交银国际下调中芯国际目标价6% 维持“买入”

Group 1 - The core viewpoint of the report is that the target price for SMIC has been lowered by 6.25% from HKD 48 to HKD 45 while maintaining a "Buy" rating [1] - The company’s stock price performance in the previous quarter met expectations, indicating potential volatility influenced by market sentiment [1] - The report emphasizes SMIC's leading position in the domestic semiconductor industry, suggesting that the stock price may fluctuate around the revised target price as the market returns to fundamentals [1] Group 2 - The revenue and gross margin forecasts for 2025 have been revised down to USD 8.95 billion and 20.8% respectively, from previous estimates of USD 9.41 billion and 20.9% [1]