中芯国际:4Q24业绩超预期 消费补库意愿强 指引积极

中金公司
13 Feb

4Q24 业绩高于我们预期中芯国际发布4Q24 业绩,港股口径4Q24 收入22.07 亿美元,QoQ+1.7%,YoY+32%;产能利用率86%(上季度为90%),超出我们预期;毛利率22.6%,超出公司上季度指引上限的20%,超出我们预期;净利润1.08 亿美元。毛利率超预期主要因为4Q 产销结构持续改善,如手机、平板、AIOT 等产品在消费政策刺激传导下需求相对旺盛。公司指引1Q25 收入...

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