智通财经APP获悉，中信证券发布研究报告称，中芯国际(00981，688981.SH)2024年第四季业绩超预期，营收达22.07亿元(美元.下同)，按季增1.7%;毛利率达22.6%，同比上升6.2个百分点。该行予中芯国际“买入”评级，H股目标价58港元，A股目标价150元人民币。
报告中称，中芯国际2025年第一季指引优于预期，季度收入按季增长6%至8%，毛利率介于19%至21%的范围内，显示获利能力稳健。该行指出，中芯国际资本支出维持高水位，2025年指引与前一年相近，市场原预期将会下调;随着在建工程逐步转为实际产能，后续产能释放有望加速。另外，中芯国际8英寸等效晶圆平均售价持续攀升，产能利用率则降至87%，主因12英寸新产能扩充推高分母。
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