ASMPT跌超3% 公司被剔除恒生科技指数 AP业务存在平淡问题

Core Viewpoint - ASMPT's stock dropped over 3% following its removal from the Hang Seng Tech Index, despite third-quarter earnings meeting expectations, primarily driven by AI-related business [1] Financial Performance - ASMPT reported a third-quarter revenue that met expectations, benefiting from advanced packaging and mainstream business related to AI [1] - The gross margin was 35.7%, influenced by the product mix [1] - The company incurred a net loss of 269 million yuan, largely due to the impact of the Shenzhen factory liquidation [1] - After excluding restructuring costs and inventory write-offs, the adjusted profit for the quarter was 102 million yuan [1] Analyst Adjustments - CICC noted that while third-quarter revenue met expectations, the profit was below their forecast [1] - Due to the cancellation of one-time orders and the restructuring of the Shenzhen factory (which has been completed), as well as a lackluster performance in the AP business, CICC has reduced the 2025 revenue forecast by 5% to 13.56 billion yuan and net profit forecast by 75% to 250 million yuan [1] - The profit forecast for 2026 remains unchanged [1]