ASMPT (00522) has surged more than 5% in intraday trading, currently up 5.65% at HKD 87.95, with a trading volume of HKD 77.52 million. Morgan Stanley's research report indicates that mainstream semiconductor demand is recovering and the advanced packaging market continues to grow. The brokerage estimates that ASMPT's order-to-shipment ratio for the third quarter will remain above 1. In terms of performance, ASMPT's median revenue guidance for the third quarter is set at USD 475 million, representing an 11% year-on-year increase. Morgan Stanley anticipates that the company's revenue will align with this guidance but expects a one-time restructuring expense of approximately RMB 360 million during the period, resulting in an estimated net loss of around RMB 69 million. For the fourth quarter, the brokerage predicts revenue could reach RMB 3.646 billion, with a year-on-year growth of 7%, and a quarterly turnaround to a net profit of approximately RMB 126 million, primarily driven by advanced packaging boosting semiconductor solution revenue.