HK Stock Market Move | ASMPT (00522) rose by more than 5% in early trading. Both first-quarter performance and second-quarter guidance exceeded expectations. JP Morgan said there are several catalysts coming up.

ASMPT (00522) rose more than 5% in morning trading, rising 4.79% to 161.9 Hong Kong dollars by the time of publication, with a trading volume of 2 billion Hong Kong dollars. On the news front, ASMPT recently released its first-quarter financial report, with continued operating income reaching 3.97 billion Hong Kong dollars, a year-on-year increase of 32.0%. Of note, the company's new order total reached 5.67 billion Hong Kong dollars, a substantial increase of 46.0% compared to the previous quarter, far exceeding market expectations. The report shows that ASMPT's first-quarter profit is approximately 324 million Hong Kong dollars, a year-on-year increase of 192.9%. JPMorgan Chase released a research report stating that ASMPT's first-quarter performance and second-quarter guidance both exceed market expectations, mainly benefiting from strong semiconductor and Surface Mount Technology (SMT) revenue, as well as improvements in semiconductor gross margins. The bank believes that there are several catalysts in the coming quarters to drive up the stock price, including the backlog of HBM4 orders, which may be released in the second half of this year after SK Hynix solves its logic board challenges with Rubin chips; at the same time, the company is extensively discussing certification cooperation on HBM4E TCB with all DRAM manufacturers.