集团将毛利率稳健表现归因于成本管控与轻微加价，但表示随着12寸晶圆厂Fab 9项目持续扩产，折旧 费用将攀升。虽然次季部分产品价格有单位数升幅，该行认为仍不足以抵消厂房快速扩张带来的结构性 毛利率压力。该行预计华虹2025年第三季及第四季毛利率均为11.9%，并估计2026年首季、第二季、第 三季及第四季毛利率各为7.4%、7.9%、9.2%及9.2%。 智通财经APP获悉，瑞银发布研报称，华虹半导体(01347)次季销售额按季增5%至5.66亿美元，符合指 引，受晶圆出货量按季增6%推动; 毛利率10.9%，优于指引，主因产能利用率提升，当中电源管理芯片 (PMIC)为最主要增长引擎。基于折旧快速增加，以及产业供过于求限制加价空间，该行将对华虹的毛 利率与股本回报率(ROE)前景维持审慎观点，目标价由20港元升至22.5港元，维持"沽售"评级。 另外，华虹半导体第三季指引亦超出预期，管理层料销售额为6.2亿至6.4亿美元，毛利率10%至12%， 并预期稳健需求将延续至第四季; 该行预计第三及四季销售分别按季增13%及2%，电源管理芯片需求强 劲。 ...

Group 1 - The company plans to distribute a cash dividend of 1.00 yuan (including tax) for every 10 shares, with no bonus shares or capital increase from reserves [29][31][34] - As of the report date, the total share capital is 2,006,135,157 shares, with 62,088,500 shares deducted from the repurchase account, resulting in a total cash dividend distribution of 194,404,665.70 yuan (including tax) [29][30] - The total amount of cash dividends and share repurchases is 1,086,081,974.00 yuan, accounting for 203.83% of the net profit attributable to shareholders of the listed company for the year [29][30] Group 2 - The company primarily engages in 12-inch wafer foundry services and related services, focusing on advanced process research and application [9][10] - The company has achieved mass production of process platforms ranging from 150nm to 55nm, with ongoing development in various applications including display driver chips and logic chips [9][10] - The company has established a strong customer base, including partnerships with leading chip design companies both domestically and internationally [16] Group 3 - The semiconductor industry is experiencing rapid growth, driven by the increasing demand for integrated circuits in various sectors such as AI, 5G, and IoT [14][15] - The company is positioned in the wafer foundry sector, which is capital and technology-intensive, requiring significant investment and expertise [15][16] - The company ranks ninth globally and third among domestic companies in the wafer foundry industry, indicating a strong market position [16] Group 4 - The company reported a revenue of 924,925.23 thousand yuan, a year-on-year increase of 27.69%, and a net profit of 48,219.63 thousand yuan, a year-on-year increase of 304.65% [25] - The net profit attributable to the parent company was 53,284.06 thousand yuan, reflecting a year-on-year increase of 151.78% [25] - The operating cash flow net amount was 276,113.13 thousand yuan, an increase of 292,216.72 thousand yuan compared to the previous year [25]