASMPT (00522) rose more than 7% in early trading, with first quarter profits and second quarter outlook exceeding expectations. The newly added orders increased by 40% compared to the previous quarter.

ASMPT (00522) rose more than 7% in early trading. As of the time of writing, it had increased by 4.27% to 158.7 Hong Kong dollars, with a trading volume of 2.48 billion Hong Kong dollars. On the news front, ASMPT recently released its first-quarter financial report, with sales revenue from continuing operations reaching 3.97 billion Hong Kong dollars, a year-on-year increase of 32.0%. Of note, the company's total new orders reached 5.67 billion Hong Kong dollars, a significant increase of 46.0% on a quarterly basis, well above market expectations. The report shows that ASMPT's first-quarter profit was approximately 324 million Hong Kong dollars, a year-on-year increase of 192.9%. Citi's research report stated that ASMPT's first-quarter performance exceeded expectations, benefiting from strong performance in the semiconductor and SMT businesses. Revenue guidance for the second quarter also exceeded expectations, with the group expecting revenue between 540 million and 600 million US dollars, with the lower end already surpassing market expectations of 416 million US dollars. The group's order shipment ratio has increased to 1.43, the highest in five years, mainly driven by strong orders in the semiconductor and SMT businesses, with SMT orders reaching a record high.