Lyon: ASMPT (00522) achieves ESG measurable progress rating “outperforms the market”

The Zhitong Finance App learned that Lyon released a research report saying that ASMPT (00522) has made measurable progress on environmental, social and governance priorities, linked sustainable development more closely to long-term competitiveness, maintained a “outperforming the market” rating, with a target price of HK$174.5.

According to the bank, the ASMPT 2025 ESG report shows that the company has linked sustainable development more closely to long-term competitiveness; in terms of valuation, calculated at a price-earnings ratio of 27 times, it is 19 times higher than the historical average.

The bank pointed out that emissions from ASMPT facilities and outsourced electricity fell to 45,200 tons of carbon dioxide equivalent in 2025, which is better than the target of cutting 30% by the end of 2026. Green suppliers provide 22% of electricity, and Malaysia's new solar system is expected to generate more than 1,700 megawatt-hours per year. The company has also begun to address emissions generated by suppliers and customers using their equipment, aiming to reduce 37.5% by 2035; reduce the use of packaging materials by 23% year over year.

On the social side, the company has about 9,000 employees in more than 30 countries, and women occupy 25% of the board seats. In 2025, 78.7% of employees received training, with an average of 20 hours per person; the number of work injuries dropped from 61 to 55, with no fatalities in the past three years. On the governance side, the company updated its Code of Business Conduct and Supplier Code of Conduct, introduced anti-corruption policies and mandatory training, and reported zero product recalls, data breaches and privacy complaints.

The bank believes that ASMPT is benefiting from increased demand for artificial intelligence, and its leading position in TCB will benefit from the increased use of TCB technology in artificial intelligence chip packaging, and mainstream businesses such as SEMI and SMT are also recovering strongly due to artificial intelligence applications.