Goldman Sachs released a research report sayingunrealengine5crypto, maintain the "Buy" rating of Huahong Semiconductor (01347)unrealengine5crypto, target price 22unrealengine5crypto.7 Hong Kong dollars. The company's revenue guidance for the second quarter of 2024 is 4unrealengine5cryptoUS$70 million to US$500 million, a quarter-on-quarter increase of approximately 2%-9%, lower than the bank's forecast of US$539 million and market expectations of approximately 2%. The gross profit margin guidance is 6%-10%, lower than the bank's forecast of 10.8%, but higher than the market expectation of 6.8%.

The bank said that although Huahong Semiconductor's revenue and gross profit margin guidelines for the second quarter of 2024 have improved, the bank's expectations are still slightly lower because the first quarter is usually a low season. In view of the fact that the group is driven by electric vehicles, new energy and industrial applications, local customers

With the growing demand for professional technologies such as IGBT, MCU, and Analog, the bank is optimistic about Huahong Semiconductor's long-term growth.