ASMPT (00522) opened more than 4% higher in morning trading. At the time of writing, the stock was up 3.92%, trading at HK$169.5, with a turnover of HK$27.45 million.

The company announced plans to sell all issued and outstanding ordinary shares of its target company, ASMPT NEXX. The total purchase price is $120 million in cash. Following the completion of the transaction, the target company will cease to be a subsidiary, and its financial results will no longer be consolidated into the group's financial statements.

Recently, CICC International released a research report stating that driven by SEMI and SMT, ASMPT's orders for the first quarter of 2026 reached a record high. Profit performance exceeded expectations. The firm maintained its "Outperform" rating. It raised the target price-to-book ratio multiple from the previous 3x to a projected 4.6x for the 2026 fiscal year, and accordingly increased the target price from HK$125 to HK$190.

The report indicated that due to improved sales performance and a stronger recovery in profit margins, the adjusted net profit forecasts for the 2026 and 2027 fiscal years were raised by 39% and 10%, respectively. This adjustment is based on the increasing importance of Advanced Packaging in IC production, ASMPT's leading position in AP equipment, particularly in the TCB field, and the company's strategic shift towards focusing more on back-end Advanced Packaging.