《大行》匯豐升中芯(00981.HK)評級至「買入」 上調目標價至64元
匯豐環球研究發表報告指,在中美持續緊張局勢下,半導體領域的中芯國際(00981.HK)將脫穎而出,並將繼續受益於本土化趨勢帶來的國內需求。雖然中芯國際因特定設備良率問題導致短期平均售價(ASP)面臨挑戰,但匯豐仍預期該公司表現優於市場。
報告指出,鑒於更廣泛的地緣政治條件下持續強化中國自給自足的推動力,匯豐認為中芯國際的本土化需求趨勢帶來更多上行空間,且中芯國際在2024年僅佔中國晶圓代工市場總規模的25%,看到其市場份額有進一步提升的潛力。
匯豐看好中芯國際的國內需求增加帶來更加的產品組合及更高的產能利用率,將2025和2026財年每股盈利預測分別上調約5%及21%。又將將港股目標價由35港元升至64港元;中芯(688981.SH)A股目標價從92元人民幣升至148元(分別約有46%、73%上行空間),目標市淨率分別由1.6倍、4.5倍提升至2.9倍、7.2倍。匯豐認為,中芯國際依然受益於本土化及先進製程的進一步擴張,並因該公司具備定價能力及政府支持成為匯豐首選。因此,匯豐將中芯港股和A股評級分別由「減持」及「持有」一並上調至「買入」。
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.