| RESEARCH 9 Aug, 2024 Pentamaster | 01665.HK Recovery is delayed due to macro issues STOCK RATING BUY TARGET PRICE HK$ 0.95 Pentamaster (01665.HK) continued to deliver a sluggish performance in 2024 1H, it recorded MYR 342.1mn revenue in 2024 1H, maintaining flat when compared to last year. The ATE segment plunged YoY 45.1%, offsetting a YoY 1.4x growth in the FAS segment. The gross margin dropped further due to certain R&D expenses and decreased economies of scale in the ATE segment. The disappointing per ...