HUA HONG SEMI(01347)

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创金合信基金调整旗下持有华虹公司相关基金估值方法
Zhong Guo Jing Ji Wang· 2025-08-25 08:08
中国经济网北京8月25日讯近日,创金合信基金管理有限公司发布关于公司旗下基金估值调整情况的公 告。 公告称,经与基金托管人协商一致,自2025年8月22日起,创金合信基金管理有限公司对旗下证券投资 基金持有的"华虹公司(代码:688347)"采用《中国证券业协会基金估值工作小组关于停牌股票估值的参 考方法》中的"指数收益法"进行估值。 待上述股票复牌且交易体现活跃市场交易特征后,将恢复为采用当日收盘价格进行估值,届时不再另行 公告,敬请投资者予以关注。 ...
银河基金调整旗下持有华虹公司相关基金估值方法
Zhong Guo Jing Ji Wang· 2025-08-25 08:08
待该股票其交易体现了活跃市场交易特征后,将恢复采用当日收盘价格进行估值,届时不再另行公告。 中国经济网北京8月25日讯近日,银河基金管理有限公司发布关于旗下基金所持有股票因长期停牌变更 估值方法的提示性公告。 公告称,为使本基金管理人旗下相关基金的估值公平、合理,基金管理人与基金托管人协商一致,自 2025年8月22日起,对本基金管理人旗下证券投资基金(除ETF外)持有的"华虹公司(代码:688347)"采 用"指数收益法"予以估值。 ...
广发基金调整旗下持有华虹公司相关基金估值方法
Zhong Guo Jing Ji Wang· 2025-08-25 08:08
公告称,自2025年8月22日起,广发基金管理有限公司对旗下基金(ETF除外)持有的"华虹公司"(股票代 码:688347)按指数收益法进行估值调整。同时,对ETF联接基金持有的相关标的ETF,考虑上述股票估 值调整因素对标的ETF份额净值的影响后,按当日调整后的份额净值进行估值。 中国经济网北京8月25日讯近日,广发基金管理有限公司发布关于公司旗下部分基金估值调整情况的公 告。 ...
中邮创业基金调整旗下持有华虹公司相关基金估值方法
Zhong Guo Jing Ji Wang· 2025-08-25 08:08
中国经济网北京8月25日讯近日,中邮创业基金管理股份有限公司发布关于旗下基金持有的"华虹公 司"股票估值调整的公告。 公告称,中邮创业基金管理股份有限公司与基金托管人协商一致,自2025年8月22起,对中邮创业基金 管理股份有限公司旗下证券投资基金持有的"华虹公司"(证券代码:688347),采用"指数收益法"予以估 值。 待上述股票复牌之日起且其交易体现了活跃市场交易特征后,将恢复采用按市场价格进行估值,届时不 再另行公告,敬请投资者予以关注。 ...
招商基金调整旗下持有华虹公司相关基金估值方法

Zhong Guo Jing Ji Wang· 2025-08-25 08:08
公告称,决定自2025年8月22日起,对旗下证券投资基金(除ETF外)所持有的"华虹公司"(股票代码: 688347)股票采用"指数收益法"进行估值;同时,对ETF联接基金持有的标的ETF,在当日份额净值的基 础上考虑上述股票的调整因素进行估值。 待上述股票交易体现了活跃市场交易特征后,将恢复按市价估值方法进行估值,届时不再另行公告。敬 请投资者予以关注。 中国经济网北京8月25日讯近日,招商基金管理有限公司发布关于旗下基金估值变更的公告。 ...
华润元大基金调整旗下持有华虹公司相关基金估值方法
Zhong Guo Jing Ji Wang· 2025-08-25 08:08
经华润元大基金管理有限公司与基金托管人协商一致,自2025年8月22日起,华润元大基金对旗下基金 所持有的股票"华虹公司"(股票代码:688347)按指数收益法进行估值。待上述股票复牌且交易体现活跃 市场交易特征后,将恢复按市价估值方法进行估值,届时不再另行公告。 中国经济网北京8月25日讯今日,华润元大基金发布关于调整旗下基金所持停牌股票估值方法的公告。 ...
华虹半导体(01347):需求景气度持续向好,产能提升驱动未来增长
Orient Securities· 2025-08-25 02:44
Investment Rating - The report maintains a "Buy" rating for the company [4][7]. Core Views - The demand outlook remains positive, with capacity expansion driving future growth [2][12]. - The company is expected to achieve revenue growth, with projected revenues of $2.419 billion in 2025, $2.949 billion in 2026, and $3.390 billion in 2027, reflecting year-on-year growth rates of 21%, 22%, and 15% respectively [6][12]. - The company is actively expanding its production capacity, with the monthly capacity increasing from 391 thousand wafers in Q4 2024 to 447 thousand wafers in Q2 2025 [12]. Financial Forecasts and Investment Recommendations - The forecast for the company's net asset per share for 2025-2027 is $3.66, $3.75, and $3.87 respectively, with a target price of HKD 79.63 based on a comparable company average PB of 2.8 times for 2025 [4][13]. - The company reported a revenue of $566 million in Q2 2025, a year-on-year increase of 18% and a quarter-on-quarter increase of 5% [12]. - The gross margin for Q2 2025 was 10.9%, exceeding the company's guidance of 7%-9% [12].
华虹半导体有限公司关于筹划发行股份及支付现金购买资产并募集配套资金暨关联交易事项的停牌进展公告
Shang Hai Zheng Quan Bao· 2025-08-24 18:21
Group 1 - The company is planning to acquire a controlling stake in Shanghai Huali Microelectronics Co., Ltd. through a combination of issuing shares and cash payment to resolve competition issues related to its IPO commitments [1] - The acquisition targets assets related to the 65/55nm and 40nm processes that are in competition with the company's existing operations [1] - The transaction is expected not to constitute a major asset restructuring and will be classified as a related party transaction without changing the actual controller of the company [1] Group 2 - The company's stock will be suspended from trading starting August 18, 2025, for a period not exceeding 10 trading days due to the uncertainties surrounding the transaction [2] - As of the announcement date, the transaction is still in the planning stage, and no formal agreements have been signed yet [2] - The transaction requires approval from the company's board, shareholders, and regulatory authorities before it can be officially implemented [2]
华虹公司: 关于筹划发行股份及支付现金购买资产并募集配套资金暨关联交易事项的停牌进展公告
Zheng Quan Zhi Xing· 2025-08-24 16:13
Group 1 - The core point of the announcement is that Huahong Semiconductor is planning to acquire a controlling stake in Shanghai Huali Microelectronics to resolve competition issues related to its IPO commitments [1][2] - The acquisition involves the purchase of equity corresponding to the assets of Huahong's fifth factory, which competes in the 65/55nm and 40nm segments [1] - The transaction is expected to be classified as a related party transaction but will not result in a change of the company's actual controller or constitute a restructuring listing [1] Group 2 - The company's stock will be suspended from trading starting August 18, 2025, for a period not exceeding 10 trading days due to the uncertainties surrounding the transaction [2] - As of the announcement date, the transaction is still in the planning stage, and no formal agreements have been signed yet [2] - The transaction requires approval from the company's board, shareholders, and regulatory authorities before it can be officially implemented [2]
国产算力芯片链跟踪报告:DS再燃自主可控热情,关注国产AI算力芯片产业链
CMS· 2025-08-24 11:48
Investment Rating - The report maintains a "Recommendation" rating for the industry, indicating a positive outlook for the sector's fundamentals and expected performance relative to the benchmark index [2][16]. Core Insights - The domestic AI computing chip market is projected to reach nearly $50 billion, with a significant push towards localization and self-sufficiency in chip production, driven by both supply constraints and increasing domestic demand [6][10]. - The semiconductor industry is experiencing robust growth, particularly in segments related to AI chips, with notable performance from domestic companies such as Cambricon, Haiguang Information, and Xinyuan Semiconductor [6][10]. - The report emphasizes the importance of the entire computing power supply chain, including GPU/ASIC, networking chips, storage, and EDA, highlighting the potential for significant investment opportunities in these areas [10][11]. Industry Overview - The semiconductor industry index has seen a substantial increase of 20.6% since early August 2025, outperforming the broader market indices [6]. - The domestic semiconductor market is characterized by a high concentration of market share among a few key players, particularly in the Ethernet switch and PCIe switch segments, indicating a strong oligopolistic structure [6][7]. - The report identifies a growing trend towards the localization of semiconductor manufacturing, with domestic companies increasingly filling gaps left by foreign suppliers [10][11]. Market Segmentation - **GPU/ASIC**: Key players include Haiguang Information, Cambricon, and Xinyuan Semiconductor, which are positioned to benefit from the increasing demand for domestic AI chips [11]. - **Networking Chips**: Companies such as ZTE, Shengke Communication, and Lianqi Semiconductor are highlighted for their roles in the growing networking chip market [11]. - **Storage**: Domestic storage manufacturers are actively expanding their product lines, with companies like Jiangbolong and Demingli making significant strides in enterprise-level storage solutions [10][11]. - **EDA/IP**: The report notes that domestic EDA companies like Huada Jiutian are crucial for supporting the development of advanced semiconductor processes [10][11]. Investment Recommendations - The report suggests focusing on companies within the computing power supply chain, particularly those involved in GPU/ASIC, networking chips, storage, and EDA, as they are expected to benefit from the ongoing shift towards domestic chip production [10][11]. - Specific companies to watch include: - **GPU/ASIC**: Haiguang Information, Cambricon, Xinyuan Semiconductor [11] - **Networking Chips**: ZTE, Shengke Communication, Lianqi Semiconductor [11] - **Storage**: Jiangbolong, Demingli [11] - **EDA/IP**: Huada Jiutian, Gai Lun Electronics [11]