ASE Technology Holding Co., Ltd. (TWSE shares) (ASE) perpetual futures

ASE Technology Holding Co., Ltd. reported consolidated Q2 2026 revenues of TWD 191.1 billion, up 10% sequentially and 27% year-over-year, with net income of TWD 21.1 billion (up 180% YoY). The ATM business drove results with record revenues of TWD 126.1 billion (up 36% YoY) and operating margin of 15.7%, benefiting from strong LEAP services growth and high utilization rates (80-85% blended). The company is raising full-year 2026 LEAP revenue guidance above the prior USD 3.5 billion target and projecting to double LEAP revenue in 2027. Management emphasized that hardware infrastructure is now the key bottleneck for AI deployment and positioned ASE's pure-play OSAT model as uniquely advantaged. The company raised full-year CapEx guidance by USD 2 billion to USD 10.5 billion to support capacity expansion, with USD 4 billion for facilities and USD 6.5 billion for equipment. ATM gross margin reached 27.3%, with management signaling potential to exceed the structural 30% ceiling in Q4 2026.

ASE Technology Holding Co., Ltd. reported full year 2025 consolidated revenue growth of 12% at the holding company level, with ATM business revenue up 23%, primarily driven by Leading Edge Advanced Packaging (LEAP) services and Testing. LEAP services reached $1.6 billion in 2025, representing 13% of ATM revenue, up from 6% in 2024. The company recorded consolidated net income of $40.7 billion, up 25% year-over-year, with operating margin improving to 7.9%. For 2026, the company expects continued revenue uptrend driven by AI proliferation and general market recovery. Management guides LEAP business to at least double to $3.2 billion, with approximately 75% from packaging and 25% from testing. The ATM business is expected to outperform the logic semiconductor market. The company is aggressively increasing capital expenditures, planning $3.4 billion in machinery and equipment plus $2.1 billion in facilities investment in 2025, with machinery CapEx expected to increase by $1.5 billion in 2026. Management emphasized the Taiwan cluster's manufacturing leadership in advanced packaging and the company's Taiwan Plus One strategy to expand capacity in Penang, Korea, and Philippines to suppor

ASE Technology reported strong third quarter 2025 results with consolidated revenues of TWD 168.6 billion, up 12% sequentially and 5% year-over-year. ATM business achieved record revenues of TWD 100.3 billion, growing 8% sequentially and 17% annually, driven by leading-edge LEAP services and test businesses which grew 11% sequentially and 30% annually. Gross margin improved sequentially to 17.1% despite significant foreign exchange headwinds from NT dollar appreciation (4.6% strengthening), which negatively impacted margins by 1.4 percentage points sequentially. Operating margin expanded to 7.8%, up 1 percentage point sequentially. Management projects Q4 2025 consolidated revenue growth of 1-2% sequentially with gross and operating margin improvement of 70-100 basis points, while ATM is expected to grow 3-5% sequentially with 100-150 basis points gross margin expansion. For full year 2025, ATM revenue is expected to exceed targets with over 20% year-over-year growth in USD terms and on track to reach USD 1.6 billion in leading-edge revenue, with machinery CapEx increasing by several hundred million USD to support continued momentum into 2026.

ASE Technology delivered Q2 2025 consolidated revenues of NTD 150.8 billion (USD basis up 11% YoY), with gross margin of 17% despite significant foreign exchange headwinds. The company's ATM business grew 19% YoY in revenues, driven by strong demand in leading-edge advanced packaging and testing, which now represent over 10% of ATM revenues compared to 6% in full year 2024. Testing business surged 31% YoY in H1 2025. Management projects continued momentum into H2 2025, with Q3 consolidated revenues expected to grow 12-14% QoQ (USD basis) and Q4 expected to show QoQ growth versus Q3. The company is targeting USD 1 billion in incremental leading-edge advanced packaging and testing revenue for 2025 while maintaining general segment mid- to high single digit YoY growth. Heavy capital investments of USD 1.9 billion in machinery and USD 0.9 billion in facility automation during H1 2025 are driving capacity expansion, particularly in Taiwan where leading-edge capacity is at full utilization. Management expects structural gross margins in the mid- to high-20s range by 2026, supported by efficiency improvements, R&D ramp completion, and margin-accretive leading-edge business growth. NT doll

ASE Technology delivered Q1 2025 consolidated revenues of $148 billion NT (down 9% sequentially, up 12% year-over-year) with fully diluted EPS of $1.64. The company reported gross profit of $24.9 billion with gross margin of 16.8%, improved 0.4 percentage points sequentially and 1.1 percentage points year-over-year. ATM business revenues reached $86.7 billion, up 17% annually, with LEAP services accounting for 10% of ATM revenues (versus 6% in FY2024). Test business maintained 18% of ATM revenue with strong growth of 2% in a seasonally down quarter. EMS business revenues were $62.3 billion, up 5% year-over-year despite 17% sequential decline due to seasonality. The company maintains confidence in its LEAP capacity expansion and AI testing market penetration, citing long-term 45% CAGR growth in advanced packaging. Operating margin was 9.6% for ATM, with management attributing margin improvements to favorable foreign exchange (0.97 percentage point positive impact sequentially), higher utilization, and beneficial product mix. For Q2 2025, management guides ATM revenues to grow 9-11% sequentially in NT dollar terms, with gross margins expanding 140-180 basis points quarter-over-quarte