ASMPT(00522)2024-09-12 08:41Financial 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 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].