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<Research>BOCI Lifts HUA HONG SEMI's TP to $42.5, Rating Kept Buy
Recommend 4 Positive 7 Negative 5 |
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HUA HONG SEMI (01347.HK) delivered disappointing results for 1Q25, BOCI opined in its report. While the company's revenue was in line with expectations, its GPM fell by 2.1 ppts QoQ, reflecting ongoing pricing challenges and higher depreciation expenses. In addition, HUA HONG SEMI has guided for a 7-9% GPM for 2Q25, which is 4 ppts below market expectations, indicating a more intense competitive environment, though the expansion of the Fab9 project is also a factor behind it. BOCI kept a Buy rating on HUA HONG SEMI and raised its target price from $30.1 to $42.5. AAStocks Financial News |
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