ASMPT(HK:00522)2021-08-30 08:42Financial Performance - The revenue for the second quarter of 2021 reached HKD 5.18 billion (USD 667 million), marking a new high[5]. - The total new orders for the second quarter exceeded expectations at HKD 7.32 billion (USD 943 million)[5]. - The gross profit margin significantly increased by 257 basis points year-on-year and 101 basis points quarter-on-quarter[5]. - For the first half of 2021, revenue reached HKD 95.1 billion (USD 12.3 billion), a 41.5% increase compared to HKD 67.3 billion (USD 8.66 billion) in the same period of 2020[9]. - The total new orders for the first half of 2021 reached a record high of HKD 151.5 billion (USD 19.5 billion)[6]. - The gross profit margin for the first half of 2021 surged by 260 basis points year-on-year and 481 basis points half-on-half[6]. - The net profit for the second quarter was HKD 732 million, up from HKD 324 million in the second quarter of 2020[9]. - The earnings per share for the first half of 2021 was HKD 3.05, compared to HKD 0.95 in the same period of 2020[8]. - The group achieved a record revenue of HKD 9,514.2 million (USD 1.23 billion) in the first half of 2021, representing a year-on-year increase of 41.5% and a half-year increase of 19.3%[17]. - The total new orders reached a record high of HKD 15,150.3 million (USD 1.95 billion) in the first half of 2021, marking a year-on-year increase of 100.2% and a half-year increase of 84.7%[17]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 1.30 per share, an increase from HKD 0.70 in 2020[10]. - The company announced an interim dividend of HKD 1.30 per share, an increase of 86% compared to the first half of 2020[29]. - The company declared a final dividend of HKD 2.00 per share for 2020, totaling HKD 821,592,000, and an interim dividend of HKD 1.30 per share for 2021, totaling HKD 534,035,000[73]. Order Backlog and Future Outlook - As of June 30, 2021, the total backlog of orders reached a record high of HKD 115.4 billion (USD 14.9 billion)[6]. - The total unfulfilled orders as of June 30, 2021, reached HKD 115.4 billion (USD 14.9 billion), with an order-to-delivery ratio of 1.59[18]. - The group anticipates revenue for Q3 2021 to be between USD 730 million and USD 780 million, indicating a strong performance in the second half of the year[32]. - The group expects revenue for the third quarter of 2021 to be between USD 730 million and USD 780 million, maintaining a strong outlook for the second half of the year[151]. Research and Development - The company invested 9.4% of its equipment business revenue (HKD 890 million) in research and development during the first half of 2021[27]. - The group continues to invest approximately 10% of its equipment business revenue in R&D to strengthen its technological capabilities[152]. - The company is investing significantly in the development of new TCB solutions to strengthen its leadership position in the market[15]. - The group is investing significantly in hybrid bonding technology, with plans to deliver developments by the end of the year[135]. Market and Industry Trends - The semiconductor supply chain management strategy was adjusted from "just-in-time" to "just-in-case" to enhance resilience amid ongoing shortages[13]. - The demand for high-precision tools (2 microns and below) has shown exceptional performance, driven by customer needs in digital transformation and other growth trends[15]. - VLSI Research forecasts that semiconductor content will increase from 945 billion units in 2020 to 1.43 trillion units by 2025, with the packaging and assembly equipment market expected to grow from USD 3.6 billion in 2020 to USD 5.6 billion by 2025[32]. - The automotive market showed strong growth, particularly driven by electric vehicle demand in mainland China[137]. Employee and Operational Metrics - The group employed approximately 11,900 employees globally as of June 30, 2021, excluding 2,700 temporary or short-term contract workers and outsourced staff[31]. - Total employee costs for the first six months of 2021 amounted to HKD 2.62 billion, compared to HKD 2.12 billion in the same period of 2020, reflecting a year-on-year increase of approximately 23.6%[31]. - The company has initiated a new employee stock incentive plan to enhance employee engagement and retention[45]. Financial Position and Cash Flow - The company held cash and bank deposits of HKD 41.0 billion as of June 30, 2021, supporting increased delivery volumes to meet growing product shipment demands[18]. - The company reported a net cash position with bank balances and cash amounting to HKD 4,093,503 as of June 30, 2021[40]. - Operating cash flow for the six months ended June 30, 2021, was HKD 977,572,000, a decrease of 37% from HKD 1,553,149,000 in the same period of 2020[46]. - Net cash generated from operating activities was HKD 704,699,000, down 47% from HKD 1,336,733,000 year-on-year[46]. Taxation and Compliance - The effective tax rate for the group's subsidiaries in China is 25%, while the Advanced Technology (China) Co., Ltd. benefits from a reduced rate of 15% due to its status as a High-tech Service Enterprise[66]. - The company’s tax expense in Hong Kong for the current period was HKD 27,021,000, compared to HKD 10,759,000 in the previous year[65]. - The company incurred a total tax expense of HKD 356,038 for the six months ended June 30, 2021, compared to HKD 108,744 for the same period in 2020, reflecting a significant increase[184]. Shareholder Information - The company’s major shareholders include ASM International N.V. and ASM Pacific Holding B.V., each holding 25.07% of the shares[112]. - The total number of shares held by major shareholders includes 103,003,000 shares by ASM International N.V.[112]. - The company issued a total of 410,796,000 shares as of June 30, 2021, with a paid-up capital of HKD 41,079,000[17].