Ge Long Hui·2025-08-12 06:27Core Viewpoint - ASMPT announced the closure of an older semiconductor equipment manufacturing facility in mainland China, part of its ongoing efforts to optimize the global supply chain by ceasing non-core production [1] Group 1: Company Actions - The management expects no impact on product delivery and remains committed to the mainland market [1] - The one-time restructuring cost of HKD 360 million may reduce the gross margin of the semiconductor business in Q3 and Q4, but a more streamlined cost base will provide upward potential for gross margins next year [1] Group 2: Financial Outlook - The bank anticipates that Q3 will be a short-term bottom, accompanied by a strong earnings recovery next year [1] - The bank reiterated a "buy" rating on the stock, raising the target price from HKD 75 to HKD 85 [1]