Core Viewpoint - Hua Hong Semiconductor (01347) reported a record high sales revenue of approximately $660 million for Q4 2025, reflecting a year-on-year increase of 22.4% and a quarter-on-quarter increase of 3.9% [1] Financial Performance - Sales revenue for the full year 2025 reached approximately $2.402 billion, representing a year-on-year growth of 19.9% [1] - Gross profit for Q4 2025 was $85.464 million, a year-on-year increase of 39.1% but a quarter-on-quarter decrease of 0.5% [1] - The net profit attributable to the parent company was $17.454 million, marking a return to profitability year-on-year, but a quarter-on-quarter decrease of 32.2% [1] - The gross profit for the full year 2025 was approximately $283 million, with a year-on-year increase of 37.9% [1] - The net profit attributable to the parent company for the full year was $54.881 million, a year-on-year decrease of 5.6% [1] - Earnings per share for the full year were $0.032 [1] Operational Highlights - The average capacity utilization rate for the year was 106.1%, positioning the company at a leading level among wafer foundry enterprises [1] - The company’s performance was supported by strong demand driven by AI and related products, as well as a recovery in domestic consumer demand [1] - The company optimized its product mix and implemented cost reduction and efficiency enhancement measures, leading to strong performance across its specialty process platforms, particularly in standalone flash memory and power management platforms [1]

2月13日，华虹公司涨5.66%，截至发稿，报136.83元/股，成交10.65亿元，换手率1.96%，总市值 2377.60亿元。 资料显示，华虹半导体有限公司位于上海张江高科技园区哈雷路288号,香港中环夏悫道12号美国银行中 心2212室，成立日期2005年1月21日，上市日期2023年8月7日，公司主营业务涉及华虹半导体有限公司 是一家主要从事特色工艺晶圆代工的中国投资控股公司。该公司提供包括嵌入式/独立式非易失性存储 器、功率器件、模拟与电源管理、逻辑与射频等多元化特色工艺平台的晶圆代工及配套服务。该公司还 从事提供包括知识产权（IP）设计、测试等配套服务。该公司主要在国内市场从事其业务。主营业务收 入构成为：集成电路晶圆代工94.60%，其他4.78%，租赁收入0.62%。 从基金十大重仓股角度 摩根上证科创板新一代信息技术ETF（588770）基金经理为何智豪、曲蕾蕾。 截至发稿，何智豪累计任职时间5年10天，现任基金资产总规模291.97亿元，任职期间最佳基金回报 72.28%， 任职期间最差基金回报-37.27%。 曲蕾蕾累计任职时间115天，现任基金资产总规模10.63亿元，任职期间最佳基 ...

Group 1 - The core viewpoint of the article highlights that Huahong Semiconductor reported record sales revenue for Q4 2025, reaching approximately $660 million, with a year-on-year increase of 22.4% and a quarter-on-quarter increase of 3.9% [1] - The gross profit for Q4 2025 was $85.464 million, representing a year-on-year growth of 39.1% but a slight quarter-on-quarter decrease of 0.5% [1] - The net profit attributable to the parent company was $17.454 million, marking a return to profitability compared to the previous year, although it decreased by 32.2% quarter-on-quarter [1] Group 2 - For the full year 2025, the company achieved sales revenue of approximately $2.402 billion, reflecting a year-on-year growth of 19.9% [2] - The gross profit for the full year was approximately $283 million, with a year-on-year increase of 37.9% [2] - The net profit attributable to the parent company for the full year was $54.881 million, which is a decrease of 5.6% year-on-year, with earnings per share of $0.032 [1][2] Group 3 - The chairman and president of the company, Dr. Bai Peng, stated that the company maintained a high capacity utilization rate of 106.1% throughout the year, which is leading in the wafer foundry industry [2] - The growth in performance was supported by strong demand driven by AI and related products, as well as a recovery in domestic consumer demand [2] - The company optimized its product mix and improved cost efficiency, with strong performance in its specialty process platforms, particularly in standalone flash memory and power management platforms [2]

Core Viewpoint - Huahong Semiconductor (01347) reported record sales revenue for Q4 2025, driven by strong demand in the global semiconductor market, particularly from AI-related products and a recovery in domestic consumer demand [1] Financial Performance - Sales revenue for Q4 2025 reached approximately $660 million, representing a year-on-year increase of 22.4% and a quarter-on-quarter increase of 3.9% [1] - Gross profit was $85.464 million, showing a year-on-year growth of 39.1% but a slight quarter-on-quarter decrease of 0.5% [1] - The net profit attributable to the parent company was $17.454 million, marking a return to profitability year-on-year, although it decreased by 32.2% quarter-on-quarter [1] Annual Performance - For the full year 2025, the company achieved sales revenue of approximately $2.402 billion, a year-on-year increase of 19.9% [1] - Gross profit for the year was around $283 million, reflecting a year-on-year growth of 37.9% [1] - The net profit attributable to the parent company was $54.881 million, which represents a year-on-year decrease of 5.6% [1] - Earnings per share stood at $0.032 [1] Operational Highlights - The average capacity utilization rate for the year was 106.1%, positioning the company at the forefront of wafer foundry enterprises [1] - The company optimized its product mix and implemented cost reduction measures, leading to strong performance across its specialty process platforms, particularly in standalone flash memory and power management platforms [1]

February 12, 2026 03:21 PM GMT Hua Hong Semiconductor Ltd | Asia Pacific 4Q25 in line; UTR dips amid expansion Reaction to earnings Unchanged In-line Modest revision lower Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research 4Q25 revenue in line: Revenue reached US$660mn (+4% QoQ / +22% YoY), with GM at 13%, matching guidance and MSe. Overall utilization (UTR) was 104% (down 5.7ppts QoQ), reflecting the Fab 9A capacity ...

华虹半导体 20260212 2026-02-12 摘要 华虹半导体 2025 年第四季度营收 6.599 亿美元，同比增长 22.4%，环 比增长 3.9%。毛利率为 13%，同比提升 1.6 个百分点，但环比下降 0.5 个百分点。净亏损同比大幅收窄，但环比有所扩大。中国区营收占 比超八成，同比增长 19.6%，北美区营收增长显著。 公司各技术平台表现分化，模拟与电源管理 IC 业务营收同比大幅增长 40%，嵌入式非易失性存储器（NVM）业务同比增长 31.3%。独立非 易失性存储器业务收入同比增长 22.9%。分立器件业务收入同比增长 2.4%。逻辑与射频业务收入同比增长 19%。 华虹持续推进产能扩张，无锡第二条 12 英寸生产线一期超预期完成， 上海 12 英寸制造基地及 55 号项目按计划推进。并购华谊公司获得 55 号项目，新增约 4 万片产能，优化产能分配，提高 TD 业务效率，降低 成本，加速公司长期发展。 部分晶圆代工厂退出 8 英寸业务或出售 12 英寸晶圆厂，可能影响市场 供需。逻辑芯片产能转向存储领域，减少逻辑芯片供应，对专注于逻辑 芯片代工的华虹半导体是利好。AI 驱动的半导体市场 ...

Industry Overview - The Shenzhen Municipal Bureau of Industry and Information Technology has issued the "Artificial Intelligence + Advanced Manufacturing Action Plan (2026-2027)", aiming to promote the application of AI technology in key areas of the semiconductor industry, enhancing efficiency in chip design and software coding [1] - The plan focuses on developing high-performance, energy-efficient SoC chips for various AI terminal demands, including AI smartphones and intelligent robots, and supports the domestic replacement of automotive-grade AI chips for the new energy vehicle market [1] Company Updates - SMIC announced that its memory and BCD products are in high demand, leading to price increases [2] - Hua Hong Semiconductor reported a record high sales revenue of $659.9 million in Q4, a year-on-year increase of 22.4% and a quarter-on-quarter increase of 3.9%. The gross margin was 13.0%, up 1.6 percentage points year-on-year but down 0.5 percentage points quarter-on-quarter. The company expects Q1 2026 sales revenue to be between $650 million and $660 million, with a gross margin of 13% to 15% [2] - Aerospace Zhizhuang stated that it has provided chips for the GW-A2 constellation but is unclear about the specific launch mission's usage. The company cannot estimate the impact of the launch on its Q1 2026 operations [2] - Debon Securities noted that the semiconductor upstream sector showed overall growth in 2025, with semiconductor equipment performing better than materials and components, and packaging and testing outperforming wafer foundry [2] Related ETFs - The Sci-Tech Semiconductor ETF (588170) tracks the Shanghai Stock Exchange Sci-Tech Board Semiconductor Materials and Equipment Index, focusing on semiconductor equipment (60%) and materials (25%) [3] - The Semiconductor Equipment ETF (Hua Xia, 562590) also emphasizes semiconductor equipment (63%) and materials (24%), benefiting from the demand surge driven by the AI revolution and advancements in lithography technology [3]

【中泰电子丨华虹半导体】Q4营收再创新高，Q1指引乐观 ——25Q4营收6.6亿美元，同比+22.4%，环比+3.9%，创历史新高，公司指引6.5-6.6亿美元，达指引上限；归母净 利0.17亿美元，同比-169.3%，环比-32.2%；毛利率13%，同比+1.6pct，环比-0.5pct，公司指引12%-14%，符合指 引。 ——25Q4稼动率103.8%，同比+0.6pct，环比-5.7 ——25Q4资本开支6.3亿美元，环比+141.9%；其中5.6亿用于12寸产线，0.7亿用于8寸产线。 ——26Q1营收指引6.5-6.6亿美元，中值同比+21.1%，环比-0.8%；毛利率指引13-15%，中值同比+4.8pct，环比 +1pct；Q1是传统淡季，公司指引超市场预期。 【中泰电子丨华虹半导体】Q4营收再创新高，Q1指引乐观 ——25Q4营收6.6亿美元，同比+22.4%，环比+3.9%，创历史新高，公司指引6.5-6.6亿美元，达指引上限；归母净 利0.17亿美元，同比-169.3%，环比-32.2%；毛利率13%，同比+1.6pct，环比-0.5pct，公司指引12%-14%，符合指 引。 ——25 ...

Key Points - Insta360 held its annual meeting where it awarded five sets of properties and several cars to employees, all of whom were born in the 1990s, emphasizing the importance of material incentives alongside recognition [5][6] - The company reported that 2025 was its highest revenue year, with a significant increase in R&D investment, surpassing the total of the previous three years [6] - DeepSeek's recent update has faced backlash from users who feel the model has become less engaging, despite a significant increase in context window capacity [11][12] - AWS has completed layoffs in its Greater China region, affecting approximately 150 employees, primarily in second-tier departments [14][15] - Zhao Ming, former CEO of Honor, has joined Qianli Technology, focusing on AI business models [16] - BMW announced a global recall of multiple models due to a defect in the starter motor that poses a fire risk [56] - Xiaomi's YU7 became the best-selling car in China for January 2026, with a total of 37,869 units sold, significantly outpacing competitors [35][36] - Chery employees expressed dissatisfaction with the company's strict leave policies during the Spring Festival, which limited vacation days [23] - Great Wall Motors announced that its average year-end bonus for 2025 would exceed 50,000 yuan per employee, with a total bonus pool potentially exceeding 42.45 billion yuan [25][26] - Huawei's new vehicle, the Zun Jie S800, will appear on the CCTV Spring Festival Gala, highlighting its market presence [45]

Core Viewpoint - Huahong Company reported record sales revenue of $659.9 million in Q4 2025, marking a 22.4% year-over-year increase and a 3.9% quarter-over-quarter increase, with a gross margin of 13% [1][2] Financial Performance - Q4 2025 revenue reached $659.9 million, a historical high, with a gross margin of 13%, up 1.6 percentage points year-over-year but down 0.5 percentage points quarter-over-quarter [1] - The net profit attributable to shareholders was $17.5 million, a significant recovery from a loss of $25.2 million in the same quarter last year and a decrease from a profit of $25.7 million in the previous quarter [1] - For the full year 2025, total revenue was $2.4021 billion, reflecting a 19.9% year-over-year growth, with an annual gross margin of 11.8%, up 1.6 percentage points [1] Revenue Breakdown - In Q4 2025, embedded non-volatile memory sales reached $180.2 million, up 31.3% year-over-year; independent non-volatile memory sales were $56.6 million, up 22.9%; logic and RF products generated $80.4 million, up 19.2%; and analog and power management sales grew by 40.7% to $173.8 million [2] - Revenue from the Chinese market accounted for $539.3 million, or 81.8% of total sales, with a year-over-year growth of 19.6%; North American sales reached $72.8 million, up 51.3%, increasing its share from 8.9% to 11% [2] Capacity and Production - The company maintained a high capacity utilization rate of 106.1% for the year, with Q4 2025 utilization at 103.8% [3] - In Q4 2025, the shipment volume of 8-inch equivalent wafers was 1.448 million, a 19.4% increase year-over-year [3] Capital Expenditure and Strategic Moves - Capital expenditure for Q4 2025 was $633.5 million, with ongoing progress in the acquisition of a 12-inch manufacturing base in Shanghai [4] - The acquisition of a 97.5% stake in Huahong Micro has been approved, aiming for synergies in technology and operational efficiency [4] Future Guidance - For Q1 2026, the company expects sales revenue to be between $650 million and $660 million, with a gross margin forecast of 13% to 15% [5]