BUZZ-Hong Kong-listed InnoScience hits two-week high on onsemi tie-up
InnoScience (Suzhou) Technology's shares surged 6.5% to HK$78.15, marking a two-week high, following a strategic cooperation agreement with onsemi. The partnership aims to accelerate GaN industry applications, integrating InnoScience's manufacturing with onsemi's system packaging expertise. This deal is expected to generate significant GaN sales and provide a market advantage. Year-to-date, InnoScience's stock has risen 140.6%, outperforming the Hang Seng TECH Index's 23.6% increase.
Shares of InnoScience (Suzhou) Technology (2577.HK) jump 6.5% to HK$78.15, their highest level since November 20
Stock on course for the biggest one-day pct rise since October 27
China-based gallium nitride on silicon (GaN-on-Si) semiconductor product producer announced strategic cooperaton agreement with onsemi (ON.O) to jointly accelerate application and deployment of the GaN industry
InnoScience’s GaN manufacturing capabilities will be integrated with onsemi’s experience in system packaging and integration, to accelerate implementation of GaN in new energy vehicles, artificial intelligence, data centres and industry - InnoScience
InnoScience expects the deal to bring hundreds of millions of US dollars in GaN sales in coming years to the company while providing a first-mover advantage for both parties in market development and deployment in key areas - InnoScience
YTD, InnoScience stock up 140.6%, Hang Seng TECH Index (.HSTECH) up 23.6%
