【券商聚焦】建银国际维持中芯国际H股跑赢大盘评级 指其在本土先进芯片制造领域重要性日益提升

金吾资讯
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金吾财讯 | 建银国际研报指,中芯国际(00981/688981)3Q25收入环比增8%至23.8亿美元、毛利率22.0%均超预期,高产能利用率与产品组合优化抵消新厂折旧压力,4Q指引营收环比持平至略增、毛利率18-20%,工业与汽车需求保持强劲,资本开支持平下扩张继续,为供应链本土化核心受益标的。新晶圆厂产能加速折旧摊销将持续影响毛利率,但更高的产能利用率及产品结构优化有望抵消这一影响。该机构将...

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