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01347
HUA HONG SEMI
HKD
79.350-4.300
(-5.14%)
1D
AI Analysis for 01347
AI Analysis
High
83.650
Open
83.650
VWAP
80.18
Vol
16.80M
Mkt Cap
173.07B
Low
78.400
Amount
1.35B
EV/EBITDA(TTM)
30.96
Total Shares
1.74B
EV
146.13B
EV/OCF(TTM)
28.85
P/S(TTM)
10.74
Hua Hong Semiconductor Ltd is an investment holding company primarily engaged in the manufacture and sale of semiconductor products. The Company’s main business is engaged in the provision of wafer foundry and supporting services for diversified specialty process platforms including embedded/standalone non-volatile memory, power discrete, analog and power management, logic and radio frequency (RF) and others. The Company’s products end markets include consumer electronics, industrial and automotive electronics, communications products and computers. The Company is also engaged in the real estate development and leasing business. The Company conducts its business in domestic and overseas markets.
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News
4.5
03-13aastocksHKD8B Net Inflow to TRACKER FUND from Southbound Trading
Southbound Trading Inflows: TRACKER FUND (02800.HK) saw significant net inflows of HKD8 billion, with HKD5.9 billion from Shanghai-Hong Kong Stock Connect and HKD2.1 billion from Shenzhen-Hong Kong Stock Connect.
Short Selling Activity: The short selling for TRACKER FUND reached $9.87 billion, with a ratio of 48.692%, while other notable stocks like HSCEI ETF and TENCENT also experienced substantial short selling.
Net Outflows: BABA-W (09988.HK) recorded the highest net outflow of HKD287.3 million, while HUA HONG SEMI (01347.HK) had a net outflow of HKD242.4 million.
Overall Trading Summary: The total Southbound Trading net outflow was HKD0, accounting for 47.17% of the total transaction amount of HKD116.3 billion.
4.5
03-11aastocksHSI Starts 152 Points Up; TENCENT Continues Its Rally; NIO-SW Soars 15%
Market Performance: The HSI opened 0.6% higher at 26,112, with notable gains in tech stocks like TENCENT and BIDU-SW, while some stocks like KNOWLEDGE ATLAS and MINIMAX-WP experienced declines.
Export Growth: China's exports for January-February increased by 21.8%, significantly surpassing the previous value of 6.6% and the forecast of 7.1%.
Tech Stock Movements: Various tech stocks, including BABA-W and KUAISHOU-W, saw increases of 1.3-1.5%, while others like MEITUAN-W and NTES-S faced declines.
Automotive Sector Highlights: NIO-SW surged 15% after reporting a profit, while other automotive stocks like BYD COMPANY and LI AUTO-W showed minor increases.
4.5
03-10aastocksHSI Rises by 551 Points; TENCENT Jumps Over 7%; MINIMAX-WP Soars 22%
Market Performance: The HSI rose by 2.2% to close at 25,959, with significant gains in tech stocks, including MINIMAX-WP and KNOWLEDGE ATLAS, which surged 22.4% and 12.9% respectively.
Short Selling Trends: Notable short selling activity was observed in various stocks, with TENCENT and BABA-W experiencing high short selling ratios of 15.2% and 20.2%, respectively.
Chip and Battery Stocks: Chip stocks like ILUVATAR COREX and BIREN TECH saw substantial increases of 30.2% and 9.3%, while battery stock CATL rallied 9.3% following a strong profit forecast.
Carmakers' Performance: Carmakers BYD and XIAOMI experienced slight declines of 1.1% and 0.2%, contrasting with the overall positive market trend.
4.5
03-10aastocksHSI Rises 396 Points at Midday; TENCENT Increases by 5.7%; CATL Surges Over 8% After Earnings Report
US Market Performance: The DJIA rose by 239 points (0.5%) and the Nasdaq increased by 1.4% following President Trump's announcement regarding the Iran war's imminent end.
Hong Kong Stock Market: The HSI opened 331 points higher and closed up 396 points (1.6%), with significant gains in tech stocks like MINIMAX-WP and KNOWLEDGE ATLAS.
Tech Stock Trends: AI stocks continued to surge, with MINIMAX-WP and KNOWLEDGE ATLAS seeing increases of 9.5% and 6.9%, respectively, while TENCENT also experienced a notable rise.
Sector Performance: Pharmaceuticals and chip stocks showed strong performance, with several companies like 3SBIO and ILUVATAR COREX posting significant gains, while some automakers faced declines.
4.5
03-10aastocksHSI Rises 331 Points Amid Ongoing OpenClaw Frenzy; KNOWLEDGE ATLAS Jumps 13%
Hong Kong Stock Market Performance: Hong Kong stocks opened higher, with the HSI up 1.3% at 25,740, the HSCEI up 1.1% at 8,676, and the HSTECH up 2% at 5,040.
Oil Price Decline: Oil prices fell significantly, impacting major producers like PETROCHINA and CNOOC, which saw declines of 2.4% and 2.5%, respectively.
Commodities Stocks Rebound: Commodities stocks experienced a rebound, with notable gains from SD GOLD, ZIJIN MINING, JIANGXI COPPER, and MMG, all showing increases between 2.1% and 4.1%.
Financial Sector Gains: The financial sector saw positive movement, with HSBC, HKEX, AIA, and Standard Chartered all reporting increases, particularly HSBC which rose 3.5%.
Money Flow
Over the past 66 trading days, overall net money flow is -197.91M, with retail investors contributing -95.13M and major investors adding -34.46M.
Net Buy $ Volume
Net Sell $ Volume
CMBI
Hold
maintain
$68 -> $80
2026-02-20
Reason
The analyst rating for HUA HONG SEMI (01347.HK) was maintained as a "Hold" due to a combination of factors. While the company's product mix and scale are improving, and it reported strong revenue growth driven by high utilization and robust shipments, the valuation appears to be high. Additionally, the net profit for 4Q25 decreased significantly due to rising labor costs, despite meeting revenue expectations. The target price was raised from HKD68 to HKD80, reflecting a positive outlook, but the overall rating remains cautious given the high valuation and profit decline.
CMBI
Hold
Price Target
$68 -> $80
2026-02-20
maintain
The analyst rating for HUA HONG SEMI (01347.HK) was maintained as a "Hold" due to a combination of factors. While the company's product mix and scale are improving, and it reported strong revenue growth driven by high utilization and robust shipments, the valuation appears to be high. Additionally, the net profit for 4Q25 decreased significantly due to rising labor costs, despite meeting revenue expectations. The target price was raised from HKD68 to HKD80, reflecting a positive outlook, but the overall rating remains cautious given the high valuation and profit decline.
DBS Group Research
DBS Group Research
Hold
maintain
$75 -> $88
2026-02-20
Reason
The analyst rating for HUA HONG SEMI was maintained at "Hold" by DBS Group Research due to several factors. The company reported a significant revenue increase of 22.4% year-over-year, reaching a new high of US$660 million, driven by a recovery in domestic demand and rising demand for AI-related applications. Additionally, the broker anticipates that stricter US export controls will accelerate the localization process in China's semiconductor industry, leading to an increase in China's self-sufficiency ratio in integrated circuits. This is expected to allow HUA HONG SEMI to capture more demand for 28nm and above products. The target price was raised from $75 to $88, reflecting optimism about the sector's sentiment improvement due to these developments.
DBS Group Research
Hold
Price Target
$75 -> $88
2026-02-20
maintain
The analyst rating for HUA HONG SEMI was maintained at "Hold" by DBS Group Research due to several factors. The company reported a significant revenue increase of 22.4% year-over-year, reaching a new high of US$660 million, driven by a recovery in domestic demand and rising demand for AI-related applications. Additionally, the broker anticipates that stricter US export controls will accelerate the localization process in China's semiconductor industry, leading to an increase in China's self-sufficiency ratio in integrated circuits. This is expected to allow HUA HONG SEMI to capture more demand for 28nm and above products. The target price was raised from $75 to $88, reflecting optimism about the sector's sentiment improvement due to these developments.
UBS
Neutral
maintain
$80 -> $104
2026-02-16
Reason
The analyst rating for HUA HONG SEMI was kept at Neutral due to a combination of factors. While the company's 4Q25 sales increased by 4% QoQ and reached the high end of guidance, the gross margin fell slightly below market consensus, primarily due to higher labor costs. However, the broker raised its 2026 EPS forecast by 57%, reflecting improvements in product mix and a more favorable pricing environment. This led to an elevation of the target price from $80 to $104, but the overall rating remained Neutral, likely indicating a cautious outlook despite positive sales growth and improved earnings forecasts.
UBS
Neutral
Price Target
$80 -> $104
2026-02-16
maintain
The analyst rating for HUA HONG SEMI was kept at Neutral due to a combination of factors. While the company's 4Q25 sales increased by 4% QoQ and reached the high end of guidance, the gross margin fell slightly below market consensus, primarily due to higher labor costs. However, the broker raised its 2026 EPS forecast by 57%, reflecting improvements in product mix and a more favorable pricing environment. This led to an elevation of the target price from $80 to $104, but the overall rating remained Neutral, likely indicating a cautious outlook despite positive sales growth and improved earnings forecasts.
Huatai Securities
Buy
maintain
$120 -> $121
2026-02-16
Reason
The analyst rating for HUA HONG SEMI (01347.HK) is based on the company's entry into a fast-growth phase driven by price increases and capacity expansion. Additionally, the company's sales revenue for 4Q25 grew by 22.4% year-over-year, reaching USD659.9 million, which was at the upper end of its previous guidance. As a result, Huatai Securities raised its target price from HKD120 to HKD121 while maintaining a Buy rating.
Huatai Securities
Buy
Price Target
$120 -> $121
2026-02-16
maintain
The analyst rating for HUA HONG SEMI (01347.HK) is based on the company's entry into a fast-growth phase driven by price increases and capacity expansion. Additionally, the company's sales revenue for 4Q25 grew by 22.4% year-over-year, reaching USD659.9 million, which was at the upper end of its previous guidance. As a result, Huatai Securities raised its target price from HKD120 to HKD121 while maintaining a Buy rating.
CLSA
CLSA
maintain
2026-02-16
Reason
The analyst rating from CLSA for HUA HONG SEMI (01347.HK) is based on several key factors:
1. In-Line Results and Guidance: The company's 4Q25 results and 1Q26 guidance were broadly in line with expectations, indicating stable performance.
2. Growth in AI-Related Products: CLSA anticipates continued brisk growth in AI application-related products, such as PMIC (Power Management Integrated Circuits) and MCU (Microcontroller Units), which is expected to offset sluggishness in the consumer electronics sector due to memory shortages.
3. Capacity Expansion: The company's Fab9A is projected to reach peak capacity throughout 2026, and the ramp-up of Fab9B's capacity is expected to accelerate, suggesting strong production capabilities.
4. Capital Expenditure Forecast: While capital expenditure (capex) for 2026 is forecasted to edge down year-over-year, there is an anticipated upsurge in 2027, indicating future growth potential.
5. Target Price Increase: CLSA raised its target price to HKD129.5, reflecting a positive outlook on the company's future performance.
These factors collectively led CLSA to reiterate its Outperform rating for HUA HONG SEMI.
CLSA
Price Target
2026-02-16
maintain
The analyst rating from CLSA for HUA HONG SEMI (01347.HK) is based on several key factors:
1. In-Line Results and Guidance: The company's 4Q25 results and 1Q26 guidance were broadly in line with expectations, indicating stable performance.
2. Growth in AI-Related Products: CLSA anticipates continued brisk growth in AI application-related products, such as PMIC (Power Management Integrated Circuits) and MCU (Microcontroller Units), which is expected to offset sluggishness in the consumer electronics sector due to memory shortages.
3. Capacity Expansion: The company's Fab9A is projected to reach peak capacity throughout 2026, and the ramp-up of Fab9B's capacity is expected to accelerate, suggesting strong production capabilities.
4. Capital Expenditure Forecast: While capital expenditure (capex) for 2026 is forecasted to edge down year-over-year, there is an anticipated upsurge in 2027, indicating future growth potential.
5. Target Price Increase: CLSA raised its target price to HKD129.5, reflecting a positive outlook on the company's future performance.
These factors collectively led CLSA to reiterate its Outperform rating for HUA HONG SEMI.
BofA Securities
BofA Securities
Underperform
maintain
$59 -> $61
2026-02-13
Reason
The analyst rating for HUA HONG SEMI (01347.HK) from BofA Securities is "Underperform." This rating is based on the company's continued experience of operating losses despite reporting 4Q25 sales that aligned with expectations and reached the upper end of guidance. The gross margin remained stable but showed no improvement from the previous quarter. Although BofA anticipates a resumption of dividends in 2026, the lack of significant improvement in financial performance led to the reiteration of the Underperform rating, despite raising the target price from HKD59 to HKD61.
BofA Securities
Underperform
Price Target
$59 -> $61
2026-02-13
maintain
The analyst rating for HUA HONG SEMI (01347.HK) from BofA Securities is "Underperform." This rating is based on the company's continued experience of operating losses despite reporting 4Q25 sales that aligned with expectations and reached the upper end of guidance. The gross margin remained stable but showed no improvement from the previous quarter. Although BofA anticipates a resumption of dividends in 2026, the lack of significant improvement in financial performance led to the reiteration of the Underperform rating, despite raising the target price from HKD59 to HKD61.
Goldman Sachs
Buy
maintain
$134
2026-02-13
Reason
Goldman Sachs has maintained a Buy rating on HUA HONG SEMI due to several factors: the company's guidance for gross profit margin (GPM) is in line with expectations and shows improvement, with a GPM forecast of 13-15% for 1Q26 compared to 13% in 4Q25. This improvement is attributed to strong capacity utilization, rising average selling prices, and effective cost control. However, the revenue guidance for 1Q26 is slightly lower than Goldman Sachs' and market expectations, which may temper overall sentiment. Despite this, the positive outlook on GPM and the company's recent performance, including a significant revenue increase in 4Q25, supports the Buy rating and a target price of HKD134.
Goldman Sachs
Buy
Price Target
$134
2026-02-13
maintain
Goldman Sachs has maintained a Buy rating on HUA HONG SEMI due to several factors: the company's guidance for gross profit margin (GPM) is in line with expectations and shows improvement, with a GPM forecast of 13-15% for 1Q26 compared to 13% in 4Q25. This improvement is attributed to strong capacity utilization, rising average selling prices, and effective cost control. However, the revenue guidance for 1Q26 is slightly lower than Goldman Sachs' and market expectations, which may temper overall sentiment. Despite this, the positive outlook on GPM and the company's recent performance, including a significant revenue increase in 4Q25, supports the Buy rating and a target price of HKD134.
Goldman Sachs
Goldman Sachs
Buy
upgrade
$117 -> $134
2026-01-22
Reason
Goldman Sachs has reiterated a Buy rating on HUA HONG SEMI based on several positive factors:
1. Customer Preference for Local Foundries: There is a growing trend among customers to favor local semiconductor manufacturers.
2. Structural Growth Opportunities: The increase in market share of Chinese fabless companies is creating new growth opportunities within the global supply chain.
3. Improvement in Supply-Demand Relationship: The dynamics within the Chinese semiconductor industry are improving, which is beneficial for HUA HONG SEMI.
4. Long-term Uptrend in Average Selling Prices: Continuous capacity expansion and advancements toward the 28/22nm process node are expected to drive up average selling prices over the long term.
These factors have led Goldman Sachs to raise its target price for the stock from HKD117 to HKD134.
Goldman Sachs
Buy
Price Target
$117 -> $134
2026-01-22
upgrade
Goldman Sachs has reiterated a Buy rating on HUA HONG SEMI based on several positive factors:
1. Customer Preference for Local Foundries: There is a growing trend among customers to favor local semiconductor manufacturers.
2. Structural Growth Opportunities: The increase in market share of Chinese fabless companies is creating new growth opportunities within the global supply chain.
3. Improvement in Supply-Demand Relationship: The dynamics within the Chinese semiconductor industry are improving, which is beneficial for HUA HONG SEMI.
4. Long-term Uptrend in Average Selling Prices: Continuous capacity expansion and advancements toward the 28/22nm process node are expected to drive up average selling prices over the long term.
These factors have led Goldman Sachs to raise its target price for the stock from HKD117 to HKD134.
Goldman Sachs
maintain
$117
2026-01-08
Reason
The analyst rating from Goldman Sachs is a "Buy" for HUA HONG SEMI due to several key factors:
1. Robust Demand: Management expects strong demand for the company's various technology platforms, which is anticipated to support high capacity utilization.
2. Product Mix Optimization: The company plans to optimize its product mix, which can enhance profitability.
3. Average Price Increases: There is an expectation of average price increases for their products.
4. Cost Control Measures: Ongoing cost control measures are in place, contributing to a positive outlook on future profitability.
5. Capacity Expansion and Technological Transition: High capacity utilization, continuous capacity expansion, and a transition to advanced technology nodes (28/22 nm) further support the positive outlook.
Goldman Sachs has set a target price of HKD117, reflecting confidence in the company's sustainable scale expansion and technological innovation.
Goldman Sachs
Price Target
$117
2026-01-08
maintain
The analyst rating from Goldman Sachs is a "Buy" for HUA HONG SEMI due to several key factors:
1. Robust Demand: Management expects strong demand for the company's various technology platforms, which is anticipated to support high capacity utilization.
2. Product Mix Optimization: The company plans to optimize its product mix, which can enhance profitability.
3. Average Price Increases: There is an expectation of average price increases for their products.
4. Cost Control Measures: Ongoing cost control measures are in place, contributing to a positive outlook on future profitability.
5. Capacity Expansion and Technological Transition: High capacity utilization, continuous capacity expansion, and a transition to advanced technology nodes (28/22 nm) further support the positive outlook.
Goldman Sachs has set a target price of HKD117, reflecting confidence in the company's sustainable scale expansion and technological innovation.
Huatai Securities
Huatai Securities
maintain
$119 -> $120
2026-01-07
Reason
The analyst rating from Huatai Securities is based on the anticipated significant enhancement in performance for HUA HONG SEMI following its planned acquisition of Huali Microelectronics. The pro forma assessment indicates that the acquisition is expected to lead to a substantial increase in net profit attributable to the parent company, projected to rise by 151% to RMB960 million, and a boost in earnings per share (EPS) by 127% to RMB0.5. This potential leapfrog growth in profitability has led Huatai Securities to maintain a "Buy" rating and increase the target price for HUA HONG SEMI's H-shares from $119 to $120.
Huatai Securities
Price Target
$119 -> $120
2026-01-07
maintain
The analyst rating from Huatai Securities is based on the anticipated significant enhancement in performance for HUA HONG SEMI following its planned acquisition of Huali Microelectronics. The pro forma assessment indicates that the acquisition is expected to lead to a substantial increase in net profit attributable to the parent company, projected to rise by 151% to RMB960 million, and a boost in earnings per share (EPS) by 127% to RMB0.5. This potential leapfrog growth in profitability has led Huatai Securities to maintain a "Buy" rating and increase the target price for HUA HONG SEMI's H-shares from $119 to $120.
Valuation Metrics
Forward PE
5Y Average PE
34.77
Current PE
92.55
Overvalued PE
56.06
Undervalued PE
13.49
Forward EV/EBITDA
5Y Average EV/EBITDA
10.11
Current EV/EBITDA
24.40
Overvalued EV/EBITDA
15.37
Undervalued EV/EBITDA
4.85
Forward PS
5Y Average PS
3.00
Current PS
7.09
Overvalued PS
4.36
Undervalued PS
1.65
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