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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

Huahong Semiconductor to Hold Annual General Meeting in 2026

Nomura Raises Semiconductor Manufacturing Company Huahong Target Price to HKD 116.00

Huahong Company Announces Pricing Strategy Adjustments to Boost Average Selling Prices

Huahong Company's Collaboration with STMicroelectronics on 40nm MCU Progressing Smoothly

Huahong Semiconductor's Acquisition of Huaile Micro Acquired CSRC's Approval

Huahong Semiconductor Receives Shanghai Stock Exchange Approval for Share Issuance Acquisition Plan

Huahong Semiconductor Announces Annual Profit and Suggests Name Change

HuaHong Announces Revenue Growth and Profit Decline for 2025 Without Dividend Distribution

Hong Kong Chip Stocks Open Lower: Gigadevice Down Over 5%, Huahong Semiconductor Follow Lower

HUA HONG SEMI to Release FY2025 Earnings on March 26 Pre-Market (BJT), Forecast Revenue HKD 18.75 B, EPS HKD 0.3215

Morningstar Maintains Semiconductor Manufacturing International's Fair Value Estimate at HKD 34

HuaHong Group Develops 7 Nanometer Chip Technology Ready for Production

Morgan Stanley Upgrades Semiconductor Company Huahong

Shanghai Huayaoxin Semiconductor Co., Ltd. Established with Registered Capital of 1 Billion Yuan

REF HOLDINGS

KANGLI INT HLDG

JY GRANDMARK

GANGLONG CHINA

EDICO HOLDINGS

SHING CHI HLDGS

KWONG MAN KEE

JIN MI FANG GP

ZHONGKE GROUP

CH DEMETER FIN

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Shanghai and Shenzhen markets opened lower, with indices down 0.5% to 0.9%. Investors are awaiting a meeting between Chinese and US leaders. The RMB central parity against the USD was set at 6.8431, down 5 bps MoM. The People's Bank of China conducted RMB500 million of reverse repos, resulting in a net liquidity withdrawal of RMB25.5 billion. Chip-related stocks faced pressure, with SMIC and HUA HONG down 2.4% and 1.6%, respectively. Other notable declines included domestic GPU makers and optical fibre manufacturers.

AASTOCKS News

HUA HONG SEMI

Hua Hong

SMIC

Guotai CSI Semiconductor Material Equipment Theme ETF

ChinaAMC Guozheng Semiconductor Chip ETF

SSE Index

Shenzhen Index

ChiNext

ICBC

BYD COMPANY

CATL

Cambricon

MetaX

Moore Threads

Montage Technology

YOFC

BYD HK SDR 10to1

BYD Company

BYD Company Limited

BYD COMPANY-R

CATL HK SDR 30to1

SMIC HK SDR 5to1

MONTAGE TECH

Shanghai & Shenzhen Markets Open 0.5%0.9% Lower; Chip-Related Stocks Weak

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Southbound funds recorded a net purchase of 790 million yuan today. In the Shanghai-Hong Kong Stock Connect, Kuaishou-W and Montage Technology saw net purchases of 316 million and 190 million Hong Kong dollars, respectively. SMIC had the highest net sell-off at 486 million Hong Kong dollars. In the Shenzhen-Hong Kong Stock Connect, SMIC and Pop Mart recorded net purchases of 290 million and 30 million Hong Kong dollars, while Hua Hong Semiconductor faced the highest net sell-off at 805 million Hong Kong dollars.

CoinLive

POP MART

Guotai CSI All Share Integrated Circuit ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

MEITUAN

MEITUAN-WR

Meituan

Meituan HK SDR 5to1

POP MART HK SDR 20to1

STOCKS | Southbound Funds Record Net Purchase of 790 Million Yuan

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Hong Kong's stock market closed lower today, with the Hang Seng Index down 0.22% and the Hang Seng Tech Index falling 0.7%. Leapmotordropped over 6%, while Lenovo Groupand Hua Hong Semiconductorboth declined by more than 3%.

LENOVO GROUP

Hang Seng Index

Hang Seng TECH Index

LEAPMOTOR

LENOVO GROUP-R

Lenovo Group

Hong Kong Stocks Close Lower as Tech Sector Declines

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Yesterday's closing price for NSING TECH was HKD 12.96, with a trading volume of approximately HKD 140 million, which is relatively high activity among small and mid-cap semiconductor stocks. The MACD daily line formed a golden cross above the zero axis, with bullish momentum gathering again, indicating that the previous upward trend may welcome a new round of upward impulse after a brief consolidation. From the market rhythm, buying power is recovering, and the initial momentum for confirming the short-term trend is beginning to strengthen. On the news front, positive developments are emerging in the global semiconductor industry. NVIDIA's next-generation AI platform Vera Rubin is scheduled for trial production in June and shipment to major customers in July, while TSMC is fully ramping up its 3nm process, leading to a continuous uptrend in the entire chip industry chain. The news of deep cooperation between Intel and NVIDIA has further ignited market enthusiasm for the entire semiconductor industry chain, with Hong Kong's HUA HONG SEMI rising 2.45% yesterday and SMIC up over 4%, showing significant sector linkage effects. As an important player in the domestic semiconductor security chip field, NSING TECH benefits from both domestic substitution and the expansion of AI computing power demand, leading to a noticeable increase in capital attention recently. From a technical perspective, NSING TECH's stock price is currently operating above the moving average system, with short-term moving averages showing a bullish arrangement. The MACD golden cross appears above the zero axis, which is generally regarded as a positive signal for the continuation of the medium-term trend. Yesterday's trading volume was larger compared to the previous few trading days, indicating that external funds are accelerating their inflow

Technical Forecast

NSING TECH

Pre-market trend | NSING TECH (2701.HK) 5/11 Semiconductor boom surges, funds accelerate layout?

Hong Kong's stock market opened lower, with the Hang Seng Index down 0.31% and the Hang Seng Tech Index down 0.48%. Technology stocks showed mixed results; Hua Hong Semiconductor rose over 5% and SMIC increased by more than 3%, while Baidu fell by over 3%.

BIDU-SW

Baidu

BIDU-SWR

STOCKS | Hong Kong Stock Market Opens Lower as Tech Stocks Show Mixed Performance

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PRODUCTIVE TECH(00650) fell 10.39%, with a trading turnover 25.7 Million HKD, and a year-to-date rose 267%. MINIMAX-W(00100) fell 9.51%, with a trading turnover 881.2 Million HKD, and a year-to-date rose 350%. DEEPEXI TECH(01384) fell 9.28%, with a trading turnover 2.5 Billion HKD, and a year-to-date fell 6.8%.

Top Gainers&Losers

PRODUCTIVE TECH

MINIMAX-W

DEEPEXI TECH

CNGR

DONGFANG ELEC

ILUVATAR COREX

STAR SPORTS MED

TIANQI LITHIUM

LOPAL TECH

Top 10 HK Stock Losers (5.8)

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HUAQIN(03296) rose 10.09%, with a trading turnover 323.3 Million HKD, and a year-to-date rose 54.4%. KUAISHOU-W(01024) rose 9.4%, with a trading turnover 9.0 Billion HKD, and a year-to-date fell 17.2%. MINIMAX-W(00100) fell 9.51%, with a trading turnover 881.2 Million HKD, and a year-to-date rose 350%. HUA HONG SEMI(01347) fell 7.5%, with a trading turnover 7.2 Billion HKD, and a year-to-date rose 76%.

- The Hang Seng Index fell by 0.87%, with a year-to-date increase of 3%.  
- The Hang Seng Tech Index declined by 0.36%, showing a year-to-date drop of 7.5%.  
- Notable stock movements include Huqina Technology rising by 10.09% and Kuaishou-W increasing by 9.4%, while MINIMAX-W dropped by 9.51% and Huahong Semiconductor decreased by 7.5%.

HUAQIN

KUAISHOU-W

Top 5 HK Stock Gainers/Losers (>100B) (5.8)

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In the afternoon of May 8, Hong Kong's three major indices fluctuated lower. Rising US Treasury yields and wait-and-see sentiment ahead of the non-farm payrolls data suppressed market risk appetite, leading to a collective pullback in semiconductors and large-cap Majority Stake stocks. Capital showed clear risk-averse and structural switching logic: the optical communication sector, catalyzed by Nvidia, and gold resource stocks supported by central bank purchases remained resilient, while high-performing consumer leaders like Pop Mart attracted huddling together for warmth from investors amidst the weakness

Market Pulse

EFUND GOLD MI ETF

Microsectors Gold Miners 3x Leveraged ETN

Direxion Daily Jr Gold Miners Bull 2X

Sprott GLD Miners Etf

ChinaAMC Gold ETF

Sprott JR Gold Miners ETF

VanEck Junior Gold Miners ETF

EFUND GOLD MI-U

Direxion Daily Gold Miners Bull 2X

iShares MSCI Global Gold Miners

TRACKER FUND

HSCEI ETF

CSOP HS TECH

TENCENT

BABA-W

NVIDIA

Corning

GIGADEVICE

HTSC

ZIJIN GOLD INTL

ZIJIN MINING

Zijin Mining

CMOC

160 HEALTH

Drinda

MEITU

XL2CSOPHYNIX

Tencent

TENCENT-R

Tencent HK SDR 10to1

Tencent Holdings Limited

Alibaba

BABA-WR

Alibaba HK SDR 5to1

NVIDIA Corporation

KUAISHOU-WR

Huatai Securities Co., Ltd. GDR Class A RegS

AIA-R

AIA Group

DRINDA

Hong Kong Stocks Intraday: Three Major Indices Fluctuate and Decline, Semiconductor Sector Stumbles, AI Infrastructure Breaks Through Against the Trend

The HSI dropped 290 points or 1.1% to 26,335 points at midday, influenced by renewed US-Iran tensions. Major blue chips like Tencent and Alibaba fell, while Pop Mart surged 5%. The HSCEI and HSTECH also declined. Notable losses were seen in chip stocks SMIC and HUA HONG SEMI, while some tech stocks like BIDU and XIAOMI saw gains. Overall, the market experienced significant volatility with a half-day turnover of HKD145.541 billion.

HSI Drops 290 pts at Midday; SMIC and HUA HONG SEMI Retreat; POP MART Surges Another 5%

HUA HONG SEMI fell 10.18%; SMIC fell 4.89%, with a transaction volume of HKD 4.646 billion; Montage Technology fell 3.80%, with a transaction volume of HKD 675 million; GigaDevice fell 5.88%, with a transaction volume of HKD 652 million; Days Intelligent Chip fell 3.77%, with a market value of HKD 146.1 billion

HK Stock Alerts

Hong Kong stock movement: HUA HONG SEMI fell 10.18%, with high-level selling pressure intertwined with market caution

Today’s Key News Recap

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0427 | Dolphin Research Focus: 🐬 Macro/Industry1) Last week, DeepSeek surprise-launched its flagship foundation model DeepSeek-V4 and fully open-sourced it, a key market catalyst. With AI advances as a tailwind, semis extended gains today: the Hong Kong Semiconductor Index jumped 5%+, led by SMIC and Hua Hong Semiconductor.The new model is tuned for domestic compute and pursues a non-CUDA stack, expanding edge-AI use cases and sustaining demand for local chips. Flows continue to pile into themes of self-reliant compute and domestic substitution...

Kaiser Aluminum

Hesai

HESAI-W

Destiny Tech100

Oracle

ORACLE CORP DEPOSITARY SH REP 1/2000TH PFD SER D

MediaTek

DeepSeek

Qualcomm

Sungrow Power Supply

OpenAI

Coca Cola

DeepSeek-V4 open-sourced, igniting the AI compute supply chain; Tencent's QClaw rolls out a major update | Daily News Recap

Today’s CPI coming in below expectations definitely helps the liquidity narrative. Softer inflation reduces pressure on yields and gives the market room to price in a more dovish path. That’s supportive for risk assets, especially long-duration tech. That said, one print doesn’t make a full pivot. Markets usually need a trend of cooling data before calling it a true liquidity turn. It’s a positive start, but confirmation still matters.

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SG#HUAHORP2812P(56562.HK)

Shanghai & Shenzhen Markets Open 0.5%0.9% Lower; Chip-Related Stocks Weak

STOCKS | Southbound Funds Record Net Purchase of 790 Million Yuan

Hong Kong Stocks Close Lower as Tech Sector Declines

Pre-market trend | NSING TECH (2701.HK) 5/11 Semiconductor boom surges, funds accelerate layout?

STOCKS | Hong Kong Stock Market Opens Lower as Tech Stocks Show Mixed Performance