智通财经APP获悉，华虹半导体(01347)早盘涨近8%，高见71.4港元再创新高。截至发稿，涨5.51%，报 69.9港元，成交额16.41亿港元。 高盛近期发布研报称，由于全球成熟制程产能增加及终端市场增长放缓，2023年一季度以来华虹的产品 均价一直呈下行趋势。然而，在2024年三季度至2025年二季度产能利用率超过100%的支撑下，华虹已 开始与客户进行价格谈判，预计将反映在2025年三季度业绩中。尽管短期内均价涨幅不会很大，但该行 认为这是供需改善的积极信号。由于主要终端市场已完成库存调整，预计未来价格将呈现渐进且可持续 的上行趋势。 消息面上，华虹近期宣布与华力微重组，解决IPO承诺的同业竞争事项。华力微五厂主要为客户提供12 英寸集成电路晶圆代工服务，拥有3.8万片/月产能，为通信、消费电子等终端应用领域提供完整技术解 决方案，与公司均拥有65/55nm、40nm制程代工工艺。本次重组将进一步提升公司12英寸晶圆代工产 能，双方的优势工艺平台可实现深度互补，共同构建覆盖更广泛应用场景、更齐全技术规格的晶圆代工 及配套服务 ...

Group 1: Durable Consumer Goods Industry - Companies reported an average of 35% of revenue from exports to China and 7% from exports to the U.S. [2] - Most companies are continuing to shift production overseas, with some accelerating the pace due to increased U.S. customer orders ahead of the tariff suspension period [2] - Visibility on price renegotiation remains low, with expectations that U.S. customers and end consumers will bear a larger share of tariff costs [2][4] Group 2: Automotive Industry - Automotive manufacturers are optimistic about European market sales, with minimal impact from U.S.-China trade tensions [6] - Parts suppliers are still receiving new orders from U.S. factories, and many have successfully passed on tariff costs to customers [7] - Most suppliers are maintaining their current capacity expansion and capital allocation plans, with some considering building overseas factories [7][8] Group 3: Industrial Technology Industry - Orders for capital goods saw a pause in early April but returned to normal levels by the second week [9] - Companies are facing challenges in negotiating prices due to high tariffs, with many contracts structured to pass tariff costs onto customers [10] - Most companies are expanding capacity in regions like India, Thailand, and Mexico, awaiting clearer tariff policies [11] Group 4: Solar Industry - U.S. orders for solar products have slowed due to uncertainties surrounding the Inflation Reduction Act [15] - Companies are struggling with pricing negotiations as demand weakens, and concerns about potential high tariffs could further suppress downstream demand [15] - Some companies are considering reducing U.S. operations if risks and profitability do not align favorably compared to other regions [16][18]