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| HSI1 | 24,271.20 | +59.85 | 162.63B |
| HSCEI1 | 8,168.57 | +20.70 | 49.87B |
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2026-10-12 16:19:43 G Sachs issued a research report expressing a positive view on ASMPT (00522.HK)'s advanced packaging applications, benefiting from migration toward smaller pitch technologies and increasing applications in GPUs, ASICs and HBM. The broker expected revenue in the third and fourth quarters to grow 5% QoQ and 3% QoQ respectively to HKD5.172 billion and HKD5.325 billion, driven by continued AI server demand for TCB and photonics equipment, as well as SMT equipment. The broker expected TCB demand to benefit from advanced logic and HBM applications, while pluggable optical transceivers remain the key short-term growth driver for photonics. Hybrid Bonding and CPO are viewed as longer-term opportunities. The broker raised its net profit forecasts for ASMPT from 2026 to 2028 by 4%, 6% and 12% respectively, due to lowered operating expense ratio estimates reflecting a positive view on continued improvements in operating efficiency. Based on a discounted 2030 P/E methodology, the broker lifted ASMPT's 12-month TP by 3% from HKD177 to HKD183, while maintaining the target multiple at 24.9x 2030 forecast P/E. Considering the valuation is already reasonable, the rating was maintained at "Neutral". (da/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |