Lyon said that the capacity utilization rate of Huahong Semiconductor (01347) in the past two months has improved as orders have increased, while construction of the production facility in Wuxi is progressing smoothly and will be put into operation by the end of this year.
The Zhitong Finance App learned that Lyon released a research report stating that the rating of Huahong Semiconductor (01347) was raised from “outperforming the market” to “outperforming the market”. Based on the stock's current low valuation and moderate recovery, the target price is HK$16.4. The Group's results for the last quarter were in line with the guidelines, while the gross margin guidelines for the first quarter of this year were slightly lower than expected. Capacity utilization in the past two months improved as orders increased, while construction of production facilities in Wuxi progressed smoothly and will be put into operation by the end of this year.