Glonghui, July 29 | Huatai Securities released a report stating that ASMPT's second-quarter revenue of HK$3.34 billion, down 14.3% year-on-year and up 6.5% quarter-on-quarter, in line with previous guidelines; gross margin fell 0.1 percentage points year-on-year, down 1.8 percentage points to 40% quarterly; net profit was HK$0.137 billion, down 55.5% year-on-year, 22.7% month-on-month, significantly lower than market expectations of 35%; new orders of HK$3.12 billion, and the order revenue ratio fell below 1, mainly due to automobiles and The weak industrial terminal market led to a month-on-month decline in SMT business orders, and the traditional packaging business was slow to revise. According to Huatai Securities, ASMPT's median revenue for the third quarter is expected to drop 6.4% month-on-month, 9.9% year-on-year, and orders also drop by a low single-digit month-on-month. The bank is still optimistic about the growth of the company's advanced packaging business such as TCB, but the SMT business will still be dragged down by weak demand from automobiles and industry in the short term, and demand in the traditional packaging business will be slow to revise. The net profit from 2024 to 2026 is expected to be 0.575 billion, 1.473 billion, and 2.55 billion HK$2.55 billion, respectively. The bank gave it a target price of HK$106.5, maintaining a “buy” rating.