--- title: "Hong Kong stock movement: MONTAGE TECH fell 11.73%, with share price fluctuations caused by a divergence between reduction in holdings and market expectations" type: "News" locale: "en" url: "https://longbridge.com/en/news/286515030.md" description: "MONTAGE TECH fell 11.73%; SMIC fell 0.07%, with a transaction volume of HKD 9.679 billion; Hua Hong Semiconductor fell 8.35%, with a transaction volume of HKD 5.408 billion; Innovent Biologics fell 10.96%, with a transaction volume of HKD 1.499 billion; GigaDevice fell 3.34%, with a market value of HKD 355.1 billion" datetime: "2026-05-15T06:02:36.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286515030.md) - [en](https://longbridge.com/en/news/286515030.md) - [zh-HK](https://longbridge.com/zh-HK/news/286515030.md) --- # Hong Kong stock movement: MONTAGE TECH fell 11.73%, with share price fluctuations caused by a divergence between reduction in holdings and market expectations **Hong Kong Stock Movement** MONTAGE TECH fell 11.73%. Based on recent news, 1. On May 14, MONTAGE TECH held a performance briefing for the fiscal year 2025 and the first quarter of 2026. Despite significant growth in both revenue and net profit, there are divergent market expectations regarding its future growth, leading to a decline in stock price. MONTAGE TECH achieved a revenue of 1.461 billion yuan in the first quarter of 2026, a year-on-year increase of 19.51%; the net profit attributable to shareholders of the listed company was 847 million yuan, a year-on-year increase of 61.3%. 2. On May 13, Morgan Stanley reduced its holdings in MONTAGE TECH by 248,684 shares, at a price of 320.3252 HKD per share, totaling approximately 79.6598 million HKD. After the reduction, the latest shareholding ratio is 5.74%. This reduction has raised market concerns, leading to a decline in stock price. 3. On May 13, Goldman Sachs published a report indicating that MONTAGE TECH benefits from the demand for memory interface ICs for CPU inference workloads, expecting a compound annual growth rate of 38% in net profit between 2026 and 2028. Although Goldman Sachs holds an optimistic view on the company's growth prospects, there are still market doubts about its short-term performance, leading to stock price fluctuations. The AI industry chain remains hot, with significant capital flow. **Stocks with High Trading Volume in the Industry** SMIC fell 0.07%. Based on recent news, 1. On May 14, SMIC announced its first-quarter performance for 2026, with sales revenue of 2.505 billion USD, a quarter-on-quarter increase of 0.7%, and a gross margin of 20.1%, an increase of 0.9 percentage points quarter-on-quarter. The company’s revenue guidance for the second quarter is a quarter-on-quarter increase of 14% to 16%, with a gross margin guidance of 20%-22%. After the performance announcement, the market reaction was muted, and the stock price slightly declined. Source: Zhitong Finance 2. On May 14, SMIC announced plans to acquire 49% equity in SMIC North Integrated Circuit Manufacturing (Beijing) through a share issuance, and the transaction has been approved by the Shanghai Stock Exchange's M&A Review Committee. This move will further enhance the company's competitiveness in the integrated circuit manufacturing field, but the short-term impact on stock price is limited. Source: Economic Information Daily 3. On May 15, SMIC's co-CEO Zhao Haijun stated at the performance briefing that the AI boom has driven an increase in demand for power management and data transmission chips. The company has negotiated price increases with customers, and the effects of these price hikes are gradually being realized. Although the market is optimistic about future performance, stock price fluctuations remain significant in the short term. Source: Zhitong Finance. The overall industry performance is stable, with AI demand driving the chip market. Huahong Semiconductor fell 8.35%. Based on recent key news: 1. On May 14, Huahong Semiconductor released its first-quarter performance, with sales revenue reaching 660.9 million USD, a year-on-year increase of 22.2%, but the gross margin was only 13%, slightly below market expectations, leading to pressure on the stock price. Source: Zhitong Finance 2. On May 14th, Hua Hong Semiconductor announced its plan to acquire Huali Microelectronics. The transaction has been accepted by the Shanghai Stock Exchange and has entered the substantive review stage, with the market taking a wait-and-see attitude towards the acquisition progress. Source: Jin10 Data 3. On May 15th, Citigroup raised the valuation multiple for Hua Hong Semiconductor, believing it will benefit from AI growth and the trend of domestic substitution, but the market remains cautious about its profitability improvement in the short term. Source: Citigroup report on semiconductor industry demand recovery, with significant capital inflow. InnoCare Pharma fell 10.96%. Based on recent news, 1. On May 13th, InnoCare Pharma had a large transaction with a transaction amount exceeding HKD 20 million, indicating high market attention on the stock, leading to price fluctuations. 2. On May 14th, InnoCare Pharma recorded a large transaction with a transaction amount of HKD 80 million, and the stock price fell by 4.31%, reflecting market concerns about its short-term prospects. 3. On May 15th, Citigroup released a report stating that InnoCare Pharma has made progress in its 800V DC servo business, but lowered its earnings forecasts for 2027 and 2028 by 5% each, maintaining an "outperform" rating with a target price of HKD 113.6, causing fluctuations in market sentiment. The semiconductor sector has been active recently, with significant capital inflow. **Stocks ranked at the top of the industry by market capitalization** Zhaoyi Innovation fell 3.34%, with a market capitalization of HKD 355.1 billion, and there has been no significant news recently. Trading is active, with clear capital flow. Considering the sector and industry trends, the stock shows significant volatility, and specific reasons need further observation ### Related Stocks - [06809.HK](https://longbridge.com/en/quote/06809.HK.md) - [00981.HK](https://longbridge.com/en/quote/00981.HK.md) - [01347.HK](https://longbridge.com/en/quote/01347.HK.md) - [02577.HK](https://longbridge.com/en/quote/02577.HK.md) - [03986.HK](https://longbridge.com/en/quote/03986.HK.md) ## Related News & Research - [Montage Technology Co., Ltd. Class H (6809): New Buy Recommendation for This Technology Giant](https://longbridge.com/en/news/285799412.md) - [Is Valeura Energy (TSX:VLE) Balancing Growth Ambitions and Discipline With Its Steady 2026 Plan?](https://longbridge.com/en/news/286679843.md) - [Samsung and labor union to meet in 'last chance' to avert strike](https://longbridge.com/en/news/286675762.md) - [“Tamimi Markets” to Serve Pilgrims in Makkah During Hajj with 24/7 Pop-Up Store](https://longbridge.com/en/news/286893019.md) - [ROI-Want to jump into the 'China is back' rally? Tread carefully: Raychaudhuri](https://longbridge.com/en/news/286685214.md)