HK Stock Market Move | ASMPT (00522) rose nearly 6% in early trading. TCB equipment has been first purchased by multiple leading HBM companies worldwide.

ASMPT (00522) rose nearly 6% in the morning session, and as of the time of publication, it had risen 4.52% to 182.8 Hong Kong dollars, with a trading volume of 2.08 billion Hong Kong dollars. On the news front, SK Hynix and Samsung Electronics are actively expanding their HBM production capacity. ASMPT's TCB equipment has been purchased by several leading HBM manufacturers worldwide for mass production of HBM4. SK Hynix has placed orders for over 30 TCB machines from ASMPT for the production of 12-layer HBM3E, and has once again placed multiple orders for TCB equipment for HBM4 production with a unit price of approximately 4 billion Korean won, totaling approximately 30 billion Korean won. Huatai believes that the company's business in storage, C2W, CoPoS, and silicon photonics fields is flourishing, and is expected to fully benefit from the advanced packaging demand driven by AI. The impressive SMT orders reflect the continuous spread of AI demand from advanced packaging to mainstream back-end processes, with AI server and optical module demand becoming important growth drivers for the SMT business. The firm maintains its "buy" rating on ASMPT with a target price raised from 146 Hong Kong dollars to 200 Hong Kong dollars.