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<Research>CLSA Hikes HUA HONG SEMI (01347.HK) TP to HKD147.6 on AI-fueled Expansion
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HUA HONG SEMI (01347.HK) will continue to benefit from strong growth in AI and the ongoing trend of domestic substitution, CLSA said in a research report. The group's 1Q results and 2Q guidance were broadly in line, while the company is ambitiously scouting new areas such as compound semiconductors and silicon photonics. The broker raised its valuation multiples for H shares and A shares. The 2027E PB for H shares was lifted from 4x to 4.5x, and for A shares from 6x to 6.5x. The TP for H shares was accordingly raised from HKD129.5 to HKD147.6. The TP for HUA HONG (688347.SH) A shares was increased from RMB177.5 to RMB194.9. Both were rated Outperform. Motivated by AI-led business growth and new product expansion, the company's valuation should be above its historical average. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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