ASM Pacific 522

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ASM Pacific 0522.HK

Short positions in ASM Pacific decreased 55.9% during the week ended May 28 (Figure
5).

The outstanding short positions were equivalent to 2.73% of its free float.

The five-day moving average short-selling amount during the week ended June 4 was HK$7.26m, dropping from HK$90.60m in the week ended May 28.

Source: CIMB

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ANNOUNCEMENT OF 2021 UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2021

Revenue: 38%
Net Profit: 126%
Net Profit Margins: 14%

https://www1.hkexnews.hk/listedco/listc ... 800011.pdf

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ASM PACIFIC: Reasonable Purchase Premium for Electronic Parts; Cost to Be Partially Passed Onto Customers

ASM PACIFIC (00522.HK)'s inventory value as of the end of June reached $7.37 billion, compared to $5.77 billion last year.

The group's CEO Robin Ng explained that amidst industry-wide semiconductor shortage and supply chain constraints, the group have built inventories for some key components by means including paying premiums selectively to acquire major electronic parts.

Ng added that part of the increased raw material cost will be passed onto the customers within a reasonable range.

Source: AAStocks Financial News

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ASM Pacific's profits soar 260pc to $1.26b

The company, which provides hardware and software solutions for the manufacture of semiconductors and electronics, saw revenue soar 41.5 percent to a record high of HK$9.51 billion for the six months ended June 30, with half-yearly bookings doubling to HK$15.15 billion.

The company declared an interim dividend of HK$1.30 per share.

Chief executive officer Robin Gerard Ng Cher-tat said the company may raise its prices due to chip shortages, but new orders were not affected.

Meanwhile, worldwide silicon wafer area shipments rose 6 percent to 3.53 billion square inches in the second quarter this year, surpassing the historical high set in the first quarter, said SEMI Silicon Manufacturers Group.

SEMI SMG said in its quarterly analysis that the second quarter silicon wafer shipments also rose 12 percent year-on-year.

"Demand for silicon continues to see strong growth driven by multiple end-applications. The supply of silicon for both 300mm and 200mm applications is tightening," said Neil Weaver, chairman of SEMI SMG.

Silicon wafers are the fundamental building material for the majority of semiconductors, which are vital components of all electronics.

Source: The Standard

https://www.thestandard.com.hk/section- ... -to-$1.26b

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ASM Pacific saw 263pc jump in profit

ASM Pacific Technology (0522) posted a 263 percent jump in net profit to HK$2.26 billion for the nine months ended September, driven by rising demand from both conventional and electric vehicle markets, it said in an exchange filing.

During the period, the Hong Kong-listed semiconductor producer's revenue grew 51 percent to HK$15.75 billion and its bookings during nine months also surged by 80.3 percent year-on-year to HK$20.87 billion.

The company held cash and bank deposits of HK$4.49 billion as of the end of September.

The company expects revenue for the fourth quarter to be up to US$770 million (HK$6 billion) as semiconductor supply chain bottlenecks, power supply constraints and pandemic-related disruptions continued to affect the broader market.

And its full-year target is to reach US$2.8 billion, which means 46 percent growth year on year.

Source: The Standard

https://www.thestandard.com.hk/breaking ... -in-profit

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ASM PACIFIC(522)

Analysis：
Amidst an industry-wide semiconductor shortages and both supply chain and logistical bottlenecks, ASM Pacific(522) focused on two key areas.

First, in order to ensure minimum disruption to customer delivery schedules, the Group calibrated its highly flexible global capacity allocation capabilities, leveraging a significantly higher proportion of external manufacturing capacity to support internal manufacturing capacity.

Second, the Group was able to strengthen its supply chain resilience by maintaining strategic levels of inventory for key electronics and electrical components and making spot purchases for some critical components.

The Group delivered a record 9M revenue performance of HK$15.75 billion. This represented robust YoY growth of 51.5%. The Group also saw record net profit of HK$2.26 billion, a YoY improvement of 333.9%. (I do not hold the above stock)

Strategy：
Buy-in Price: $84.00, Target Price: $92.00, Cut Loss Price: $79.00

Source: Phillips

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C Suisse Cuts ASM PACIFIC (00522.HK) TP to $112; Rated Outperform

2021/10/28

ASM PACIFIC (00522.HK) posted 3Q21 result beat with earnings rising 4.8 times YoY to $1 billion, being 22-29% above forecast.

The firm's revenue exceled its top-end growth guidance.

Its GM was flattish QoQ at 40.6%, meeting Credit Suisse's expectation.

The stock was kept at Outperform, with target axed by 8% to $112.

Source: AAStocks Financial News

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BofAS Axes ASM PACIFIC (00522.HK) TP to $140; Rated Buy

2021/10/28

BofA Securities lowered ASM PACIFIC (00522.HK)'s target from $160 to $140, given weaker 4Q21 and 2022 earnings growth momentum.

However, the broker did not see it as a downturn sign, as the firm's record revenue, operating profit and EPS seem sustainable.

ASM PACIFIC was restated at Buy.

Source: AAStocks Financial News

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ASM Pacific Tech's earnings soar 398pc

by Eleanor Wang

Revenue grew 49.3 percent to HK$21.95 billion,

Net profit jumped 398 percent to HK$3.18 billion last year.

The final dividend per share was HK$2.60, and the 2021 full-year dividend of HK$3.90 per share is an around 44 percent increase from 2020.

New orders totalled HK$5.25 billion, up 25 percent year-on-year.

Backlog of HK$10.06 billion at the end of last year and a book-to-bill ratio of 1.19.

Cash and bank deposits of HK$4.88 billion as of December 31, 2021.

Source: The Standard

https://www.thestandard.com.hk/section- ... soar-398pc

https://www1.hkexnews.hk/listedco/listc ... 300011.pdf

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Beneficiary of customers’ capex cycle

4Q21 core net profit grew 170% yoy on 44% revenue growth and 1,051bp GPM expansion, thanks to strong orders for wire/die bonder and AP tools.

FY22F outlook remains promising as ASMPT will benefit from strong demand
from automotive and communication markets.

Reiterate Add. TP raised to HK$134 on 33%/31% FY22F/23F EPS hikes.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... F524BDDA1A