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 部或任何部份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。 就收購守則而言，有關可能私有化的要約期於本公告刊發時結束。 - 1 - 本公司股東及潛在投資者於買賣本公司證券時務請審慎行事。任何人士如對應 採取的行動或彼等的情況有任何疑問，應諮詢其股票經紀、銀行經理、律師或 其他專業顧問。 承董事會命 ASMPT Limited 董事 黃梓达 ASMPT LIMITED （於開曼群島註冊成立之有限公司） （股份代號：0522） 根據收購守則規則 3.7 作出的公告 要約期結束 本公告由 ASMPT Limited（「本公司」）根據香港公司收購及合併守則（「收購 守則」）規則 3.7 而作出。 茲提述本公司日期為二零二四年十月十四日有關可能私有化的公告（「規則 3.7 公告」）。除非另有界定，本公告所用之詞彙與規則 3.7 公告所界定者具有相同 涵義。 要約期結束 本公司謹此通知本公司股東及潛在投資者，本公司與潛在要約人已停止就可能 私有化進行討論。 香港，二零二四年 ...

Financial Data and Key Metrics - Group revenue for Q3 2024 was $428.5 million, flat quarter-on-quarter (QoQ) but down 3.7% year-on-year (YoY) [21] - Group bookings for Q3 2024 were $406.1 million, up 7.1% YoY and slightly up QoQ [21] - Group gross margin improved to 41.0%, up 94 basis points QoQ and 683 basis points YoY [21] - Adjusted net profit was HKD29.5 million, down QoQ and YoY, mainly due to a foreign exchange loss of HKD108 million [20] - Group backlog at the end of Q3 2024 was $806 million, down QoQ due to SMT backlog consumption [19] Business Line Performance - SEMI revenue was $229.4 million, up 0.7% QoQ, contributing 53.5% to group revenue [22] - SEMI bookings were $237.9 million, up 7.0% QoQ, driven by demand for mainstream wire bonders and die bonders [23] - SMT revenue was $199.2 million, down 7.5% QoQ, with bookings at $168.2 million, down 5.4% QoQ [24] - SMT maintained its leading market position despite ongoing market softness [24] Market Performance - Advanced Packaging (AP) bookings remained robust, driven by thermal compression bonding (TCB) and photonics solutions [9] - TCB solutions contributed significantly to AP bookings and revenue, with strong demand for high bandwidth memory (HBM) applications [11][13] - Photonics solutions saw meaningful order wins, particularly for 800G optical transceivers in data centers [15] Company Strategy and Industry Competition - The company's broad-based portfolio allows it to mitigate weaknesses in one segment with strengths in another, such as AP momentum offsetting mainstream weakness [10] - The company is confident in its AP business prospects, with SMT bookings bottoming out and SEMI mainstream business on a recovery path, albeit slower than anticipated [27] - The company is expanding its internal capacity for TCB production, doubling up in 2025 compared to 2024 [50] Management Commentary on Operating Environment and Future Outlook - The semiconductor industry recovery remains uneven, with non-AI-related cyclical demand recovering slower than expected [6] - Generative AI demand is vigorous, driving significant capital spending from major AI players globally [8] - The company expects Q4 2024 revenue to be between $380 million to $460 million, with a midpoint of $420 million, down 3.5% YoY and 2% QoQ [27] Other Important Information - The company proposed to dispose of a stake in its strategic joint venture, Advanced Assembly Materials International Limited (AAMI), to Shenzhen Original Advanced Compounds Co, Ltd (SOAC) [25] - This disposal is expected to create additional value for shareholders, with the group receiving no less than 20% of SOAC shares and immediate cash flow [26] Q&A Session Summary Question: Booking outlook for Q4 2024 - Group bookings are expected to be flat QoQ, with SEMI up due to AP demand and SMT down due to market softness [30] Question: Sustainability of TCB orders into 2025 - The AI momentum is expected to continue into 2025, driving demand for HBM and TCB solutions [33] Question: Potential TCB shipments in 2025 - The company does not comment on specific numbers but believes the HBM market is exciting and will continue to grow [37] Question: TCB tools for memory vs. logic - Memory tools are expected to take over in terms of volume compared to logic in 2025 due to increasing HBM demand [38] Question: Revenue recognition for bulk TCB orders - Revenue recognition will follow the shipment schedule, with production ramping up in Q4 2024 and Q1 2025 [57] Question: Photonics and silicon photonics commercialization timeline - Photonics demand is already strong, while silicon photonics is still in its infancy and expected to pick up by 2026 [62][63] Question: FX impact on financials - The company experienced a significant FX loss in Q3 due to US dollar depreciation, but a strengthening dollar could lead to positive FX impacts [83][84] Question: SEMI margin sustainability - The high SEMI margin in Q3 was due to high absorption from TCB production ramp, but future margins could fluctuate due to product mix and volume effects [88] Question: Component and capacity shortage concerns - The company mitigates supply chain risks through risk buys, ensuring timely delivery of TCB tools [91] Question: Shareholder return policy and CapEx - The group's CapEx runs between HKD400 million to HKD600 million annually, with no updates on dividend policy [99]

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 部或任何部份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。 ASMPT LIMITED （於開曼群島註冊成立之有限公司） （股份代號：0522） 二零二四年第三季度業績新聞稿 有關 ASMPT Limited 及其附屬公司截至二零二四年九月三十日止九個月業績的 新聞稿附載於本公告。 承董事會命 董事 黃梓达 香港，二零二四年十月三十日 於本公告日期，本公司董事會成員包括獨立非執行董事： Orasa Livasiri 小姐（主 席）、樂錦壯先生、黃漢儀先生、鄧冠雄先生、張仰學先生及蕭潔雲女士；非 執行董事： Hichem M'Saad 博士及 Paulus Antonius Henricus Verhagen 先生；執行 董事：黃梓达先生及 Guenter Walter Lauber 先生。 ASMPT 的董事對本公告所載資料的準確性共同及個別地承擔全部責任，並在作 出一切合理查詢後確認，據其所知，本公告所表達之意見乃經審慎周詳考慮後 始行發表。本公告並無遺漏其他 ...

Financial Performance - For the third quarter of 2024, ASMPT Limited reported sales revenue of HKD 33.4 billion (USD 4.29 billion), a year-on-year decrease of 3.7% and a quarter-on-quarter increase of 0.1%[2]. - Adjusted profit for the quarter was HKD 29.5 million, down 35.0% year-on-year and down 78.5% quarter-on-quarter[9]. - The company forecasts sales revenue for the fourth quarter of 2024 to be between USD 3.8 billion and USD 4.6 billion, indicating a year-on-year decrease of 3.5% and a quarter-on-quarter decrease of 2.0%[1]. - Basic earnings per share were HKD 0.06, a year-on-year increase of 50.0% but a quarter-on-quarter decrease of 81.8%[2]. - The group reported adjusted earnings of HKD 29.5 million, a decrease compared to the previous year and quarter, primarily due to foreign exchange losses[10]. - For the three months ended September 30, 2024, the company reported a profit of HKD 23,845, a decrease from HKD 136,696 for the same period in 2023[17]. - The total comprehensive income for the period was HKD 454,537, significantly higher than HKD 5,025 in the previous year[17]. - The adjusted profit for the period, excluding restructuring costs, was HKD 29,524, with an adjusted profit margin of 0.7%[24]. - Basic earnings per share for the three months ended September 30, 2024, was HKD 0.06, compared to HKD 0.33 for the previous quarter[22][26]. - The company reported a total revenue of HKD 3,344,731 for the three months ended September 30, 2024, slightly up from HKD 3,474,436 in the same period last year[20]. Orders and Revenue Segments - The total new orders amounted to HKD 31.7 billion (USD 4.06 billion), reflecting a year-on-year increase of 7.1% and a quarter-on-quarter increase of 1.5%[9]. - The semiconductor solutions segment contributed USD 285 million in new orders, with a quarterly increase of 7.0% and a year-on-year increase of 40.1%[12]. - The semiconductor solutions segment's sales revenue was USD 229 million, reflecting a quarterly growth of 7.7% and a year-on-year growth of 13.7%[11]. - The SMT solutions segment's sales revenue was USD 199 million, down 7.5% quarter-on-quarter and down 18.2% year-on-year[13]. - The advanced packaging solutions, particularly TCB, continued to drive strong new order totals and sales revenue, benefiting from demand in generative AI and high-performance computing applications[6]. - The photonics and silicon photonics solutions contributed significantly to new order totals and sales revenue in the semiconductor solutions segment, driven by strong demand for 800G optical transceivers[7]. Profit Margins - The gross profit margin was 41.0%, up 683 basis points year-on-year and 94 basis points quarter-on-quarter[9]. - The operating profit margin was 5.3%, an increase of 343 basis points year-on-year and 129 basis points quarter-on-quarter[9]. - The gross margin for the semiconductor solutions segment improved to 48.6%, up 406 basis points quarter-on-quarter and 1,665 basis points year-on-year[11]. - The profit margin for the Semiconductor Solutions segment improved to 7.9% from 5.3% year-over-year[18]. - The operating profit margin improved to 5.3%, showing improvements both year-on-year and quarter-on-quarter[10]. Cash Position and Future Plans - The group maintained a strong cash position with total cash and bank deposits of HKD 5.47 billion and bank borrowings of HKD 2.58 billion as of September 30, 2024[10]. - The group plans to sell its stake in AAMI to SOAC, which may create additional value for shareholders due to growth potential in semiconductor materials[15]. - The company plans to continue focusing on market expansion and new product development to drive future growth[25]. Corporate Governance and Announcements - ASMPT announced a potential offer on October 14, 2024, under Rule 3.7 of the Hong Kong Code on Takeovers and Mergers[30]. - The unaudited profit figures mentioned in the announcement are considered profit forecasts under Rule 10 of the Code, requiring a report from ASMPT's auditors and financial advisors[30]. - ASMPT's auditors and financial advisors need additional time to complete their work and expect to release their report by November 11, 2024, or earlier[31]. - Shareholders and potential investors are advised to exercise caution when relying on the profit forecasts due to the announcement not meeting the standards set by Rule 10[31]. - The board of directors includes independent non-executive directors and executive directors, ensuring a diverse governance structure[32].

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份 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。 ASMPT LIMITED 建議交易 出售資產 建議交易及訂立資產購買協議 ASMPT Limited（「本公司」）建議通過AHKH（定義見下文，本公司全資附屬公司） 向A股上市公司（定義見下文）出售其於先進封裝材料國際有限公司（「目標公司」） 的全部股份，對價為A股上市公司將發行的新股，餘下對價以現金支付（「建議交 易」）。 於建議交易及募集配套資金（定義見下文）完成後，AHKH將持有A股上市公司不少 於20%的股份。 於二零二四年十月二十三日，AHKH與A股上市公司及A股上市公司控股股東就建議 交易訂立資產購買協議（「資產購買協議」）。 資產購買協議的主要條款 日期 二零二四年十月二十三日 （於開曼群島註冊成立之有限公司） （股份代號：0522） 公告 - 1 - 訂約方 各方均為訂約方，統稱訂約方。 建議交易 建議交易主要包括以下部分： 倘上述交易方案的任何部分因未能獲得任何必要批准（包括但不限於 ...

Financial Performance - For the six months ended June 30, 2024, ASMPT reported sales revenue of HKD 6.48 billion (USD 829 million), a decrease of 17.1% year-on-year and 5.8% half-on-half[8]. - The adjusted profit for the first half of 2024 was HKD 315 million, down 49.5% year-on-year but up 158.1% half-on-half[5]. - The gross profit margin for the second quarter of 2024 was 40.0%, down 6 basis points year-on-year and 184 basis points quarter-on-quarter[5]. - The total new orders for the second quarter of 2024 amounted to HKD 3.12 billion (USD 399 million), an increase of 3.5% year-on-year but a decrease of 2.4% quarter-on-quarter[5]. - The company declared an interim dividend of HKD 0.35 per share, down 42.6% from HKD 0.61 in 2023[9]. - As of June 30, 2024, the total backlog of orders was HKD 6.40 billion (USD 820 million)[5]. - The basic earnings per share for the first half of 2024 was HKD 0.76, a decrease of 50.0% year-on-year but an increase of 245.5% half-on-half[8]. - The operating profit margin for the first half of 2024 was 5.8%, down 512 basis points year-on-year but up 212 basis points half-on-half[5]. - The company expects revenue for the third quarter of 2024 to be between USD 370 million and USD 430 million, representing a year-on-year decrease of 9.9%[5]. Market Segments - In the first half of 2024, the group's advanced packaging solutions contributed approximately 25% of total sales revenue, amounting to about $210 million, driven by strong demand from generative AI and high-performance computing applications[12]. - The automotive sector accounted for approximately 24% of total sales revenue, contributing about $200 million, despite a slowdown in the automotive market[15]. - The communication market was the second-largest source of revenue, accounting for about 17%, with growth driven by high-end smartphones and photonic applications[17]. - The total new order amount for advanced packaging solutions saw significant growth both year-on-year and half-on-half, with TCB solutions leading the revenue contributions[12]. Research and Development - Research and development expenses for the first half of 2024 were HKD 993 million, slightly down from HKD 1.00 billion in the same period last year[7]. - The group plans to invest approximately HKD 250 million in additional operational expenditures for R&D in 2024, focusing on strategic areas including infrastructure[25]. - The group has submitted over 2,000 patents and patent applications to date, reflecting its commitment to innovation[25]. Financial Position - The group’s cash and bank deposits totaled HKD 5.44 billion, while bank borrowings stood at HKD 2.53 billion, indicating a solid liquidity position[18]. - As of June 30, 2024, the group's cash and bank deposits amounted to HKD 5.44 billion, an increase from HKD 4.80 billion as of December 31, 2023[26]. - The group's capital investments for the first half of 2024 totaled HKD 182 million, supported entirely by operational cash flow[26]. - The group’s debt-to-equity ratio increased to 0.163 as of June 30, 2024, from 0.127 as of December 31, 2023[26]. Employee and Management - The total employee cost for the first half of 2024 was HKD 2.53 billion, compared to HKD 2.49 billion in the same period of 2023[29]. - As of June 30, 2024, the group employed approximately 10,800 staff, excluding 800 flexible and outsourced employees[29]. - The remuneration for directors and other key management personnel during the period amounted to HKD 33,267,000, an increase from HKD 31,865,000 for the six months ended June 30, 2023[84]. Shareholder Information - The company declared an interim dividend of HKD 783,758 for the previous year, which was paid out during the current period[46]. - The total dividend declared for the six months ended June 30, 2024, was HKD 322.3 million, down from HKD 783.8 million in the same period last year, representing a decrease of 58.8%[63]. - The company has proposed a special dividend for the year 2023, reflecting its commitment to returning value to shareholders[40]. Acquisitions and Investments - The acquisition of Beijing Borui Advanced Technology Co., Ltd. was completed on April 28, 2023, for RMB 23,500,000 (approximately HKD 26,844,000)[86]. - The acquisition of Soft Rock Technologies Sdn. Bhd. was completed on February 16, 2023, for MYR 7,044,000 (approximately HKD 12,921,000)[86]. - The acquisition of Tech Rewards Solutions, S. de R.L. de C.V. was completed on July 4, 2023, for MXN 25,682,000 (approximately HKD 11,756,000)[86]. Corporate Governance - The company has complied with all provisions of the Corporate Governance Code as of June 30, 2024[103]. - The audit committee consists of four independent non-executive directors and one non-executive director with extensive experience in auditing, legal matters, and corporate governance[104]. - The company has adopted the standard code of corporate governance and confirmed compliance by all directors for the six months ending June 30, 2024[103].

Financial Data and Key Metrics Changes - Group revenue for the first half of 2024 was HK$828.7 million, down 17.1% year-on-year and 5.8% half-on-half due to declines in both SEMI and SMT segments [68][66] - Adjusted net profit was HK$314.6 million, down 49.5% year-on-year but increased 158.1% half-on-half [39] - Group gross margin improved to 40.9%, up 67 basis points year-on-year and 276 basis points half-on-half, mainly driven by SEMI's favorable product mix [40][66] Business Line Data and Key Metrics Changes - SEMI segment revenue increased to HK$212.5 million in Q2 2024, a 20.9% quarter-on-quarter increase, driven by TCB [70] - SMT segment revenue was HK$214.8 million in Q2 2024, a decline of 4.7% quarter-on-quarter due to softness in automotive and industrial markets [71] - Advanced Packaging (AP) solutions contributed approximately 25% of group revenue in the first half of 2024, up from 22% the previous year [58] Market Data and Key Metrics Changes - China's contribution to group revenue increased from 30% to 36% year-on-year, while revenue from Europe and the Americas declined [74] - Automotive applications contributed about 24% of group revenue in the first half of 2024, approximately HK$200 million [65] - The communication market accounted for about 17% of group revenue, with growth driven by high-end smartphones [44] Company Strategy and Development Direction - The company remains optimistic about the prospects of its AP business, with a focus on capitalizing on the demand for generative AI and high-performance computing [29][76] - The strategy includes navigating through different industry cycles by leveraging a broad-based portfolio that includes SEMI and SMT solutions [57] - The company is committed to enhancing shareholder value through a dividend policy of 50% of earnings and is considering share buybacks [46][17] Management's Comments on Operating Environment and Future Outlook - Management noted that the recovery of the SEMI-mainstream business is taking longer than anticipated due to tepid consumer spending [47] - There is a positive outlook for the AP business, with expectations of increased demand driven by AI architecture [62] - The company anticipates revenue for Q3 2024 to be between $370 million to $430 million, reflecting a decline due to lower SMT revenue [91] Other Important Information - The group ended the first half with a backlog of about $820 million, and the book-to-bill ratio was marginally below 1 at 0.98 [67] - The company has won orders for two next-generation fluxless TCB solutions, indicating strong recognition of its technology [31][60] - The automotive market continues to be a significant contributor, despite recent softness [65] Q&A Session All Questions and Answers Question: Impact of geopolitical tensions on sales to China - Management acknowledged that geopolitical tensions could impact sales, particularly with potential restrictions on chip-making equipment to China, which accounted for 36% of total revenue [3] Question: Expectations for TCB shipments and market share - Management expressed confidence in maintaining market share for fluxless TCB tools, with shipments expected to begin in the second half of 2024 [80][81] Question: Recovery pace for SEMI and SMT in Q3 - Management indicated that SEMI bookings are expected to be flattish with an upside bias, while SMT continues to face headwinds due to market softness [104][106] Question: Trends in TCB shipments and customer engagement - Management noted that TCB shipments are expected to increase significantly in 2025, driven by demand for AI architecture [128]

Financial Performance - For the six months ended June 30, 2024, the sales revenue was HKD 6.48 billion (USD 829 million), a decrease of 17.1% year-on-year and 5.8% half-on-half[4]. - The net profit for the same period was HKD 314 million, down 49.6% year-on-year but up 255.2% half-on-half[4]. - The basic earnings per share for the first half of 2024 was HKD 0.76, a decrease of 50.0% year-on-year but an increase of 245.5% half-on-half[4]. - The gross margin for the first half of 2024 was 40.9%, an increase of 67 basis points year-on-year and 276 basis points half-on-half[3]. - The total new orders for the first half of 2024 amounted to HKD 6.32 billion (USD 809 million), a decrease of 3.6% year-on-year but an increase of 11.0% half-on-half[3]. - The forecasted sales revenue for the third quarter of 2024 is expected to be between USD 370 million and USD 430 million, representing a year-on-year decrease of 9.9% and a quarter-on-quarter decrease of 6.4%[3]. - The company declared an interim dividend of HKD 0.35 per share, down 42.6% from HKD 0.61 in 2023[5]. - The group’s basic earnings per share for the six months ended June 30, 2024, were HKD 0.76, compared to HKD 1.52 in the same period of 2023[28]. Segment Performance - The advanced packaging solutions segment showed strong momentum, contributing a higher percentage to the total new orders in the first half of 2024[6]. - The semiconductor solutions segment experienced a mixed performance, with increased customer inquiries but still showing scattered order patterns[6]. - Advanced packaging solutions accounted for approximately 25% of total sales revenue in the first half of 2024, amounting to about $210 million, driven by demand from generative AI and high-performance computing applications[7]. - Automotive applications contributed the highest proportion to total sales revenue at approximately 24% or $200 million in the first half of 2024, despite a slowdown in the automotive market[10]. - The photonics solutions segment received significant orders in the first half of 2024, driven by strong growth in optical transceivers to meet the demands of generative AI and 5G networks, with a projected CAGR of 31% from 2024 to 2028[9]. Order and Revenue Trends - The total backlog as of June 30, 2024, was HKD 6.40 billion (USD 820 million)[3]. - The total new order amount for advanced packaging solutions in the first half of 2024 showed significant year-on-year and half-year growth, with TCB solutions continuing to gain momentum in Q2 2024[7]. - The group’s sales revenue for Q2 2024 was HKD 3.34 billion (USD 427 million), representing a quarterly growth of 6.5% driven by the semiconductor solutions segment[14]. - The total new orders amounted to HKD 3.12 billion (USD 399 million), a slight quarterly decline of 2.4%, but an annual increase of 3.5%[14]. - The semiconductor solutions segment's sales revenue grew 20.9% quarter-over-quarter to HKD 1.66 billion (USD 213 million), driven by various business units[15]. - The semiconductor solutions segment's new orders increased 11.6% quarter-over-quarter to HKD 1.74 billion (USD 222 million), with a year-over-year growth of 36.7%[16]. Financial Position and Liquidity - The company maintained a strong liquidity position with total cash and bank deposits of HKD 5.44 billion and bank borrowings of HKD 2.53 billion as of June 30, 2024[13]. - As of June 30, 2024, the group's cash and bank deposits totaled HKD 5.44 billion (USD 688 million), an increase from HKD 4.80 billion as of December 31, 2023[21]. - As of June 30, 2024, the group’s unsecured bank borrowings amounted to HKD 2.5 billion, an increase from HKD 2.0 billion as of December 31, 2023[23]. - The group’s cash holdings are primarily in USD, EUR, and RMB, with hedging contracts established to mitigate foreign exchange risks[23]. Employee and Operational Insights - The group’s total employee cost for the first half of 2024 was HKD 2.53 billion, compared to HKD 2.49 billion in the same period of 2023[26]. - The group employed approximately 10,800 staff as of June 30, 2024, with a significant presence in China and Singapore[26]. - The group has implemented a global human resources information system (HRIS) to enhance operational efficiency across all locations[26]. Research and Development - The group plans to invest approximately HKD 250 million in R&D in 2024, maintaining a commitment to innovation and technology advancement[20]. - Research and development expenses for the six months ended June 30, 2024, were HKD 993.2 million, slightly down from HKD 999.9 million in the same period of 2023[27]. Corporate Governance - The company has adhered to all provisions of the corporate governance code as of June 30, 2024[62]. - The audit committee consists of four independent non-executive directors and one non-executive director, all with extensive experience in auditing and regulatory matters[63]. - The board of directors includes a diverse group of independent and non-executive members, ensuring a broad range of expertise[65]. Tax and Financial Expenses - The income tax expense for the six months ended June 30, 2024, was HKD 140,730, compared to HKD 255,993 for the same period in 2023[46]. - Total financial expenses for the six months ended June 30, 2024, were HKD 105,544, up from HKD 78,246 in the previous year[45].

Financial Data and Key Metrics Changes - ASMPT reported Q1 2024 revenue of US$401.4 million, down 7.8% quarter-on-quarter due to declines in both SEMI and SMT segments, with SEMI experiencing a steeper decline due to the prolonged semiconductor down cycle [18][15] - Adjusted net profit for Q1 was HK$177.5 million, an increase of 132.1% quarter-on-quarter, and adjusted earnings per share rose by 138.9% to HK$0.43 [17] - Group gross margin slightly declined by 40 basis points quarter-on-quarter to 41.9%, primarily due to lower gross margin in SMT, but remained relatively high compared to previous quarters [19][15] Business Line Data and Key Metrics Changes - SEMI segment revenue was US$175.8 million, down 13.7% quarter-on-quarter, with declines attributed to industry weakness in deposition tools [20] - SMT segment revenue was US$225.5 million, a marginal decline of 2.6% quarter-on-quarter, contributing about 56% of Group revenue, driven mainly by automotive and industrial applications [24] - SEMI bookings grew 25.1% quarter-on-quarter to US$199 million, while SMT bookings increased 10.1% to US$210.3 million, driven by advanced packaging and automotive applications [22][24] Market Data and Key Metrics Changes - The automotive applications continued to form the highest proportion of overall Group revenue, with SMT's automotive application revenue growing despite overall market softness [5] - Group bookings increased by 17% quarter-on-quarter to US$409.3 million, supported by strong demand for advanced packaging solutions [18][16] - The Group's backlog remained stable at approximately US$849 million at the end of Q1 [16] Company Strategy and Development Direction - ASMPT remains optimistic about long-term growth prospects, supported by structural trends in automotive electrification, smart factories, green infrastructure, 5G, IoT, and AI [28] - The company is investing an additional HK$250 million in R&D and infrastructure for 2024, with projects on track to intensify throughout the year [20] - Advanced packaging solutions are highlighted as having the highest growth potential, with the company positioned to capitalize on increasing demand from generative AI and high-performance computing customers [9][28] Management's Comments on Operating Environment and Future Outlook - The macroeconomic environment presents challenges, including a slow recovery in the Chinese economy, geopolitical conflicts, and inflationary pressures affecting consumer sentiment and electronics demand [4] - Management noted that while the SEMI segment is facing a prolonged down cycle, the SMT segment is stabilizing, providing some resilience to the Group's overall performance [15][5] - The company expects Q2 2024 revenue to be between US$380 million to US$440 million, indicating a decline of 17.6% year-on-year but a slight increase of 2.2% quarter-on-quarter [26] Other Important Information - The Group's advanced packaging solutions, particularly thermal compression bonding (TCB), are expected to see increased orders driven by generative AI applications [10][12] - The company has begun shipping next-generation TCB tools for chip-to-substrate applications and anticipates further orders in the coming quarters [10][52] Q&A Session Summary Question: TCB order momentum and shipment expectations - Management indicated that TCB order momentum has improved, with shipments to leading foundry customers already initiated, and they expect continued acceleration in TCB adoption [32][33] Question: HBM adoption and market share dynamics - Management expressed optimism regarding HBM adoption for TCB, noting that TCB tools are superior to mass reflow tools in terms of accuracy and handling capabilities, with expectations for increased market share as HBM applications grow [35][39] Question: Booking trends for Q2 and recovery expectations - Management expects Q2 bookings to be flattish on a quarter-on-quarter basis, with year-on-year increases anticipated, particularly from the SEMI segment [46][47] Question: Chip-to-wafer TCB progress and order flow - Management confirmed that demo tools for chip-to-wafer applications have been delivered to a leading foundry, with expectations for concrete orders in the latter part of 2024 or early 2025 [52][53] Question: Gross margin trends and future expectations - Management clarified that while Q1 gross margins were impacted by one-off sales from previously provisioned inventory, they expect margins to improve as advanced packaging contributions increase over time [76][78]

ASMPT digital world Q1 2024 Results Presentation 24 April 2024 Disclaimer The information contained in this presentation is provided for informational purpose only and should not be relied upon for the purpose of making any investment or for any other purpose. Some of the information used in preparing this presentation was obtained from third parties or public sources. The information contained in this presentation has not been independently verified. No representation or warranty, expressed or implied, is ...