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

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 .