Core Viewpoint - Huahong Semiconductor is acquiring 97.4988% of Huali Micro for a transaction price of 8.268 billion yuan, which aligns with the trend of specialization in the integrated circuit industry in mainland China [1] Financial Analysis - The acquisition is expected to enhance overall profitability, as Huali Micro's production lines may have completed equipment depreciation, potentially outperforming Huahong Semiconductor's existing average profitability [1] - The integration is seen as a fulfillment of the market commitment made during Huahong Semiconductor's A-share listing in 2023 [1] Market Position - Post-integration, the company is anticipated to increase its market share in the global wafer foundry market and enhance its supply capacity in specialized process areas [1] Future Prospects - The fundraising from this acquisition may support the company's efforts in upgrading production lines, expanding capacity, and improving research and development capabilities [1] - The investment bank maintains a "buy" rating for Huahong Semiconductor with a target price of 91 HKD for its H-shares [1]
华虹半导体：82.68亿购华力微近98%股权，目标价91港元