Tuesday, August 4, 2020
Martin Hennecke

Semiconductors rake in profits
ASM Pacific Technology (0522) said its first-half net profit more than doubled from a year ago to HK$391 million, driven by rising 5G sector demand despite pandemic and political uncertainties. Earnings per share were HK$0.95 for the first half and the company declared an interim dividend of 70 HK cents. Revenue grew 5.9 percent year-on-year to US$992 million (HK$7.74 billion). The semiconductor beck-end equipment maker has introduced strategic investors to a joint venture, which is expected to generate a US$110 million net profit. This came as Semiconductor Equipment and Materials International forecast that the global semiconductor packaging materials market would grow from US$17.6 billion in 2019 to US$20.8 billion in 2024, a compound annual growth rate of 3.4 percent, driven by the growth of the chip industry. Elsewhere, Apple sold 13 million iPhones in the mainland market in the second quarter, a 62 percent year-on-year increase, according to data from CINNO Research. Also, ZTE's (0763) former mobile division chief executive officer Adam Zeng Xuezhong will join Xiaomi (1810), responsible for the supply chain, said Xiaomi's chairman Lei Jun. Serving as the senior vice president of ZTE since 2006, Zeng created sales records of nearly HK$1 billion across many regions in China.
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