ASMPT H1 2026 Results: How AI Chip Packaging Demand Drove a 169% Profit Surge and Record Bookings

ASMPT, a Hong Kong-listed semiconductor equipment maker, reported its strongest financial performance in years for the first half of 2026, with net profit surging 169% year-on-year to HK$583.5 million. The results were driven overwhelmingly by demand for AI chip packaging and photonics equipment, as the company benefited from the rapid buildout of AI data centers and advanced server infrastructure. The full earnings release, along with management commentary and guidance, paints a clear picture of a company whose business mix is shifting decisively toward AI-related segments.

H1 2026 Key Financial & Operational Results

ASMPT reported strong first-half 2026 results from continuing operations, driven overwhelmingly by AI infrastructure demand .

Metric (Continuing Operations)	H1 2026 Value	Change (HoH)	Change (YoY)
Revenue	HK$8.90 billion (US$1.14 billion)	+18.9%	+42.5%
Bookings	HK$12.75 billion (US$1.63 billion)	+68.1%	+85.1%
Net Profit (attributable to shareholders)	HK$583.5 million	—	+169%
Adjusted Gross Margin	41.2%	+441 bps	+86 bps

The company declared an interim dividend of HK$0.85 per share .

How AI Chip Packaging Demand Drove the 169% Net Profit Surge and Record Bookings

Net profit surged 169% year-on-year to HK$583.5 million as AI demand translated into high-margin equipment orders across multiple product lines .

• Record bookings: H1 2026 bookings of US$1.63 billion were the highest in recent years, up 85.1% YoY, with a strong book-to-bill ratio signaling sustained momentum .
• AI-driven demand breadth: Management reported that AI is driving demand "across a wide range of products," from advanced packaging and thermal compression bonding (TCB) to photonics, co-packaged optics (CPO), and mainstream platforms .
• Q2 2026 alone: Q2 bookings hit US$903.6 million, up 24.8% quarter-on-quarter and 97.6% year-on-year, with Semiconductor Solutions (SEMI) bookings jumping 46% QoQ and SMT bookings reaching an all-time high .
• Margin expansion: The adjusted gross margin improved to 41.2% as the higher-margin SEMI segment contributed a larger share of revenue .

Revenue Mix Shift Toward AI-Related Segments

ASMPT's revenue composition is shifting decisively toward AI-focused semiconductor packaging and photonics .

• Advanced Packaging revenue grew 17% year-on-year and contributed 30% of group revenue .
• Photonics revenue nearly tripled year-on-year, reflecting surging demand for optical interconnect and CPO equipment used in AI data centers .
• Semiconductor Solutions (SEMI): Q2 2026 revenue was US$369.1 million, up 34.9% QoQ and 56.1% YoY, driven by TCB, photonics, and mainstream packaging tools .
• SMT Solutions: Achieved record quarterly bookings, reflecting broad AI server and electronics assembly demand .

In short, AI-related advanced packaging and photonics now represent a growing and high-margin share of ASMPT's business, while mainstream SMT also benefits from the AI buildout.

Q3 2026 Outlook & Guidance

Management guided for another solid quarter ahead, with revenue above market consensus .

• Q3 2026 revenue guidance: US$630 million to US$690 million .
• The midpoint of US$660 million implies 4.8% sequential growth and 46.3% year-on-year growth .
• Bookings are expected to grow by a high single-digit percentage sequentially, primarily driven by TCB and photonics .
• Management noted some supply chain challenges due to rapid growth but expressed confidence that AI equipment demand remains intact despite nascent bubble fears .

Leadership Transition: CEO Robin Ng Stepping Down

• Robin Ng will retire as Group CEO effective August 11, 2026 .
• He was originally appointed in 2018 and formally announced his intention to retire in February 2026 .
• Bassel Haddad has been named as his successor and will take over as CEO on August 11, 2026 .
• Group Chief Strategy Officer Guenter Lauber also retired from the Board in early May 2026 .