华虹半导体(1347.HK)2025年四季度业绩点评:4Q25业绩符合指引 1Q26毛利率指引环增 FAB5收购有序推进

光大证券
Feb 14

事件:4Q25 业绩符合公司指引。公司4Q25 实现收入6.6 亿美元,YoY+22.4%,QoQ+3.9%,接近公司6.5~6.6 亿美元的指引区间上限,系晶圆出货量上升和ASP 增长,但略低于6.66 亿美元的市场预期。按晶圆尺寸分类,8 英寸收入2.53 亿美元,YoY+0.2%,QoQ-2.3%;12 英寸收入4.07 亿美元,YoY +41.9%,QoQ+8.1%,收入占比61.7%,...

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