大行評級|中銀國際:維持華虹半導體“買入”評級 上季業績令市場失望
中銀國際發表研究報告指,華虹半導體上季業績令市場失望,激烈競爭影響短期業績。雖然收入符合預期,惟因應價格持續受壓和高額的研究及啓動成本,令營業虧損再次高達4,900萬美元。儘管終端需求穩健,但由於新產能帶來的高額折舊攤銷,今年首季毛利率指引僅爲9至11%,較市場預期低3個百分點。
不過,中銀國際預期,華虹將受惠於DeepSeek人工智能基礎設施加速潛力、汽車及工業庫存調整週期結束及芯片本地化需求,整體估值水平將持續獲上調。該行維持該股“買入”評級,目標價30.1港元。
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