CICC International: Lowering ASMPT (00522.HK) target price to 90 Hong Kong dollars while maintaining an "outperform" rating.

According to the Wisdom Finance and Economics app, China International Capital Corporation (CICC) released a research report stating that considering the continuous soft demand from automotive and industrial applications, they believe that ASM Pacific Technology Ltd. (00522.HK) may have a more conservative performance in surface mount technology (SMT) business revenue. As a result, they have lowered profit forecasts for 2025, 2026, and 2027 by 3%, 12%, and 1% respectively. They expect that increased sales and marketing efforts, as well as research and development investment in advanced packaging tools, will lead to higher operating expenses for the group. The target price has been lowered from HK$100 to HK$90, with a "outperform" rating maintained.