You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行》花旗:中芯(00981.HK)與華虹(01347.HK)逐步復甦 評級「中性」
花旗發表報告指出,中芯國際(00981.HK)與華虹半導體(01347.HK)已公布2025年第二季度業績。受惠於國內內包需求推動的高產能利用率(UTR),兩家公司收入與毛利率均超出市場預期。在定價環境改善及產能利用率持續高企的背景下,儘管上半年存在提前拉貨影響,中芯國際與華虹半導體分別預測2025年第三季度收入按季增長6%和11%(按中位數計算),顯示半導體需求逐步復甦,但毛利率復甦可能仍遙遠。其銷售指引及行業觀點與台灣後段製程晶圓代工企業的指引一致:晶圓出貨量按季增長,平均售價趨勢穩定。 里昂認為,後段製程晶圓代工行業需求穩健,但進一步上行需依賴更顯著的毛利率改善。對中芯國際及華虹半導體維持「中性」評級。華虹目標價由39元升至45元;中芯目標價維持53元不變。
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.
uSMART
Wealth Growth Made Easy
Open Account