Group 1 - The Hang Seng Index fell by 0.43%, down 109 points, while the Hang Seng Tech Index dropped by 1.57%. The morning trading volume in Hong Kong stocks was HKD 148.2 billion [1] - The Hang Seng Biotechnology Index rose by 1.77%, with notable gains from MicroPort Medical (00853) up 9.7%, MicroPort NeuroScience (02172) up over 8%, and Innovent Biologics (01801) up 4.85% [1] - WuXi AppTec (02359) increased by 2.24%, WuXi Biologics (02126) rose by 6.5%, and WuXi Biologics (02269) saw an increase of over 3% after announcing the construction of a modular biomanufacturing facility in Singapore [1] Group 2 - Mindray Medical-B (02160) surged by 8.8% as the company is expected to acquire and restructure the MicroPort cardiac rhythm management business, enhancing its product pipeline [2] - Insurance stocks continued to rise, with New China Life Insurance (01336) up 4.47% and China Life Insurance (02628) increasing by 1.5% [3] Group 3 - 361 Degrees (01361) rose by 6.5%, with the company showing steady revenue growth, and institutions expect strong revenue growth for the full year [4] - Dreamscape (01119) increased by 3.5% after signing a capitalization agreement with Playrix, bringing in a long-term strategic partner [5] Group 4 - GAC Group-B (01167) surged over 20% as a concerted action party increased its holdings by over 60,000 shares, raising its stake to 25.36% [6] - Semiconductor stocks collectively declined, with Hua Hong Semiconductor (01347) down 5.3%, SMIC (00981) down 3.9%, and ASMPT (00522) down 2.74% [6]

Market Overview - The Hang Seng Index fell by 0.43%, down 109 points, while the Hang Seng Tech Index decreased by 1.57%. The early trading volume in Hong Kong stocks was HKD 148.2 billion [1]. Biotechnology Sector - The Hang Seng Biotechnology Index rose by 1.77%. Notable gainers included MicroPort Medical (00853) up 9.7%, MicroPort NeuroTech (02172) up over 8%, and Innovent Biologics (01801) up 4.85% [1]. - WuXi AppTec (02359) increased by 2.24%, WuXi Biologics (02126) rose by 6.5%, and WuXi Biologics (02269) saw an increase of over 3% following the announcement of the construction of a modular biologics manufacturing facility in Singapore [1]. - Fosun Pharma (02196) gained over 5% after acquiring exclusive rights for the innovative Alzheimer's drug AR1001 [1]. - HeartCare Medical-B (02160) surged by 8.8% as the company is expected to acquire and restructure MicroPort's cardiac management business, enhancing its product pipeline [1]. Insurance Sector - Insurance stocks continued their upward trend, with New China Life Insurance (01336) rising by 4.47% to reach a new high, and China Life Insurance (02628) increasing by 1.5% [2]. Consumer Sector - 361 Degrees (01361) rose by 6.5%, with institutions expecting strong revenue growth for the full year [3]. - Dreamland (01119) increased by 3.5% after signing a capitalization agreement with Playrix, bringing in a strategic shareholder from the upstream development sector [4]. Semiconductor Sector - Gako Technology-B (01167) surged over 20% as a concerted action party increased its stake by over 60,000 shares, raising its total holding to 25.36% [5]. - Semiconductor stocks collectively declined, with Huahong Semiconductor (01347) down 5.3%, SMIC (00981) down 3.9%, and ASMPT (00522) down 2.74%. Nvidia's order for 300,000 H20 chips and Morgan Stanley's comments on the potential impact of the 520 unlock on local industry sentiment contributed to this decline [5].

Core Viewpoint - Semiconductor stocks experienced a collective decline, with notable drops in companies such as Huahong Semiconductor, SMIC, ASMPT, and Shanghai Fudan, reflecting market sentiment influenced by Nvidia's recent actions and TSMC's performance [1] Group 1: Stock Performance - Huahong Semiconductor (01347) fell by 4.96%, closing at HKD 40.25 [1] - SMIC (00981) decreased by 4.12%, ending at HKD 51.15 [1] - ASMPT (00522) dropped by 2.74%, with a closing price of HKD 67.45 [1] - Shanghai Fudan (01385) saw a decline of 1.95%, closing at HKD 32.75 [1] Group 2: Nvidia and TSMC Developments - Nvidia has officially placed an order for 300,000 H20 chips with TSMC, supplementing an existing inventory of 600,000 to 700,000 H20 chips [1] - Reports indicate that Nvidia has informed clients of limited inventory for H20 AI chips and currently has no plans to restart production [1] Group 3: Market Sentiment and Future Outlook - Morgan Stanley noted that the release of H20 chips is beneficial for AI data center hosting companies but negatively impacts local semiconductor supply chain leaders like SMIC [1] - TSMC reported a net profit of nearly NT$398.3 billion in Q2 2025, a year-on-year increase of approximately 61%, marking a record high for quarterly net profit and the highest growth rate in three years [1] - Analysts suggest that the global semiconductor growth remains optimistic, with potential price increases from leading foundries and a positive outlook for Q2 performance [1]

Group 1 - Chip stocks collectively declined, with Huahong Semiconductor down 4.96% to HKD 40.25, SMIC down 4.12% to HKD 51.15, ASMPT down 2.74% to HKD 67.45, and Shanghai Fudan down 1.95% to HKD 32.75 [1] - Nvidia has officially placed a new order for 300,000 H20 chips with TSMC, supplementing the existing inventory of 600,000 to 700,000 H20 chips [1] - Morgan Stanley indicated that the release of H20 is beneficial for AI data center hosting companies but negatively impacts local leading semiconductor supply chain companies like SMIC [1] Group 2 - TSMC achieved a net profit of nearly NT$398.3 billion in Q2 2025, a year-on-year increase of nearly 61%, marking a record high for quarterly net profit and the highest growth rate in nearly three years [1] - The global semiconductor growth trend remains optimistic, with leading foundries potentially initiating price increases and a positive outlook for Q2 performance [1] - Given the sustained high level of global computing power investment, the performance of industry chain companies is likely to continue to reflect this trend [1]

ASMPT Conference Call Summary Company Overview - **Company**: ASMPT - **Industry**: Semiconductor and Advanced Packaging Key Points and Arguments TCB and Advanced Packaging Developments - ASMPT has installed over 500 TCB (Thermal Compression Bonding) devices globally, with significant progress in the storage sector, particularly with the XPM31 device entering high-volume production and 12-layer HBM4 devices in low-volume production [2][3][5] - The company is collaborating with clients on no flux TCB trials, indicating innovation in packaging technology [3][5] - A new generation HP Hadoop product is set to launch in Q3 2025, enhancing competitiveness in Hybrid Bonding [2][5] - Orders for systems exceeding 800G in Photonics and CPO (Co-Packaged Optics) technology have been secured, with expectations for large-scale production in the next two to three years [2][5] Market Demand and Performance - The growth of AI data centers is driving demand for efficient power management, leading to increased needs for wire bonding, die bonding, and SMT (Surface Mount Technology) placement tools [2][6][11] - In H1 2025, SMT business benefited from rising orders in consumer electronics and electric vehicles (EVs) in China, contributing significantly to overall performance [2][7] - Supply chain diversification has led to orders from EMS companies and local firms in India, primarily for mobile applications, resulting in a notable rebound in SMT business in Q1 [2][7] Financial Performance and Projections - ASMPT's performance in H1 2025 was strong, with new orders exceeding expectations and continued leadership in the PCB sector [3][7] - The company anticipates a slight decline in bookings for Q3 but expects a year-over-year increase in double digits [8] - HBM4 demand is projected to grow in H2 2025, with a target of achieving $100 million in revenue by 2027, capturing 35-40% market share [4][19][20] Industry Trends and Challenges - The automotive and industrial control sectors are currently experiencing weak demand, with contributions dropping significantly compared to the previous year [10][28] - Domestic market indicators show signs of recovery, with increased usage of OSET services and rising PCB production reflecting a positive industry outlook [12][28] - The relationship between SMT and SEMI markets is cyclical, with SMT expected to rebound following SEMI market recoveries [9] Technology and Equipment Insights - The delivery time for equipment, including TCB, is typically around six months, with adjustments made for large orders [21] - The second-generation Hyperbonding equipment shows improvements in bonding accuracy, speed, and footprint, enhancing competitiveness [26] - Advanced packaging revenue growth is expected from technologies like Photonics and high-bandwidth transceivers, driven by AI data center demand [27] Conclusion - ASMPT is positioned well within the semiconductor and advanced packaging industry, with strong growth prospects driven by AI and domestic market demands, despite challenges in certain sectors. The company is focused on innovation and maintaining a competitive edge through new product launches and strategic collaborations.

智通财经APP讯，ASMPT(00522)发布公告，于2025年7月29日，公司根据于上市规则的新第17章生效日 期前获采纳的该计划向15名获选雇员授予合共83.75万股股份。 ...

Core Viewpoint - ASMPT (00522) announced the grant of a total of 837,500 shares to 15 selected employees in accordance with the new Chapter 17 of the listing rules, effective before July 29, 2025 [1] Group 1 - The company is implementing a share grant plan for selected employees [1] - A total of 837,500 shares will be distributed among 15 employees [1]

Core Viewpoint - ASMPT has granted a total of 837,500 shares to 15 selected employees under its employee share award scheme, which was adopted prior to the effective date of the new Chapter 17 of the listing rules [1] Group 1 - The share award plan is part of the company's strategy to incentivize and retain key employees [1] - The announcement was made on July 30, 2023, indicating the company's ongoing commitment to employee engagement [1] - The shares granted are part of a broader initiative to align employee interests with shareholder value [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 根據公司僱員股份獎勵計劃授予股份 本公告乃由公司根據上市規則第17.06A、17.06B及17.06C條作出。 ASMPT LIMITED 茲參照於二零二零年三月二十四日獲公司採納該計劃的相關規則。根據該計劃的條款， 信託人會為獲選僱員之利益，以面值認購新股份或在聯交所購買股份。 （於開曼群島註冊成立之有限公司） （股份代號 ： 0522） 授予每名獲選僱員的獎勵股份數量乃根據該名獲選僱員於集團的職位、工作經驗、服務 年期及工作表現等因素而釐定。 於二零二五年七月二十九日，公司根據於上市規則的新第17章生效日期前獲採納的該 計劃向15名獲選僱員授予合共837,500股股份。公司將根據適用於該計劃的過渡安排遵 守上市規則的新第17章。 獎勵股份之詳情載列如下： 獎勵股份的購買價 ： 無 獎勵日期的股份收市價 ： 港幣69.35元 按獎勵日期的收市價每股股份港幣69.35元計算，獎 勵股份的市值為港幣58, ...

Core Viewpoint - Company ASMPT reported better-than-expected orders for Q2 2025, but profit improvement fell short of expectations, with revenue of HKD 3.4 billion (USD 436 million), a year-on-year increase of 1.8% and a quarter-on-quarter increase of 8.9% [1] Financial Performance - Q2 2025 revenue was HKD 3.4 billion (USD 436 million), with a gross margin of 39.7%, showing a year-on-year increase of 0.33 percentage points and a quarter-on-quarter decrease of 1.19 percentage points [1] - Profit for Q2 2025 was HKD 1.34 billion, a year-on-year decrease of 1.7% but a quarter-on-quarter increase of 62.5%, primarily influenced by a one-time tax credit [1] - New orders in Q2 2025 totaled USD 482 million, exceeding expectations [1] Business Segmentation - In H1 2025, 30% of revenue came from computer terminals, up from 7% in the same period of 2024, while automotive electronics accounted for 15%, down from 24% in 2024 [2] - Semiconductor revenue in Q2 2025 was USD 258 million, a quarter-on-quarter increase of 1% and a year-on-year increase of 20.9%, although orders decreased by 4.5% quarter-on-quarter and 4.6% year-on-year [2] - SMT business received USD 269 million in orders in Q2 2025, reflecting a quarter-on-quarter increase of 29.4% and a year-on-year increase of 51.2% [2] Growth Outlook - The company is experiencing growth in HBM (High Bandwidth Memory) and advanced logic, with TCB (Thermal Compression Bonding) orders increasing by 50% year-on-year in H1 2025 [1] - The company has completed equipment installations for major clients in the HBM sector and has begun small-scale production for HBM4 [1] Earnings Forecast and Valuation - The company raised its revenue forecast for 2025 by 2% to HKD 14.238 billion but lowered its profit forecast by 21% to HKD 988 million [2] - The current stock price corresponds to a P/E ratio of 26.6x for 2025 and 16.8x for 2026, with a target price of HKD 72, indicating a potential upside of 14% from the current price [2]