On October 28, Citi published a research report highlighting that ASMPT (00522.HK) delivered third-quarter results that largely aligned with expectations. Propelled by robust demand in advanced packaging, core SEMI operations, and SMT (Surface Mount Technology) solutions, the company reported revenue of HK$5.247 billion, marking a 49% year-on-year surge and a 6% sequential increase. This performance fell within the prior guidance range of US$630 million to US$690 million. Net profit reached HK$533 million, slightly trailing the market consensus of HK$578 million but consistent with Citi’s projections.

Management provided an optimistic outlook for the fourth quarter, forecasting revenue between US$670 million and US$730 million. The midpoint of this range suggests an approximate 38% year-on-year growth—surpassing market expectations by around 9%—while even the lower end exceeds consensus estimates. Citi reiterates its “Buy” recommendation for ASMPT, assigning a target price of HK$250. The bank remains confident that sustained order momentum will underpin demand for advanced packaging technologies.