Lyon: Reiterates "Outperform" rating on HUA HONG SEMI (01347), expects sustainable and rapid growth in AI-related business.

14:59 16/02/2026

The statement said that Huahong's performance in the fourth quarter of last year and the first quarter of this year roughly met expectations. It is expected that products related to AI applications such as power management ICs and microcontrollers (MCUs) will continue to grow rapidly, offsetting the sluggish performance of the consumer electronics business affected by memory shortages.

Lyon released a research report stating that HUA HONG SEMI (01347) new 12-inch wafer fab Fab9A will reach its maximum production capacity this year, and the capacity expansion of Fab9B will also accelerate. It is predicted that capital expenditure in 2026 will slightly decrease compared to the previous year, and will significantly increase in 2027. In response, Lyon has raised its target price to 129.5 Hong Kong dollars and reiterated its "outperform" rating. The bank stated that Hua Hong's performance in the fourth quarter of last year and the first quarter of this year roughly met expectations. It is expected that products such as power management ICs and microcontrollers (MCUs) related to AI applications will continue to grow rapidly, offsetting the sluggish performance of the consumer electronics business due to memory shortages.

DEKON AGR (02419) spent 417,000 Hong Kong dollars to repurchase 5800 shares on February 16th.

MNSO (09896) spent 30,300 Hong Kong dollars to repurchase 800 shares on February 16th.

CHU KONG SHIP (00560) issues profit warning, expecting annual attributable net comprehensive profit of approximately HK$41 million to HK$55 million, a decrease of approximately 53%-65% year-on-year.

DEKON AGR (02419) spent 417,000 Hong Kong dollars to repurchase 5800 shares on February 16th.

MNSO (09896) spent 30,300 Hong Kong dollars to repurchase 800 shares on February 16th.

CHU KONG SHIP (00560) issues profit warning, expecting annual attributable net comprehensive profit of approximately HK$41 million to HK$55 million, a decrease of approximately 53%-65% year-on-year.