MBHUAHO@EC2610A

Hua Hong Semiconductor Reports Q1 2026 Results: Revenue Up 22%, Announces $6 Billion Expansion for Fab9B

Morgan Stanley raises targets for SMIC and Hua Hong, citing AI-driven mature process shortage

BofA upgrades Hua Hong target price to $63 but reiterates Underperform rating on Q1 results

CLSA raises Huahong Semiconductor target price and valuation multiples, maintains outperform rating

CITIC International and Goldman Sachs Maintain Buy Ratings on Hua Hong Semiconductor with Target Prices of 145 HKD and 152 HKD

Morgan Stanley Maintains Hold Rating on Hua Hong Semiconductor with Target Price of HKD 88.00

Six Brokers Show Mixed Sentiment on Hua Hong Semiconductor Ratings and Price Targets

SMIC and Hua Hong Release 2026 Q1 Earnings, Both Raise Q2 Revenue Guidance

BOC International Maintains Buy Rating on Hua Hong Semiconductor and Raises Target Price to HK$152.4

CLSA Raises Hua Hong Semiconductor Target Price to 147.6 HKD, Citing AI and Domestic Substitution

Hua Hong Semiconductor holds AGM, approves name change to Hua Hong Grace Semiconductor and share buyback plan

HUA HONG SEMI released FY2026 Q1 earnings on May 14 After-Market (BJT), actual revenue HKD 5.244 B (forecast HKD 5.17 B), actual EPS HKD 0.0906 (forecast HKD 0.1387)

Hua Hong Semiconductor Reports Q1 2026 Net Profit of $20.9 Million with 22.2% Revenue Growth

CLSA Reiterates Outperform Ratings and Target Prices for Semiconductor Companies

HUA HONG SEMI to Release FY2026 Q1 Earnings on May 14 After-Market (BJT), Forecast Revenue HKD 5.167 B, EPS HKD 0.1386

Morgan Stanley Maintains Huahong Semiconductor 'In-Line' Rating

US Orders Multiple Chip Equipment Companies to Halt Shipments to HuaHong's Factories

CLSA Reports Resurgence in Analog Chip Demand, Upside for SMIC and Hua Hong

HuaHong Semiconductor Reports Revival in Demand for Mature Chip Processes in 2025 Annual Report

QPL INT'L

TRIGIANT

NICHE-TECH SEMI

BJ DIGITAL

NATURE ENERGY T

C.BANNER

CHUNCHENG HEAT

GW TERROIR

JLOGO HLDGS

KWONG MAN KEE

01347

02600

601600

159131

On May 26th, the A-share market experienced high-level fluctuations, with the Shanghai Composite Index slightly down, while the Shenzhen Component Index and the ChiNext Index saw slight increases. The non-ferrous sector led the market, with aluminum giant CHALCO hitting the daily limit. Brokerage stocks performed actively, with the Hwabao WP CSI Brokerage ETF rising. Hong Kong stocks in the chip sector saw a rebound, with SMIC and HUA HONG SEMI significantly increasing, and the Hong Kong Stock Connect Information Technology ETF achieving a record high in trading volume. The market was active, with significant short-term volatility, while the capital structure remained stable

同壁财经

HUA HONG SEMI

CHALCO

Hwabao WP CSI HK Connect Information Technology Composite ETF

SMIC

Hong Kong stocks in the chip sector rebounded, with 159131 gaining popularity, and funds aggressively purchased 386 million shares! The non-ferrous metals sector led the market, and brokerage firms showed rare excitement, with Hwabao Fund's brokerage ETF rising by 2%

00992

LNVGY

688347

The Hang Seng Index closed down 6 points at 25,599, while HUA HONG SEMI surged over 10% and LENOVO GROUP hit a record high, jumping nearly 18%. Asian markets showed mixed performance, with notable gains in chip stocks following Huawei's semiconductor announcement. Major tech stocks were mixed, with some blue chips like WUXI BIO and J&T EXPRESS also performing well. Overall market turnover reached HKD359.476 billion.

AASTOCKS News

LENOVO GROUP

Lenovo Group

Hua Hong

Hang Seng Index

Hang Seng TECH Index

Hang Seng China Enterprises Index

ASMPT

GIGADEVICE

MEITUAN

JD-SW

JD.com

TENCENT

KUAISHOU-W

BABA-W

Alibaba

Goldman Sachs

WUXI BIO

CK ASSET

WH GROUP

J&T EXPRESS-W

BEONE MEDICINES

DONGYUE GROUP

KNOWLEDGE ATLAS

KB LAMINATES

LENOVO GROUP-R

SMIC HK SDR 5to1

MEITUAN-WR

Meituan

Meituan HK SDR 5to1

JD-SWR

Tencent

TENCENT-R

Tencent HK SDR 10to1

Tencent Holdings Limited

KUAISHOU-WR

BABA-WR

Alibaba HK SDR 5to1

GS Hldg R

WuXi Biologics

WH Group

BeOne Medicines

Beigene

HSI Closes Down 6 pts; HUA HONG SEMI Surges Over 10%; LENOVO GROUP Hits Record High, Jumps Nearly 18%

02476

03993

09980

06869

00288

03750

09926

LENOVO GROUP(00992) rose 15.49%, with a trading turnover 9.9 Billion HKD, and a year-to-date rose 96.4%. HUA HONG SEMI(01347) rose 10.45%, with a trading turnover 11.6 Billion HKD, and a year-to-date rose 93.4%. EASTROC(09980) fell 8.92%, with a trading turnover 88.0 Million HKD, and a year-to-date fell 44.2%. YOFC(06869) fell 6.15%, with a trading turnover 3.6 Billion HKD, and a year-to-date rose 313.2%.

Top Gainers&Losers

CMOC

EASTROC

YOFC

CATL

AKESO

Top 5 HK Stock Gainers/Losers (>100B) (5.26)

HUA HONG SEMI rose 11.61%; SMIC rose 6.32%, with a transaction volume of HKD 31.4 billion; GigaDevice rose 6.81%, with a transaction volume of HKD 2.021 billion; Montage Technology fell 0.72%, with a transaction volume of HKD 1.692 billion; Tensilica rose 6.98%, with a market value of HKD 132.4 billion

HK Stock Alerts

MONTAGE TECH

ILUVATAR COREX

Hong Kong stock movement: Huawei's semiconductor technology breakthrough sparks market optimism, HUA HONG SEMI stock price soars 11.61%

HUA HONG SEMI rose 10.76%; SMIC rose 8.52%, with a transaction volume reaching HKD 22.7 billion; GigaDevice rose 5.91%, with a transaction volume reaching HKD 1.436 billion; Montage Technology fell 0.38%, with a transaction volume reaching HKD 1.211 billion; Tensilica rose 4.00%, with a market value reaching HKD 128.8 billion

Hong Kong Stock Movement: HUA HONG SEMI rises 10.76%, strong demand for semiconductor equipment and upgraded ratings boost stock price surge

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688008

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CLSA released a report on semiconductor stocks, providing investment ratings and target prices (TPs). Key stocks include MONTAGE TECH (Buy, HKD447.2), GIGADEVICE (Outperform, HKD782.3), ASMPT (Outperform, HKD182.7), BIREN TECH (Outperform, HKD67.4), SMIC (Outperform, HKD94.1), and HUA HONG SEMI (Outperform, HKD147.6). Short selling data indicates varying ratios across these stocks.

Montage Technology

BIREN TECH

CLSA Ratings, TPs on Semis (Table)

SMIC and HUA HONG SEMI opened approximately 15% higher following Huawei's unveiling of the 'Tau Law' at ISCAS 2026, which proposes a new semiconductor theory. SMIC opened at HKD91.8, up 10.14%, while HUA HONG SEMI opened at HKD149.6, up 12.76%. Significant trading volumes were noted in pre-market transactions.

SMIC, HUA HONG SEMI Open ~15% Higher as Huawei Unveils New Semiconductor Theory

FTXL

Huawei announced its "Tao Law" technological breakthrough, driving the Hong Kong stock semiconductor sector up, with HUA HONG SEMI rising over 12% to reach a historical high. Analysts pointed out that this law will enhance chip transistor density, boosting demand for related equipment. The Hang Seng Tech Index has for the first time included AI large model companies Zhipu and MiniMax, which is expected to attract a large inflow of southbound funds, marking an upgrade of the index structure to "AI native."

First Trust Nasdaq Food & Semicon

51WORLD

China Merchants CSI HK Connect Information Technology Composite ETF

CMSC

MINIMAX-W

Morgan Stanley

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

Huawei's "Tao Law" breaks the process ceiling, HUA HONG SEMI surges over 12% to reach a historic high

513180

Hong Kong stock chip stocks continue to strengthen, with the Hang Seng Technology ETF ChinaAMC (513180) currently up nearly 1.5%. Influenced by Huawei's release of the "Tao Law" and national policy support, the chip sector has exploded. Lenovo Group is up over 14%, Hua Hong Semiconductor is nearly 12%, and SMIC is nearly 10%. Industrial Securities and China Galaxy Securities both stated that the current valuation of the Hang Seng Technology Index is low, providing a high margin of safety, and the ETF offers investors a convenient tool for allocating technology assets

ChinaAMC Hang Seng Technology ETF(QDII)

INDUSTRIAL SECURITIES

XIAOMI-W

Xiaomi Corporation

XIAOMI-WR

Xiaomi HK SDR 2to1

Hong Kong stock chip stocks continue to strengthen, Hang Seng Technology ETF ChinaAMC (513180) is currently up nearly 1.5%

MBHUAHO@EC2610A(28564.HK)