＜Research＞M Stanley Maintains Overweight on ASMPT (00522.HK) as 2Q Results Miss

　　According to a report by Morgan Stanley, ASMPT (00522.HK) -25.950 (-22.664%) Short selling $142.66M; Ratio 23.421% reported lower-than-expected results for 2Q with revenue of $3.342 billion, 4% and 3% higher than the broker's and the market's estimates. Its net profit of $135 million was 25% and 34% lower than the broker's and the market's estimates.

　　The company is expected to have its 3Q revenue decline by 6.4% QoQ at the midpoint, 17% and 20% below the broker's and the market's estimates. ASMPT remains positive in the near term about its AP business prospects. However, it is believed that the recovery of the SEMI mainstream business needs to take longer time than expected.

　　Optimistic about ASMPT's growing advanced packaging momentum, Morgan Stanley maintained an Overweight rating on it with a TP of $130.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-24 12:25.)

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