Core Viewpoint - Hua Hong Semiconductor reported record high sales revenue in Q3, but net profit fell significantly year-on-year, leading to a mixed market reaction [1] Financial Performance - Q3 sales revenue reached $635.2 million, a year-on-year increase of 20.7% and a quarter-on-quarter increase of 12.2% [1] - Net profit attributable to shareholders was $25.7 million, a year-on-year decline of 42.6% but a quarter-on-quarter increase of 223.5% [1] Future Outlook - The company expects Q4 sales revenue to be between $650 million and $660 million [1] - Projected gross margin is expected to be between 12% and 14% [1] Market Reaction - Following the earnings report, the stock opened nearly 4% lower and was down 3.87% at HKD 77, with a trading volume of HKD 16.8351 million [1] - Citigroup upgraded the company's rating to "Buy" and significantly raised the target price by approximately 133% to HKD 105 [1]
华虹半导体绩后低开近4% 三季度净利润同比下滑42.6%低于市场预期