ASMPT(00522)2023-03-31 08:54Financial Performance - Sales revenue for 2022 was HKD 19.36 billion (USD 2.47 billion), a decrease of 11.8% year-on-year[6]. - Operating profit margin was 16.7%, down 216 basis points year-on-year[6]. - Net profit for the year was HKD 2.62 billion, a decrease of 17.5% year-on-year[6]. - Basic earnings per share for 2022 were HKD 6.36, down 17.6% year-on-year[7]. - The group’s consolidated profit after tax for the year was HKD 2.62 billion, representing a year-on-year decline of 17.5%[16]. - The basic earnings per share for the year was HKD 6.36, down from HKD 7.72 in 2021[16]. - The total new order amount for the group was HKD 18.44 billion (USD 2.36 billion), reflecting a year-on-year decline of 29.4%[30]. - The group recorded a total sales revenue of HKD 19.36 billion (USD 2.47 billion) for the year 2022, representing a year-on-year decline of 11.8%[29]. - The group’s profit, including AAMI's performance, declined by 17.5% year-on-year to HKD 2.62 billion[32]. - The total new orders amounted to HKD 3.12 billion (USD 398 million), a year-on-year decrease of 40.6%[32]. Dividends and Shareholder Returns - The company declared a total dividend of HKD 3.20 per share, a decrease of 17.9% year-on-year[6]. - The dividend per share for the year 2022 was announced at HKD 3.20, with a payout ratio of approximately 50% of the annual profit[10]. - The proposed final dividend is HKD 1.90 per share, compared to HKD 2.60 per share in 2021, resulting in a total annual dividend of HKD 3.20 per share, down from HKD 3.90 per share in 2021[51]. - The group declared dividends of HKD 1.61 billion in 2022, compared to HKD 1.36 billion in 2021[42]. - The company has a stable annual dividend payout ratio of approximately 50%[137]. Market Outlook and Growth Strategies - The company maintains an optimistic outlook due to increasing demand for silicon and semiconductor devices driven by technologies such as 5G and AI[8]. - The company maintains a cautiously optimistic outlook for 2023, driven by increasing demand for silicon and semiconductor devices[15]. - The group anticipates the potential market for automotive end-market applications to grow from approximately USD 2 billion in 2023 to USD 2.9 billion by 2027, with a compound annual growth rate of about 10%[21]. - The group aims to expand its market share in the growing potential market for advanced packaging solutions, with a projected market growth from approximately USD 1.5 billion in 2023 to USD 2.5 billion by 2027, reflecting a compound annual growth rate of about 13.3%[22]. - The company plans to expand its market presence through strategic acquisitions and partnerships, enhancing its competitive edge[165]. Research and Development - The group invested HKD 2.03 billion in R&D in 2022, up from HKD 1.95 billion in 2021, representing a significant portion of annual sales revenue[40]. - The company aims to enhance its market position through ongoing research and development initiatives[156]. - The company plans to launch a new chip embedding solution in 2023 to meet customer demand for high-speed and high-accuracy solutions[27]. - The company has invested in new technology development, focusing on enhancing product offerings and improving operational efficiency[167]. Corporate Governance and Leadership - The company is committed to becoming an ESG leader in the semiconductor industry, aiming for net-zero emissions for Scope 1 and Scope 2 by 2035[14]. - The leadership team has been strengthened with the addition of new members, enhancing the company's strategic vision and potential for sustainable growth[13]. - ASMPT Limited's board includes independent directors with extensive experience in engineering and finance, enhancing corporate governance[60][61][62][63][64][65][66][67][68]. - The board's diverse skill set includes engineering, finance, and operational management, positioning ASMPT Limited for effective oversight and strategic growth[60][61][62][63][64][65][66][67][68]. - The company emphasizes the importance of skills development and industry relations, as demonstrated by its directors' involvement in various educational and training initiatives[64][66]. Financial Position and Assets - Total liabilities decreased from HKD 6,889,309 thousand in 2021 to HKD 5,246,593 thousand in 2022, a reduction of about 23.8%[162]. - The company's equity attributable to shareholders increased to HKD 15,738,506 thousand in 2022 from HKD 15,275,426 thousand in 2021, representing a growth of approximately 3.0%[163]. - Cash and cash equivalents were reported at HKD 4,262,886 thousand in 2022, down from HKD 4,681,090 thousand in 2021, indicating a decrease of about 8.9%[162]. - The company reported a retained earnings of HKD 10,863,480,000, with a total of HKD 14,073,468,000 in total equity[164]. - The company’s bank loans decreased from HKD 2,250,000 thousand in 2021 to HKD 2,000,000 thousand in 2022, a reduction of about 11.1%[163]. Employee and Shareholder Engagement - The company has a commitment to ongoing operational and developmental support through its employee incentive programs[73]. - The employee share incentive plan awarded a total of 2,939,700 shares to selected employees in 2022, with 2,863,200 shares vesting during the year[77]. - The company aims to recognize and reward employees' contributions through the employee share award plan to retain talent and attract suitable personnel for further development[73]. - The company emphasizes the importance of shareholder participation in annual general meetings[135]. - The company provides bilingual communication materials to shareholders[133]. Risk Management and Compliance - The board is responsible for evaluating the nature and extent of risks the group is willing to accept to achieve strategic objectives, ensuring an appropriate risk management system is in place[125]. - The risk management framework is based on a "three lines of defense" model, providing a structured approach to managing strategic, operational, financial, and compliance risks[126]. - The company has established procedures for handling and disclosing inside information in compliance with securities regulations[130]. - The internal audit department operates independently and provides objective assurance and consulting services to improve risk management and internal control effectiveness[120]. Financial Reporting and Audit - The company’s financial statements have been prepared in accordance with the Hong Kong Financial Reporting Standards and reflect a true and fair view of the group’s financial position as of December 31, 2022[144]. - The audit committee held four meetings in 2022 to review financial reports and assess the effectiveness of internal controls and risk management systems[124]. - The company incurred audit fees of HKD 16,554,018 for Deloitte Touche Tohmatsu, with additional fees of HKD 1,683,494 for certification services and HKD 557,673 for non-audit services[125]. - The company has established a whistleblowing procedure for employees to confidentially report concerns regarding misconduct, including fraud and financial violations[121].