建银国际表示，ASMPT(00522.HK) 2024年第四季业绩因毛利率降低及经营开支增加而未达预期。先进封装业务表现强劲，主流工具将复苏。
为反映更保守的表面贴装技术(SMT)业务销售预测和较低的利润率展望，该行将ASMPT的2025/2026财年盈利预测分别下调25%/5%，预计销售与市场推广力度加大以及尖端封装工具研发导致的经营开支上升，可能对公司利润率和盈利能力构成压力。
该行对ASMPT的目标价由108元下调至100元，认为公司为长期投资选择，评级维持“跑赢大市”。该股股价近几个月持续下跌，目前处于低位，对应2025/2026年预测市净率为1.7倍/1.6倍，估值并不高。当前为良好入市点。(ad/j)(港股报价延迟最少十五分钟。沽空资料截至 2025-02-27 12:25。)
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