Core Viewpoint - UBS has raised the earnings per share forecast for Hua Hong Semiconductor (01347) for 2026 by 57% due to continuous improvement in product mix and a more favorable pricing environment, with the target price increased from HKD 80 to HKD 104 while maintaining a "Neutral" rating [1] Group 1: Financial Performance - Hua Hong's sales for Q4 2025 are projected to grow by 4% quarter-on-quarter to approximately USD 660 million, aligning with the company's guidance of USD 650 million to USD 660 million, driven by increased wafer shipments and higher average selling prices [1] - The gross margin for the period is expected to decline by 57 basis points quarter-on-quarter to 13%, which is within the guidance range of 12% to 14%, but below market expectations of 13.8%, primarily due to rising labor costs [1]
瑞银：升华虹半导体(01347)目标价至104港元 上调每股盈利预测