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<Research>HTSC Elevates HUA HONG SEMI (01347.HK) TP to $119, Optimistic About LT Integration Strategy Layout
Recommend 12 Positive 27 Negative 5 |
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Huatai Securities issued a research report elevating its target price for HUA HONG SEMI (01347.HK) from $53 to $119, with rating kept at Buy. The broker also maintained its YoY growth forecasts for the Company's net profit attributable to parent company at 3%/ 48%/ 16% for 2025-2027, reaching US$60 million/ 89 million/ 103 million respectively. Huatai Securities believed that, on the demand side, the rapid maturation of the domestic AI chip ecosystem is reshaping the wafer foundry landscape. The broker estimated that the advanced process foundry demand from Chinese design companies will reach US$9.5 billion in 2024 (with 70% undertaken by TSMC (TSM.US)). Under the integration strategy layout of HUA HONG SEMI, including HUA HONG SEMI, Shanghai Huahong Group's technical capabilities are expected to improve, Huatai Securities added. The broker was optimistic about the output ramp-up of the ninth plant and the incorporation of Huali Microelectronics into the listed company to enhance revenue and profit. After fundraising is completed, a new round of capacity expansion cycle is expected to start. AASTOCKS Financial News Website: www.aastocks.com |
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