汇丰环球研究发表报告指，在中美持续紧张局势下，半导体领域的中芯国际(00981.HK) 将脱颖而出，并将继续受益于本土化趋势带来的国内需求。虽然中芯国际因特定设备良率问题导致短期平均售价(ASP)面临挑战，但汇丰仍预期该公司表现优于市场。
报告指出，鉴于更广泛的地缘政治条件下持续强化中国自给自足的推动力，汇丰认为中芯国际的本土化需求趋势带来更多上行空间，且中芯国际在2024年仅占中国晶圆代工市场总规模的25%，看到其市场份额有进一步提升的潜力。
汇丰看好中芯国际的国内需求增加带来更加的产品组合及更高的产能利用率，将2025和2026财年每股盈利预测分别上调约5%及21%。又将将港股目标价由35港元升至64港元；中芯(688981.SH) A股目标价从92元人民币升至148元(分别约有46%、73%上行空间)，目标市净率分别由1.6倍、4.5倍提升至2.9倍、7.2倍。汇丰认为，中芯国际依然受益于本土化及先进制程的进一步扩张，并因该公司具备定价能力及政府支持成为汇丰首选。因此，汇丰将中芯港股和A股评级分别由“减持”及“持有”一并上调至“买入”。(hc/a)(港股报价延迟最少十五分钟。沽空资料截至 2025-07-10 16:25。) (A股报价延迟最少十五分钟。)
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