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    To Tsang

    Research Analyst at CLSA

    To Tsang is an Equity Analyst at CLSA, focusing on the technology and telecommunications sectors with a specialization in covering leading Asian technology companies. He actively covers firms such as MediaTek and China Telecom, delivering actionable equity research for institutional investors. While details on his performance track record and quantitative metrics such as success rates or returns generated are not publicly disclosed, his research is recognized by major companies for its insight and independence. Beginning his career as a sector analyst, To Tsang has established himself at CLSA—although previous employers and exact tenure are not confirmed from public records—and holds industry-standard securities credentials expected for professionals at his level.

    To Tsang's questions to ASE Technology (ASX) leadership

    To Tsang's questions to ASE Technology (ASX) leadership • Q2 2024

    Question

    To Tsang of CLSA asked about the revenue contribution from advanced packaging as a percentage of total revenue and sought details on the NTD 250 million incremental revenue figure. He also inquired about any emerging synergies or recovery signs in the industrial and auto segments following the acquisition of Infineon's fabs.

    Answer

    CFO Joseph Tung clarified that leading-edge packaging and test revenue is about 5% of the ATM business this year, up from 2.5% last year, and is expected to double again next year. The NTD 250 million is the incremental revenue target for this year, which the company is on track to exceed. Regarding the auto segment, he noted that while overall sentiment is soft, ASE is gaining market share through automation, with auto expected to represent about 11% of ATM sales this year.

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