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.
研報掘金|中金:上調華虹半導體目標價至27.5港元 維持“跑贏行業”評級
格隆匯 02-14 11:09

中金髮表報告指,華虹公佈2024年第四季度業績,港股口徑實現銷售收入5.392億美元,按年增長18.4%,按季增長2.4%,符合此前5.3至5.4億美元指引區間,符合市場及該行預期;毛利率11.4%,符合此前11%至13%指引區間,符合市場及該行預期;虧損2,520萬美元,低於市場及該行預期,主要因外幣匯兌損失,季內其他淨損失4050萬美元。公司預計今年首季將實現5.3至5.5億美元營收,新產能開出將使得今季傳統淡季不淡。

該行認爲今年依靠公司新產能開出、在地化生產戰略、國家刺激消費政策,華虹有望通過晶圓出貨量進一步提升驅動營收端增長,潛在的價格競爭、新增的折舊攤銷可能對盈利能力造成負面影響,但通過儘可能提升產能利用率以及設備材料零部件方面的降本增效,公司將中和其一部分影響。

中金預計公司2025和2026年營收按年增長 13.6%/10%至22.76/25.04億美元,淨利潤按年增長158.1%/3.1%至1.50/1.55億美元。該行上調公司目標價 22.8%至27.5港元,維持“跑贏行業”評級不變。

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 this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.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.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.
uSMART
Wealth Growth Made Easy
Open Account