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《大行報告》瑞信升中芯(00981.HK)評級至「中性」 目標價維持19.6元
阿思達克 12-21 15:27
瑞信發表研究報告,指美國商務部將中芯(00981.HK)列入實體清單,使美國公司向其供應工具、軟件和物料前須先得到商務部批准。

該行指,相關限制似乎較預期有限,目標限制中芯獲取10納米以下製程工具,而14納米製程或以上所使用工具則按個別情況審批。

該行估計,美國的限制或影響來自海外客戶的收入,佔中芯銷售比例約30%,而部分中國客戶或會擔心未來進一步限制或不確定性,將使行業產能維持偏緊。

該行指,公司10納米製程技術發展早已因近期研發主管離職而受挫,目前營業額全為14納米製程或以上。基於股價已到達該行目標,將其評級由「跑輸大市」上調至「中性」,目標價19.6元不變。

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