ASMPT (00522) announced its 2025 financial results, revealing annual revenue of HK$145.2 billion (US$18.6 billion), representing a year-on-year increase of 9.8%. The consolidated profit after tax amounted to HK$902 million, a significant rise of 163.6% compared to the previous year. Basic earnings per share were HK$2.17. The company declared a final dividend of HK$0.34 per share and a special cash dividend of HK$0.79 per share.

Driven by artificial intelligence (AI), the group's Advanced Packaging (AP) business achieved sales revenue of US$532 million, marking a 30.2% year-on-year growth, with Thermocompression Bonding (TCB) solutions being the most significant contributor. The group's mainstream business sales revenue grew by 3.3% year-on-year, primarily fueled by demand for data transmission and energy management in AI data centers, alongside high capacity utilization in China's electric vehicle (EV) industry and Outsourced Semiconductor Assembly and Test (OSAT) companies. However, automotive and industrial market applications outside of China remained weak.

Propelled by TCB, Advanced Packaging sales revenue increased by 30.2% year-on-year. The contribution of Advanced Packaging to the group's total sales revenue grew from 26% to 30% in 2025.

Looking ahead, the company expects revenue for the first quarter of 2026 to be between US$470 million and US$530 million. Based on the midpoint of this range, this represents a sequential decrease of 1.8% but a year-on-year increase of 29.5%. The midpoint of the Q1 2026 revenue forecast (from continuing operations only) is already above current market expectations.

The group anticipates that the Semiconductor Solutions segment will continue to achieve sequential growth, primarily driven by TCB and high-end die bonders, though this will be offset by seasonal factors in the Surface Mount Technology (SMT) Solutions segment. The year-on-year revenue growth is expected to be driven by strong momentum in the SMT Solutions segment and steady growth in the Semiconductor Solutions segment.

ASMPT forecasts an improvement in its gross profit margin for the first quarter of 2026. This is mainly due to increased shipments of TCB and high-end die bonders, which are expected to push the gross margin of the Semiconductor Solutions segment back to a mid-40% level. However, the gross margin for the SMT Solutions segment is expected to remain at a similar level due to continued weakness in the automotive and industrial end markets.