麦格理发表报告表示，ASMPT(00522.HK) 去年第四季业绩表现逊于预期，主要是表面黏着技术(SMT)业务毛利率低，收入按年持平至34亿元，大致符合预期。毛利率按年跌509个基点，逊于预期，每股盈利按年跌94%，逊于预期。
该行料，公司SMT业务将持续受压，由于终端市场疲软，令其面临巨大的销量及价格压力，该行相信，该情况将会持续下去，并有机会进一步侵蚀利润率。管理层表示，SMT订单能见度较低，尤其在汽车及工业等领域，目前表现疲软。该行预料，今年下半年或会触底，但呈提前复苏的上行风险。
该行指，将ASMPT(今年及明年盈利预测分别下调85%及67%，此相当于预测市账率1.8倍，同时将其目标价由111元下调至68元，其评级由“跑赢大市”降至“中性”，投资者宜等待更佳的介入点。(ca/w)
(港股报价延迟最少十五分钟。沽空资料截至 2025-02-26 16:25。)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.