Guohai Securities: Maintains "buy" rating on Wuhan Honghao Semiconductor (01347.HK) with ASP and gross profit margin maintaining a positive trend.

According to the Wise Finance APP, Guohai Securities issued a research report stating that they are optimistic about Huahong Semiconductor (01347.HK) because of the trend of independent and controllable technology combined with the "China for China" strategy, which is expected to lead to an increase in wafer volume and price, the injection of high-quality assets to improve the company's profitability and valuation levels. Guohai Securities maintains a "buy" rating for Huahong Semiconductor. The company said that the acquisition of Hualei Micro is expected to be officially completed before August 2026, and operational takeover is planned to start in 2026. The strategic value of this acquisition is significant, and is expected to increase Huahong Semiconductor's annual revenue by approximately 600-700 million US dollars. The target's depreciation cycle has passed, which may have a positive impact on the company's profitability. Based on prudential principles, the dilution of shares issued in this transaction and the impact of the acquisition are not considered at this time.