大行評級|花旗:維持中芯國際“中性”評級 目標價上調至16.2港元
花旗發表研報指,中芯國際首季收入按年增長20%至17.5億美元,高於增長指引上限17.1億美元;期內毛利率達到13.7%,亦超出指引區間9%至11%,然而盈利只達到7,200萬美元,遜於市場普遍預期。該行指出,與同業趨勢一致,中芯的利用率(UTR)在國內生產需求增長的推動下有所提升,下半年訂單能見度及人工智能相關需求持續改善,預期公司將繼續擴大產能,並專注於12nm的發展。但花旗亦提醒,中芯的產品平均售價及毛利料持續受壓,將拖累盈利復甦前景,同時較疲弱的現金流狀況與投資回報率,亦對長期研發投入有影響,維持“中性”評級,目標價由15.4港元調升至16.2港元。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.