Lyon raises ASMPT target price to HKD 95, maintaining "Outperform Market" rating.

Jin10 data reported on October 31 that Lyon published a report stating that ASMPT (00522.HK) adjusted net profit for the third quarter fell 24% from the previous quarter to HKD 100.6 million, below the market expectation of HKD 200.8 million, mainly due to a decline in gross margin. The report indicated that the company's TCB business is progressing steadily, successfully securing the industry's first HBM4 12H order from two global high-end memory manufacturers. The growth of mainstream businesses benefits from demand for artificial intelligence. Based on a higher price-to-book ratio, the target price has been raised from HKD 76.6 to HKD 95, maintaining an “outperform the market” rating.