ASMPT(00522) - 2019 - 中期财报

Financial Performance - ASM Pacific Technology Limited reported revenue of HKD 7.27 billion (USD 927 million) for the first half of 2019, a decrease of 24.4% compared to HKD 9.62 billion (USD 1.23 billion) in the same period of 2018[11]. - The company's net profit for the first half of 2019 was HKD 178 million, down 87.2% from HKD 1.4 billion in the first half of 2018[9]. - Basic earnings per share for the first half of 2019 were HKD 0.44, compared to HKD 3.46 in the same period of 2018[11]. - The group's revenue for the first half of 2019 was $927.3 million, a decrease of 24.4% year-on-year[14]. - The total profit before tax for the six months was HKD 368,611,000, a significant decline of 80.0% from HKD 1,834,784,000 in the previous year[91]. - The company reported a net foreign exchange loss of HKD 40,800,000 during the period, compared to a net gain of HKD 1,500,000 in the same period last year[101]. Orders and Backlog - Total new orders amounted to USD 1.06 billion in the first half of 2019, a decrease of 28.3% year-on-year[9]. - As of June 30, 2019, the total unfilled orders stood at USD 795 million[9]. - The total new orders for the group in the first half of 2019 amounted to $1.062 billion, a slight decrease of 2.8% compared to the second half of the previous year[14]. - The backlog of unfulfilled orders at the end of the quarter was $795 million, slightly below the record of $809 million in Q2 2018[13]. Segment Performance - The revenue from backend equipment business was USD 402 million, down 37.6% year-on-year[9]. - The revenue from the backend equipment segment in Q2 2019 was $206.1 million, a decrease of 43.2% year-on-year[22]. - The revenue for the materials segment in Q2 2019 was HKD 448.3 million, down 25.0% year-on-year but up 13.2% quarter-on-quarter[27]. - The revenue for the SMT solutions segment in Q2 2019 was HKD 1,549.7 million, down 15.1% year-on-year and down 10.3% quarter-on-quarter[28]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 1.30 per share, consistent with the previous year[12]. - The group proposed an interim dividend of HKD 1.30 per share, which is 2.95 times the earnings per share for the first half of 2019[13]. - The interim dividend will be distributed around August 30, 2019, with a record date for shareholders from August 19 to August 21, 2019[155]. Cash Flow and Liquidity - Cash and bank deposits as of June 30, 2019, amounted to HKD 2.51 billion[10]. - The current ratio as of June 30, 2019, was 2.79, compared to 1.95 on December 31, 2018[31]. - The company reported a net cash increase of HKD 267,876 for the period, up from HKD 129,659 in the previous year, reflecting a growth of approximately 106.6%[49]. Research and Development - Research and development expenditure for the year to date was HKD 829 million, representing 12.9% of equipment business revenue[30]. - The group remains cautiously optimistic about the long-term future of the semiconductor industry despite short-term challenges, focusing on R&D in advanced packaging, CMOS image sensors, and 5G-enabled devices[196]. Market Outlook - The company expects third-quarter revenue to be between USD 550 million and USD 600 million, with all three business segments anticipated to show quarter-on-quarter growth[36]. - The company remains cautious about the short-term outlook for the semiconductor industry but is optimistic about long-term growth opportunities in advanced packaging and IoT[34]. Employee and Shareholder Engagement - The company has granted a total of 1,946,900 share awards to approximately 1,500 employees, with the vesting period ending on December 16, 2019[33]. - The total employee cost for the first half of 2019 was HKD 2,280 million, down from HKD 2,450 million in the same period of 2018[33]. Financial Position and Assets - Non-current assets increased to HKD 7,500,007,000 as of June 30, 2019, compared to HKD 5,907,439,000 at the end of 2018, reflecting a growth of 27%[43]. - Current assets totaled HKD 14,189,624,000, a decrease of 6.5% from HKD 15,167,963,000 at the end of 2018[43]. - The company’s total assets were valued at 13,275,991, demonstrating strong asset management[46]. Compliance and Governance - The company has complied with all corporate governance codes as of June 30, 2019[152]. - The audit committee consists of three independent non-executive directors and one non-executive director with extensive experience in audit and regulatory matters[153].