According to the financial news app, Zhixun Finance, Goldman Sachs has released a research report stating that it maintains its 'buy' rating on Hua Hong Semiconductor (01347), and has raised its annual profit forecast between 2024 and 2028 by 1% to reflect increased income. Since April 30, global chip foundry companies have seen their stock prices rise by 0% to 34%, reflecting a revaluation of the industry, with the target price raised from HKD 23 to HKD 26.3.

The report notes that local customers' demand for Hua Hong Semiconductor's IGBT, MCU, Analog and other professional technologies continues to grow, driven by electric vehicles, new energy and industrial applications, making the company bullish in the long term. Although its sales and prices are facing short-term downward pressure, it is believed that semiconductor demand will stabilize, and there may be a gradual recovery in the industry in the next few quarters.