Daiwa Reiterates Buy on HUA HONG SEMI as 1Q26 Profit Meets Expectations
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Daiwa has reiterated a Buy rating on HUA HONG SEMIafter the company reported a net profit of USD21 million in 1Q26, a 4.6x YoY increase. Revenue rose 22% YoY to USD661 million, driven by increased shipments and average selling prices. Management expects 2Q26 revenue of USD690-700 million and gross margin of 14-16%. The report highlights a global shortage in silicon photonics chip supply and mentions the upcoming completion of the Fab5 acquisition in 2H26, which may lead to more M&A activities in 2027.
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