Chipmaker ASMPT jumps 3.3pc on AI demand

Shares of ASMPT (0522) gained 3.3 percent despite the chipmaker saying its first-half net profit slumped more than 30 percent to HK$217 million.

However, it declared that new orders surpassed expectations due to robust AI-related demand.

The company declared an interim dividend of 26 HK cents per share, representing a 26 percent reduction from the previous year.

Looking ahead to the third quarter, ASMPT projected revenue between US$445 million (HK$3.47 billion) to US$505 million, representing a gain of 10.8 percent in terms of median figure, exceeding market expectations.

Chief executive Robin Gerard Ng Cher Tat highlighted particularly strong performance in advanced packaging and mainstream segments, attributing this growth to artificial intelligence applications.

The company reported a 0.7 percent growth in first-half revenue to HK$6.53 billion, with new orders increasing 12.4 percent to HK$7.11 billion. 

However, gross margins contracted by 65 basis points to 40.3 percent, primarily due to weaker performance in its surface-mount technology division.

Following the earnings release, ASMPT shares closed at HK$63.20.

Regarding potential tariff impacts, Ng said the company has not seen immediate effects but remains cautious about future uncertainties.

STAFF REPORTER