【552 Chip Stock Performance】 ASMPT's profit last year was 900 million yuan, a 1.6-fold increase. Including dividends, a total of 1.13 yuan was distributed, a 2.5-fold increase.

ASMPT (00522) Announces full-year results. ASMPT reported a profit of HKD 900 million last year, up 163.6% year-on-year. Adjusted profit was HKD 500 million, up 17.7%. Basic earnings per share were HKD 2.17, with a final dividend of HKD 0.34, up 385.7%. Additionally, a special dividend of HKD 0.79 was maintained, an increase of 216%, totaling HKD 1.13.

Focusing solely on core operations, ASMPT’s profit last year was HKD 1.08 billion, a 272.7% increase year-on-year. Driven by AI, the total value of new orders during the period reached HKD 14.48 billion, up 21.7%. Revenue was HKD 13.74 billion, up 10%. Gross profit margin was 37.8%, down 2.26 percentage points.

TCB Sales Hit Record High, Up 146% Year-on-Year

Last year, the Advanced Packaging (AP) business achieved sales of USD 530 million, a 30.2% increase year-on-year, with the Hot Press Welding (TCB) solution contributing most significantly. With breakthroughs in the highly competitive high-frequency bandwidth memory market, the group’s market share increased, and TCB sales reached a record high, up approximately 146% year-on-year. The group continues to target a 35% to 40% market share for TCB.

Driven by TCB, the semiconductor solutions division’s sales grew strongly by 21.8% year-on-year, while the Surface Mount Technology (SMT) solutions division’s sales slightly declined.

ASMPT’s mainstream business sales increased by 3.3%, mainly driven by demand from AI data centers for data transmission and energy management, as well as high capacity utilization in China’s electric vehicle industry and outsourced semiconductor assembly and testing (OSAT) companies. However, automotive and industrial markets outside China remain weak.

First Quarter Revenue Forecast of USD 470-530 Million, Median Up 29.5% Year-on-Year

Looking ahead to the first quarter, revenue is forecasted between USD 470 million and USD 530 million, with a median decrease of 1.8% quarter-on-quarter but an increase of 29.5% year-on-year. ASMPT states that, based on the median, the first quarter’s sales forecast (for core operations only) already exceeds current market expectations. The semiconductor solutions division is expected to continue quarter-on-quarter growth, mainly driven by TCB and high-end die bonding machines, offset by seasonal factors affecting the SMT solutions division. Year-on-year growth is mainly supported by strong momentum in the SMT solutions division and stable growth in the semiconductor solutions division.

The group expects gross margin to improve in the first quarter, mainly due to increased sales of TCB and high-end die bonding machines, pushing the semiconductor solutions division’s gross margin back to the median level of 40%. However, due to continued weakness in the automotive and industrial end markets, the gross margin of the SMT solutions division will remain at a similar level.

Supported by both major divisions, the momentum of new orders is expected to accelerate in the first quarter. Looking to 2026, ASMPT anticipates that structural industry growth driven by AI demand will boost sales in both the semiconductor solutions and SMT solutions divisions. With industry-leading technology and extensive collaboration with AI clients, the group is confident in expanding its TCB business in high-growth markets. The main businesses of the semiconductor solutions and SMT solutions divisions will continue to be supported by investments in global AI infrastructure and stable demand in China, though the automotive and industrial end markets for SMT solutions are expected to remain weak in the short term.

Source: ASMPT Announcement