瑞银发表研究报告指，中芯(00981.HK) 上季经营利润为2.14亿美元，高于市场预测的1.93亿美元；收入按季升1.7%，相对公司指引为持平至增2%；毛利率22.6%，优于指引的18至20%。集团将受惠中国半导体本地化，惟将被利润压力抵销。
报告提到，中芯预计首季销售按季增6至8%，虽然出货量增加，但由于产品组合较弱，令均价轻微下降，并预期毛利率介乎19至21%。至于今年全年，集团预期人工智能将继续提供强劲的需求，而其他市场则应保持平稳或温和增长。如果外部环境没有重大变化，集团预计其收入增长将可超过同业平均水平。
瑞银将中芯2025年的每股盈测由0.2美元下调至0.18美元，以反映最新指引及利润压力上升。该行续予集团“沽售”评级，维持目标价14元。(sl/u)(港股报价延迟最少十五分钟。沽空资料截至 2025-02-12 16:25。)
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