CICC International: Enhance the target price of SMIC (01347.HK) to HK$37 and maintain a "buy" rating.

According to the Wisdom Finance APP, Guotai Junan International released a research report stating that Huahong Semiconductor (01347.HK), as one of the leaders in domestic special technology, considering the valuation gap between the company and comparable industry companies, has raised the H-share target price from HK$32 to HK$37, a 16% increase, relative to 1.3 times the 2025 P/B ratio, maintaining a "buy" rating. The bank adjusted its forecasted revenue for 2025/26 to $2.29 billion and $2.77 billion, while also lowering gross margin forecasts to 9.2% and 14.9%.