Core Viewpoint - Morgan Stanley's research report indicates that Shanghai Fudan is well-prepared for supply chain disruptions caused by being placed on the U.S. trade blacklist, having started local wafer production in 2023 and gradually shifting FPGA production to mainland China [1] Group 1: Company Preparedness - The company has begun wafer production at local fabs since 2023 [1] - FPGA production is being gradually transferred to mainland China [1] Group 2: Demand Impact - The impact on demand is considered limited, as overseas sales accounted for only 6% of total revenue last year [1] Group 3: Market Reaction - There may be short-term selling pressure due to U.S. asset management firms being prohibited from trading Shanghai Fudan's shares [1] - Morgan Stanley has set a target price of HKD 32.8 and maintains an "Overweight" rating on the stock [1]
大行评级｜大摩：上海复旦短期或面临沽售压力，但需求方面影响有限