《大行》匯研升協鑫科技(03800.HK)目標價至1.8元 維持「買入」評級
匯豐研究發表報告指,協鑫科技(03800.HK)上半年錄得應佔淨虧損按年同期擴至17.76億元人民幣(下同)。公司次季進一步降低成本,包括研發成本的平均現金成本降至每公斤25.31元,按季下降7%,持續保持行業成本領導地位。期內不含增值稅的平均售價為每公斤29.14元。基於成功的成本控制措施,該行預期集團將成為行業內首間於2025年第三季實現虧轉盈的製造商。
因應產能利用率假設下調及平均售價預期上升,該行下調2025至26年盈利預測,但上調2027年預測。維持「買入」評級,目標價由1.65港元上調至1.8港元。
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