Investment Rating - The report does not explicitly state an investment rating for the company Core Insights - The company reported a revenue of NT140.238billionforQ22024,representingayear−over−yearincreaseof31402.38 billion, with a gross margin of 16.4% and an operating profit margin of 6.4% [3][4] - The continuous improvement in gross margin is attributed to the depreciation of the New Taiwan Dollar and changes in product mix within ATM and EMS businesses [3][4] Revenue Breakdown - ATM Business: Revenue of NT778billioninQ22024,withagrossmarginof22.1629 billion in Q2 2024, with a gross margin of 9.6% and an operating profit margin of 3.1% [10][11] Capital Expenditure - Total capital expenditure for Q2 2024 was US406million,withallocationsofUS215 million for packaging, US154millionfortesting,US31 million for EMS, and US$6 million for interconnect materials and other businesses [6][10] Company Guidance - The company anticipates that the ATM business will see revenue growth of 15% to 20% in Q3 2024 compared to Q2 2024, with operating profit margins slightly above 3.5% [12][13] Demand Outlook - The advanced packaging market is thriving, and the company is working to expand capacity to meet increasing demand, particularly in the smartphone sector, which is expected to see a positive trend in Q3 and Q4 2024 [12][25]
ASE Technology Holding(ASX) 华创证券·2024-08-05 09:31