Key Takeaways:
ASMPT Ltd. (00522.HK) posted H1 2026 revenue of $1.14 billion, up 42.5% from a year earlier, as AI server demand and a recovery in mainstream semiconductor business drove record bookings across both its SEMI and SMT segments.
"The proliferation of AI will continue to drive structural demand for advanced AI applications and computing needs, benefiting our products," Chief Executive Officer Robin Ng said on the earnings call. Ng, who is stepping down on Aug. 11 after six years as CEO, said the company's advanced packaging solutions are "key enablers for present and future AI infrastructure."
Q2 revenue reached $630 million, above the company's guidance range of $540 million to $600 million and 52.1% higher year on year. Adjusted gross margin expanded to 42.5%, up 284 basis points from a year earlier, driven by favorable product mix and higher volumes in the SMT business. Adjusted net profit for the quarter was HKD 637.5 million, more than triple the year-ago figure. The board declared an interim dividend of HKD 0.97 per share, representing a payout ratio of about 50%.
Group bookings hit $1.63 billion in the first half, up 85.1% year on year, with the book-to-bill ratio reaching 1.43 — the highest since H1 2021. The SMT segment posted record bookings driven by AI server demand, while SEMI advanced packaging bookings doubled year on year, led by thermal compression bonding and photonics solutions. Revenue from photonics, including high-speed optical transceivers for 800G and beyond, nearly tripled to about $75 million in the first half.
For the third quarter, ASMPT guided revenue of $630 million to $690 million, with a midpoint 11% above consensus. Management said bookings should grow by a high single-digit percentage sequentially, driven by TCB and photonics, though longer lead times for certain materials may extend order-to-billing conversion to six to nine months.
The guidance raise signals management expects AI-driven demand to sustain through the second half. Investors will watch the transition to co-packaged optics and chip-to-wafer TCB, which management said could become meaningful growth drivers by 2027 to 2028.
This article is for informational purposes only and does not constitute investment advice.
