Core Viewpoint - The company reported Q2 2025 earnings, with revenue meeting guidance and showing year-over-year growth, driven by strong demand in semiconductor solutions and signs of recovery in SMT business [3][4]. Group 1: Q2 Financial Performance - Q2 revenue was $436 million (34 billion HKD), up 1.8% YoY and 8.9% QoQ, aligning with the guidance range [3]. - Semiconductor solutions revenue was 20.1 billion HKD ($2.58 billion), up 20.9% YoY and 1% QoQ, driven by strong demand for TCB tools [3]. - SMT business revenue was 13.9 billion HKD ($1.79 billion), down 17.2% YoY but up 22.6% QoQ, with strong sales in China and advanced packaging partially offset by weakness in automotive and industrial markets [3]. - Q2 gross margin decreased to 39.7%, down 33 basis points YoY and 119 basis points QoQ; adjusted net profit was 1.35 billion HKD, down 1.6% YoY but up 62.1% QoQ [3]. Group 2: Order and Backlog Insights - The company secured new orders worth $482 million in Q2, up 20.2% YoY and 11.9% QoQ; backlog stood at $873 million with an order-to-ship ratio of 1.10 [4]. - Semiconductor solutions accounted for 59% of total revenue, with new orders of $213 million, down 4.5% QoQ due to uneven advanced packaging orders [4]. - SMT business showed recovery with new orders of $269 million, up 29.4% QoQ and 51.2% YoY, driven by demand from a smartphone client and AI server needs [4]. Group 3: Future Outlook and Growth Drivers - The company guided Q3 revenue to be between $445 million and $505 million, representing a 10.8% YoY increase and 8.9% QoQ growth, benefiting from improvements in advanced packaging and SMT businesses [4]. - Despite ongoing weakness in automotive and industrial markets, the increase in Q2 orders is expected to support Q3 performance [4]. - Key growth drivers include strong TCB demand, recovery in mainstream packaging equipment and SMT demand, and sales growth in the Chinese market [4]. Group 4: Strategic Developments - The company is deepening its focus on TCB, HB, and CPO, with ongoing production and shipment of TCB tools [5]. - Significant orders have been secured for photonic tools and CPO layouts, with expectations to start deliveries of HB tools in Q3 [6].