ASMPT swings to HK$533m profit in Q3 on AI chip demand
ASMPT reported a HK$533 million net profit for the July-September quarter, reversing a HK$270 million loss a year earlier, driven by AI infrastructure investment. Revenue rose 49 per cent year-on-year to HK$5.25 billion, and new orders hit a record HK$8.8 billion.
ASMPT, the Hong Kong-listed semiconductor and surface-mount technology equipment maker, swung to a net profit of HK$533 million in the third quarter ended 30 September, reversing a loss of HK$270 million in the same period a year earlier, the company announced on 28 October.
The company's adjusted operating profit surged nearly 3.8 times year-on-year to more than HK$920 million, and rose about 9 per cent from the previous quarter. Revenue for the period reached HK$5.25 billion, up nearly 49 per cent from a year earlier and 6.3 per cent quarter-on-quarter.
New orders booked during the quarter hit a record HK$8.8 billion, soaring nearly 1.4 times year-on-year and climbing about 25 per cent from the preceding quarter. ASMPT attributed the surge primarily to sustained investment in artificial-intelligence infrastructure, which drove demand for its advanced packaging, semiconductor solutions and surface-mount technology solutions businesses.
The company's adjusted gross margin for the third quarter was 42.9 per cent, an increase of 5.17 percentage points year-on-year and 0.35 percentage points quarter-on-quarter.
Looking ahead, ASMPT forecast fourth-quarter revenue of between US$670 million and US$730 million. At the midpoint of US$700 million, that would represent a sequential increase of 4.6 per cent and a year-on-year rise of 37.5 per cent.