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<Research>CLSA Lifts HUA HONG SEMI's TP to HKD95.6; GPM Outlook Stable
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HUA HONG SEMI (01347.HK)'s 3Q25 GPM and 4Q25 guidance beat expectations with the support of a recovery in demand and higher average selling prices as a result of upgraded product mix, CLSA wrote in its research report.

The report also highlighted that the progress in HUA HONG SEMI expanding capacity at the new 12-inch wafer plant aligns with expectations, and the acquisition of the Hua Hong Fab5 plant project is proceeding as planned.

Related NewsNomura Keeps HUA HONG SEMI's TP at HKD46 w/ Neutral Rating; 3Q Rev. in Line
CLSA raised its target price for HUA HONG SEMI from HKD68.4 to HKD95.6, with an Outperform rating remaining in place.
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