华虹公司8月14日大宗交易平台出现一笔成交，成交量35.00万股，成交金额2430.40万元，大宗交易成交 价为69.44元，相对今日收盘价折价1.50%。该笔交易的买方营业部为机构专用，卖方营业部为中国中金 财富证券有限公司上海徐汇区淮海中路证券营业部。 进一步统计，近3个月内该股累计发生3笔大宗交易，合计成交金额为3351.78万元。 证券时报·数据宝统计显示，华虹公司今日收盘价为70.50元，上涨3.62%，日换手率为7.10%，成交额为 20.36亿元，全天主力资金净流入1279.40万元，近5日该股累计上涨5.54%，近5日资金合计净流出 6412.00万元。 两融数据显示，该股最新融资余额为13.88亿元，近5日增加7803.27万元，增幅为5.96%。 机构评级来看，近5日共有4家机构给予该股评级，预计目标价最高的是浦银国际证券，8月11日浦银国 际证券发布的研报预计公司目标价为77.90元。（数据宝） 8月14日华虹公司大宗交易一览 | 成交量 | 成交金额 | 成交价格 | 相对当日收盘折 | 买方营 | 卖方营业部 | | --- | --- | --- | --- | --- | --- ...

8月14日，华虹公司大宗交易成交35万股，成交额2430.4万元，占当日总成交额的1.18%，成交价69.44元，较市场收盘价70.5元折价1.5%。 | | 华虹公司 | 688347 | 69.44 2430.4 | રે રેતા પર તાલુકામાં આવેલું એક ગામનાં લોકોનો મુખ્ય વ્યવસાય ખેતી, ખેતમજૂરી તેમ જ પશુપા | 机构专用 | 中国中金财富证券 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 有限公司上海徐汇 | | 交易日期 2025-08-14 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( * ) 买入营业部 | | | 卖出营业部 区淮海中路证券营 | ...

智通财经8月14日讯(编辑 童古 汤赞淇)以下为各家机构对港股的最新评级和目标价： 中金公司：维持腾讯控股跑赢行业评级 目标价700港元 中金公司就腾讯控股(00700.HK)发布研报称，公司2Q25收入同比增长14.5%至1845亿元，Non-IFRS净利 润同比增长10%至630.5亿元。AI在广告、游戏及云服务中加速应用，视频号广告收入同比增长50%，海 外游戏收入同比增长35%。公司资本开支主要用于AI基础设施建设，未来AI提效空间广阔。上调目标价 至700港元，维持"跑赢行业"评级。 国信证券：维持华虹半导体优于大市评级 国信证券就华虹半导体(01347.HK)发布研报称，看好公司短期价格修复、稼动率满载，中长期特色工艺 代工拥有全球头部客户及领先工艺的龙头竞争力。预计25-27年净利润0.90/1.52/2.02亿美元，当前股价 对应25-27年PB1.56/1.52/1.48为倍，维持"优于大市"评级。 长江证券：维持香港交易所买入评级 长江证券就香港交易所(00388.HK)发布研报称，截止7月底，公司PE为38.24x，处于2016年以来历史 58%的分位，具备一定的配置性价比，预计伴随互联 ...

机构：中金公司 研究员：彭虎/胡炯益/张怡康/贾顺鹤 2Q25 毛利率超出我们预期 华虹半导体发布港股口径25 年二季报：单季度营收5.661 亿美元，YoY+18.3%，QoQ+4.6%，符合此前 指引的5.5~5.7 亿美元区间；毛利率10.9%，YoY+0.4ppt，QoQ+1.7ppt，超出此前给出的7%~9%指引区 间，净利润-0.33 亿美元，归母净利润800 万美元，YoY+19.2%，QoQ+112.1%。整体略超我们预期，我 们认为原因为产能利用率和晶圆ASP 超出我们预期。 发展趋势 2Q25 公司产能利用率108.3%，QoQ+5.6ppt，较上一季度显著提升；同时，二季度末总产能达到44.7 万 片/月（折合8 英寸晶圆），反映fab9 加速扩产；晶圆出货量130.5 万片（折合8 英寸晶圆）， QoQ+6.0%。根据我们的量价拆分测算，公司8 英寸产线和12 英寸产线晶圆价格已经止跌。 除独立式非易失性存储器，公司其余四大工艺平台2Q25 收入均呈环比增长态势，其中模拟与电源管理 平台增速最快，单季度收入QoQ+18%至1.612亿美元，占收入比例达到28.5%，已经是公司第二大工艺 ...

机构：国海证券 2025 年8 月7 日，华虹半导体发布2025 年Q2 财报：2025Q2，公司实现收入5.66 亿美元（QoQ+4.6%， YoY+18.3%）；归母净利润0.08 亿美元（QoQ+112.1%，YoY+19.2%）；晶圆季出货量（等效八英寸晶 圆）130.5 万片（ QoQ+6.0% ， YoY+18.0% ） ； 产能利用率108.3%（QoQ+5.6pct，YoY+10.4pct）。 投资要点: 2025Q2 业绩：新厂投产折旧压力下，公司毛利率仍实现优化2025Q2 ， 华虹半导体实现收入5.66 亿美 元（ QoQ+4.6% ，YoY+18.3%），指引5.5-5.7 亿美元，彭博一致预期为5.63 亿美元，增长主要得益于 晶圆出货量上升。毛利率10.9%（QoQ+1.7pct，YoY+0.4pct），指引为7%-9%，彭博一致预期为8.3%， 年增主要得益于产能利用率提升及ASP 上涨，部分被折旧成本上升所抵消；季增主要由于产能利用率 提升。2025Q2，公司归母净利润0.08 亿美元（QoQ+112.1%，YoY+19.2%），环比增长主要由于毛利率 优化、外汇损失收敛、财务 ...

中金发表研究报告指，华虹半导体次季营收5.66亿美元，按年升18.3%，符合此前指引的5.5至5.7亿美元 区间；毛利率10.9%，按年升0.4个百分点，超出此前指引7%至9%；归母净利润800万美元，按年升 19.2%，整体略超该行预期，因产能利用率和晶圆平均售价超预期。 考虑到公司出货量及价格均好过此前预期，该行上调公司2025年收入预测6%至24.04亿美元，即按年增 长20%，但考虑到折旧因素，基本维持归母净利润预测1.49亿美元不变；由于量价齐升，上调2026年收 入预测12.1%至27.98亿美元，即按年增长16.4%，上调2026年归母净利润预测10.5%至1.7亿美元。该行 上调目标价39%至50港元，维持"跑赢行业"评级。 ...

Core Viewpoint - The company reported a strong performance in 2Q25, exceeding previous guidance for both revenue and gross margin, with expectations for steady growth in 3Q25 [4][5]. Financial Performance - In 2Q25, the company achieved sales revenue of $566.1 million, representing a year-over-year increase of 18.3% and a quarter-over-quarter increase of 4.6%. The gross margin was 10.9%, up 0.4 percentage points year-over-year and 1.7 percentage points quarter-over-quarter, surpassing the prior guidance of $550-570 million in revenue and 7%-9% gross margin [5]. - For 3Q25, the company anticipates sales revenue of approximately $620-640 million and a gross margin of around 10%-12% [5]. Capacity Utilization - As of the end of 2Q25, the company's monthly capacity, equivalent to 8-inch wafers, was 447,000 pieces, reflecting an 18.0% year-over-year increase and an 8.2% quarter-over-quarter increase. The capacity utilization rate was 108.3%, up 10.4 percentage points year-over-year and 5.7 percentage points quarter-over-quarter, indicating a stable upward trend [6]. - The company has maintained full capacity utilization for multiple quarters, with stable release of 12-inch capacity contributing to revenue growth [6]. Market Demand - By end-market segmentation, revenue from consumer electronics, communications, and computers increased by 2.7%, 9.8%, and 2.8% quarter-over-quarter, respectively. Revenue from industrial and automotive sectors rose by 7.7% [7]. - Demand for analog and power management products continued to grow, with a year-over-year increase of 59.3% and a quarter-over-quarter increase of 17.9%. The recovery in power device demand also showed a year-over-year growth of 9.4% and a quarter-over-quarter growth of 2.4% [7]. Capital Expenditure - The company's capital expenditure in 2Q25 was $407.7 million, with $376 million allocated to Huahong Manufacturing, $17.6 million to Huahong Wuxi, and $13.7 million to Huahong 8-inch [8]. - The company plans for Fab 9 to reach full capacity by the first quarter of 2026, with a corresponding capacity of 60,000 pieces per month. The ramp-up of Fab 9's capacity is expected to accelerate, contributing to stable growth [8].

Core Viewpoint - Huahong Semiconductor reported strong financial performance for Q2 2025, with significant year-on-year and quarter-on-quarter growth in revenue, gross margin, and net profit, indicating effective cost management and operational efficiency improvements in a fluctuating global market [2][3][4]. Financial Performance - The company achieved sales revenue of $566.1 million in Q2 2025, representing an 18.3% increase year-on-year and a 4.6% increase quarter-on-quarter [2][3]. - Gross margin improved to 10.9%, up 0.4 percentage points year-on-year and 1.7 percentage points quarter-on-quarter [2][3]. - Net profit reached $8 million, a 19.2% increase year-on-year and a substantial 112.1% increase quarter-on-quarter [2][3]. Revenue Breakdown - Revenue from semiconductor wafer sales was the primary contributor, with 8-inch and 12-inch wafer sales generating $232.3 million and $333.8 million, respectively [4][6]. - By product category, wafer sales accounted for 95.6% of total revenue, while other products contributed 4.4% [5][6]. Regional Sales Analysis - Sales from China amounted to $469.7 million, representing 83.0% of total revenue and a 21.8% year-on-year increase [7]. - North American sales were $53 million, up 13.2% year-on-year, while sales from other Asian regions and Europe saw slight declines [7]. Capacity and Utilization - The company reported a capacity utilization rate of 108.3%, the highest in recent quarters, with total capacity equivalent to 447,000 8-inch wafers [8]. - The number of wafers shipped reached 1.305 million, reflecting an 18.0% year-on-year increase and a 6.0% quarter-on-quarter increase [8]. Product Technology and Market Segments - Revenue from embedded non-volatile memory reached $141.2 million, a 2.9% increase year-on-year, while power devices generated $166.7 million, up 9.4% [9][10]. - Consumer electronics remained the largest revenue source, contributing $357.4 million, or 63.1% of total revenue, with a year-on-year growth of 19.8% [11].

Group 1 - Semiconductor stocks showed significant gains in early trading, with Hongguang Semiconductor rising by 7.14% to HKD 0.6, Huahong Semiconductor up by 4.78% to HKD 49.58, Jingmen Semiconductor increasing by 3.16% to HKD 0.49, and SMIC rising by 2.88% to HKD 53.55 [1] - The National Internet Information Office of China has raised concerns regarding security risks associated with backdoor vulnerabilities in NVIDIA's computing chips, following reports of the U.S. embedding tracking devices in AI-related chips to monitor their transfer to China [1] - According to a report from Founder Securities, there is a strong outlook for two key directions in the semiconductor industry: self-controllability and edge AI. The report emphasizes that self-controllability is the main focus, with the domestic supply chain strengthening across AI computing, manufacturing, and packaging [1] Group 2 - Despite the current state of domestic AI computing chips being in a catch-up phase, the continuous iteration of products and the gradual enhancement of supply chain capabilities are expected to lead to an increase in market share [1]

港股市场半导体股集体上涨，其中，康特隆涨超8%，脑洞科技、宏光半导体涨超5%，华虹半导体、顺 泰控股涨超2%，贝克微、中芯国际、晶门半导体涨超1%。 本文源自：金融界AI电报 ...