该行表示，基于中芯次季的业绩及第三季指引，将其2024至28年各年盈利预测分别上调64%、5%、4%、4%及2%。另外，预计2024年的收入预测升5%，2025至26年分别增2%，而2027至28年则分别升3%，而2024年的毛利率预测升2.3个百分点，2025至27年各年则轻微上调各0.1百分点，并维持2028年预测不变。Goldman Sachs expects SMIC's (00981) revenue forecast to rise 5% in 2024.
The Zhitong Finance App learned that Goldman Sachs released a research report stating that it gave SMIC (00981) a “neutral” rating, and the target price was raised 5% from HK$21.4 to HK$22.4.
According to the report, SMIC's demand for consumer electronics and smartphone restocking continued to support its shipments and shipments in the third quarter. However, since customers usually review and readjust orders during the quarter, there is still uncertainty in the fourth quarter. Benefiting from the improved product portfolio, management's revenue and gross margin guidance for the third quarter was better than expected. Revenue is expected to increase by 13% to 15% from quarter to quarter, and gross margin is expected to reach 18% to 20%. It is also expected that the company's annual revenue growth will be superior to that of peers, while revenue for the second half of the year will be better than in the first half of the year.
The bank said it raised its profit forecast for each year of 2024-28 by 64%, 5%, 4%, and 2%, respectively, based on SMIC's second-quarter results and third-quarter guidance. Furthermore, the revenue forecast for 2024 is expected to increase by 5%, and the 2025-26 increase by 2%, respectively, while the 2027-28 increase is 3%, while the gross margin forecast for 2024 will rise by 2.3 percentage points, and the 2028-year forecast will rise slightly by 0.1 percentage points each, and the 2028 forecast will remain unchanged.
