Core Viewpoint - Hua Hong Semiconductor reported record sales revenue in Q3, reaching $635.2 million, a year-on-year increase of 20.7% and a quarter-on-quarter increase of 12.2% [1] - The company's 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] - The company expects Q4 sales revenue to be between $650 million and $660 million, with a projected gross margin of 12% to 14% [1] Financial Performance - Q3 sales revenue reached $635.2 million, marking a historical high [1] - Year-on-year sales growth was 20.7%, while quarter-on-quarter growth was 12.2% [1] - Net profit for Q3 was $25.7 million, down 42.6% year-on-year but up 223.5% quarter-on-quarter [1] Market Expectations - The company anticipates Q4 sales revenue to be approximately $650 million to $660 million [1] - Projected gross margin for Q4 is expected to be between 12% and 14% [1] Analyst Ratings - Citigroup noted that Hua Hong Semiconductor's Q3 net profit was slightly below market expectations, but the gross margin was better than guidance due to higher capacity utilization and improved average selling prices [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，三季度净利润同比下滑42.6%低于市场预期