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<Research>CICC Axes ASMPT (00522.HK) TP to $72, Trims Rev. & NP Forecasts
Recommend 4 Positive 2 Negative 5 |
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ASMPT (00522.HK) reported a 0.5% YoY and 8.2% QoQ revenue decline in 1Q25, with a gross margin of 40.9%, down 0.97 ppts YoY but up 3.71 ppts QoQ, CICC’s research report noted. New orders totaled USD431 million. The company guided 2Q revenue between USD410 million and USD470 million. Persistent order weakness and elevated opex led to 1Q results miss. Due to ongoing softness in traditional business orders, CICC slashed ASMPT’s 2025 revenue and net profit forecasts by 25% and 34%, to HKD13.95 billion and HKD1.247 billion, respectively. For 2026, the broker projected revenue and profit at HKD14.972 billion and HKD1.734 billion. CICC maintained an Outperform rating on ASMPT but axed the target price by 28% to HKD72. AAStocks Financial News |
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