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大行評級|花旗:上調中芯國際及華虹半導體目標價 兩公司對近期需求持樂觀態度
格隆匯 02-14 13:48

花旗發表報告指出,中芯國際及華虹半導體均公佈去年第四季業績,由於國內需求回暖,兩間公司收入分別按年增長32%及18%。由於技術遷移持續進行,中芯季內毛利率回升幅度較大,達至22.6%(相對於去年第三季爲20.5%,2023年第四季爲16.4%);至於華虹的毛利率爲11.4%,較去年第三季的12.2%有所回落。該行引述中芯提及,就某些特定製程或應用如高壓28納米及圖像感測器(CIS)需求,他們無法滿足客戶訂單,因此預計今年將持續增加新產能。華虹亦從今年首季起逐步提升其第二座12英寸晶圓廠的產能。

該行稱,中芯與華虹對近期需求持樂觀態度,主要由於客戶因關稅擔憂而提前下單,並受惠於政策支持。中芯期望今年取得高於行業平均水平的增長。相比華虹,該行更爲看好中芯,認爲中芯在技術上更具優勢,對中芯評級“中性”,目標價由30港元上調至47港元;對華虹評級“沽售”,目標價由18港元上調至24港元。

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