Semiconductors

INNOSCIENCE

CITIC 里昂 maintains 'Outperform' rating on Innosilicon citing 800V progress and ITC litigation win

BofA Reaffirms Buy Rating on Innoscience with $92 Target, Citing GaN Demand Surge

Innoscience Successfully Expands GaN Applications, Achieving Industry Transformation

Innosemi Releases 2025 ESG Report

Ennosemi Expands GaN Power Semiconductor Market and Manufacturing Capacity

BofA Securities Reiterates Buy Rating on InnoGaN, but Cuts Target Price to $9.2

Innosemi Releases Annual Performance Report

Innosemi Announces 2025 Annual Report, Revenue Up 46.3%, Gross Margin Turned Positive

INNOSCIENCE released FY2025 Q3 earnings on March 27 (BJT), actual revenue HKD 360.7 M, actual EPS HKD -0.2523

INNOSCIENCE released FY2025 9 Months Earnings on March 27, 2026 (BJT) with actual revenue of HKD 959.84M and EPS of HKD -0.7858

INNOSCIENCE released FY2025 earnings on March 27 During-Market (BJT), actual revenue HKD 1.326 B (forecast HKD 1.496 B), actual EPS HKD -1.0427 (forecast HKD -0.9739)

INNOSCIENCE released FY2025 Q4 earnings on March 27 During-Market (BJT), actual revenue HKD 366.93 M, actual EPS HKD -0.2545

INNOSCIENCE to Release FY2025 Earnings on March 27 During-Market (BJT), Forecast Revenue HKD 1.533 B, EPS HKD -0.9981

INNOSemi Increases Registered Capital to 4.4 billion RMB

Innosemi Depicts Its Strategic Vision Through Internal Lock-up and Share Repurchase

Three Shareholders of Innosemi Reduce Their Shareholding Proportions Significantly

CLSA Reiterates Innosemi 'Outperform' Rating with Target Price of HKD 113.6

Innosemi Trustee Buys Over 1 Million Shares and Chairman Locks Shares

Innosemi Chairman Pledges Not to Reduce 154.7 Million Shares for 12 Months

HINSANG GROUP

RIVERINE CHINA

PASHUN INT RTS

BRAINAURORA-B

SOFTMEDX

GOLDENPOWER

ZHONGKE GROUP

VISION SYNERGY

GEMILANG INTL

GHPC

03336

07666

08299

02565

03317

02513

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JU TENG INTL(03336) fell 25.93%, with a trading turnover 184.1 Million HKD, and a year-to-date rose 40.2%. METIS TECHBIO-P(07666) fell 14.13%, with a trading turnover 177.5 Million HKD, and a year-to-date rose 91%. GT GOLD(08299) fell 11%, with a trading turnover 24.9 Million HKD, and a year-to-date fell 12.7%.

Top Gainers&Losers

JU TENG INTL

METIS TECHBIO-P

GT GOLD

PEGBIO CO-B

XUNCE

KNOWLEDGE ATLAS

XIZHI TECH-P

ANDRE JUICE

MOKINGRAN

Top 10 HK Stock Losers (5.19)

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01347

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Hong Kong chip stocks exhibited varied performances today. According to Jin10, Gigadevice Semiconductorsaw a significant increase of over 9%, while Montage Technologyrose by more than 3%. Other companies like Hua Hong Semiconductoralso experienced gains. In contrast, Innosecfell by over 5%, and TianShu ZhiXindeclined by nearly 2%.

CoinLive

GIGADEVICE

HUA HONG SEMI

ILUVATAR COREX

MONTAGE TECH

Montage Technology

Hua Hong

Hong Kong Chip Stocks Show Mixed Performance

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02940

02225

06869

02635

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02631

PEGBIO CO-B(02565) fell 18.5%, with a trading turnover 104.2 Million HKD, and a year-to-date fell 83.8%. WELLCELL HOLD(02477) fell 15.3%, with a trading turnover 362.7 Million HKD, and a year-to-date rose 38.8%. WELLCELL HOLD(02940) fell 14.83%, with a trading turnover 61.4 Million HKD, and a year-to-date rose 40.6%.

WELLCELL HOLD

JINHAI MED TECH

YOFC

NUOBIKAN

EPIWORLD

SICC

Top 10 HK Stock Losers (5.15)

INNOSCIENCE fell 10.67%; Semiconductor Manufacturing International Corporation (SMIC) fell 0.14%, with a transaction volume of HKD 10.2 billion; Hua Hong Semiconductor fell 8.82%, with a transaction volume of HKD 5.756 billion; Montage Technology fell 11.15%, with a transaction volume of HKD 2.397 billion; GigaDevice fell 2.00%, with a market value of HKD 360.4 billion

HK Stock Alerts

SMIC

Hong Kong stock movement: INNOSCIENCE fell 10.67%, hit by dual blows from patent litigation shadows and a reversal in market sentiment

INNOSCIENCEopened 3.89% higher but dropped nearly 8% to HKD79.35. CLSA reiterated an Outperform rating, citing steady progress in its 800V DC server business and collaboration with AI chip platforms. Despite a patent lawsuit, INNOSCIENCE prevailed in most claims, with no significant impact on current sales. CLSA forecasts revenue growth from RMB1.213 billion in 2025 to RMB7.655 billion in 2028, while lowering earnings estimates for 2027 and 2028 by 5%.

AASTOCKS News

Infineon Technologies AG

Infineon Technologies

INNOSCIENCE  Opens Higher but Reverses to Drop Nearly 8%; CLSA Reiterates Outperform on Smooth Data Center Business Progress

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Yesterday, MEGAIN Holdings triggered a golden cross signal on the daily MACD zero axis in the Hong Kong stock market, with a trading volume of approximately HKD 28.08 million, which is considered a significant increase for this small-cap semiconductor company. The MACD golden cross appeared above the zero axis, which is usually seen as a trend reinforcement signal in a medium-term bullish pattern, indicating that phase buying is actively intervening. The recent stock price trend shows a gradual rise in the bottom, and the moving averages are beginning to show the early signs of a bullish arrangement, with a short-term bullish atmosphere heating up. On the news front, the semiconductor sector has recently been one of the most active themes in the Hong Kong stock market. The explosive demand for global AI hardware is driving the chip supply chain's prosperity, with hedge funds achieving their best performance in nearly two decades by heavily investing in the AI supply chain and memory chips. In the Hong Kong stock semiconductor sector, TianYue Advanced rose over 18% in a single day, and INNOSCIENCE increased by 3%, with the sector's profit effect spreading to small and mid-cap stocks. Data from the Ministry of Commerce shows that integrated circuit trade has significantly increased in the first four months, and the logic of domestic substitution continues to ferment, attracting more capital attention to semiconductor sub-sector targets. From a technical perspective, MEGAIN Holdings, as a small-cap stock, has relatively limited liquidity, and the sustainability of trading volume is key to judging the effectiveness of bullish signals. If the current volume level can be maintained in subsequent trading days and continue to close with positive candlesticks, the short-term trend is expected to continue. The performance of sector leaders has a strong reflective effect on it, so attention should be paid to the directional guidance of heavyweight stocks such as SMIC and HUA HONG SEMI. The short-term trend is biased towards bullish, but small-cap stocks have high volatility and limited liquidity, so the risks of chasing prices need to be taken seriously

Technical Forecast

MEGAIN

SMIC HK SDR 5to1

Pre-market trend | MEGAIN Holdings (6939.HK) 5/14 Bullish momentum gathers, should we pay attention to the unusual movements of small-cap semiconductor stocks?

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Yesterday, EPIWORLD triggered a golden cross signal on the daily MACD zero axis in the Hong Kong stock market, with a trading volume of approximately HKD 95.78 million, indicating an increase in capital activity. As a specialized manufacturer in the field of silicon carbide (SiC) epitaxial wafers, EPIWORLD's recent performance has gradually emerged from the bottom range, with bullish momentum beginning to accumulate. A golden cross forming above the zero axis on the MACD is typically seen as a confirmation signal of a mid-term trend shifting from weak to strong, suggesting that buying power is currently dominating the market rhythm. Although the trading volume is not as high as that of large-cap blue chips, it is considered active for a company of this market capitalization, reflecting that some funds are actively positioning themselves. On the news front, the semiconductor materials sector continues to be catalyzed by both policy and industry factors. The latest data from the Ministry of Commerce shows a significant increase in integrated circuit trade in the first four months, with improved industry chain prosperity driving demand for upstream materials. Recently, SICC surged 18% in the Hong Kong stock market, and INNOSCIENCE rose over 3%, indicating a strengthening trend in the third-generation semiconductor sector. EPIWORLD, as a core target for silicon carbide epitaxial wafers, is expected to benefit from the sector rotation effect. The strong global demand for AI hardware is driving a continuous shortage of upstream semiconductor equipment and materials, providing support for the company's fundamentals. From a technical perspective, EPIWORLD's trading volume has gradually rebounded recently, indicating that external funds are entering the market in batches. Currently, attention should be paid to whether the stock price can maintain the upward volume trend and break through the upper boundary of the recent fluctuation range. If the trading volume can consistently stay above HKD 80 million, the probability of continued bullishness will increase. The performance of SICC and INNOSCIENCE within the sector will serve as a reference, and the overall sentiment in the semiconductor sector is an important variable

Guotai CSI All Share Integrated Circuit ETF

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

ChinaAMC CSI Semiconductor Material & Equipment Thematic ETF

GF Fund CSI Semiconductor Material Equipment Theme ETF

Guotai CSI Semiconductor Material Equipment Theme ETF

First Trust Nasdaq Food & Semicon

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

Guotai CES Semiconductor Chip Industry ETF

Pre-market trend | EPIWORLD (2726.HK) 5/14 Bullish signals emerge, is the third-generation semiconductor poised for takeoff?

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KNOWLEDGE ATLAS(02513) rose 36.9%, with a trading turnover 3.6 Billion HKD, and a year-to-date rose 889.7%. HANS CNC(03200) rose 30.91%, with a trading turnover 1.2 Billion HKD, and a year-to-date rose 94.5%. XUNCE(03317) rose 23.88%, with a trading turnover 2.0 Billion HKD, and a year-to-date rose 460.8%.

HANS CNC

ASIA TELE-NET

BWI INT'L

MINIMAX-W

TIMES ELECTRIC

ZHIDA TECH

Top 10 HK Stock Gainers (5.13)

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588780

On the afternoon of May 13th, the Hong Kong stock market fluctuated within a narrow range, with the Hang Seng Technology Index slightly rising. AI concept stocks and power semiconductors performed well, with KNOWLEDGE ATLAS rising nearly 14% and INNOSCIENCE rising over 17%. The internet platform sector was supported by positive performance, with both JD and Meituan rising. On the other hand, the automotive and lithium battery industry chain corrected, with Geely Automobile falling nearly 6%. The market is focused on the improvement of AI computing power and industry competition landscape

- On May 13, Hong Kong's major indices experience narrow fluctuations, with notable movements in AI and power semiconductor sectors.  
- AI-related stocks see significant gains, with companies like Zhiyin and Innosilicon rising sharply, while the automotive sector declines, highlighted by Geely's nearly 6% drop.  
- Market activity remains strong, driven by earnings reports from JD.com and Meituan, both benefiting from improved operational metrics and reduced competition in the delivery sector.

Market Pulse

JD-SW

GTJA Allianz SSE STAR Chip Design Thematic ETF

TRACKER FUND

HSCEI ETF

CSOP HS TECH

TENCENT

MEITUAN

GEELY AUTO

GANFENGLITHIUM

NVIDIA

Citigroup

FIT HON TENG

JPMorgan Chase

UBS Group AG

BYD COMPANY

POP MART

BABA-W

Alibaba

XL2CSOPHYNIX

Tencent

TENCENT-R

Tencent HK SDR 10to1

Tencent Holdings Limited

JD-SWR

JD.com

MEITUAN-WR

Meituan

Meituan HK SDR 5to1

GEELY AUTO-R

GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

Geely Auto

Ganfeng Lithium

Han's CNC

NVIDIA Corporation

CITIGROUP INC 6.250 NON CUM SER II PFD WI

Times Electric

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

BYD HK SDR 10to1

BYD Company

BYD Company Limited

BYD COMPANY-R

POP MART HK SDR 20to1

BABA-WR

Alibaba HK SDR 5to1

Hong Kong stocks intraday | The three major indices fluctuate and diverge, AI concepts and power semiconductors strengthen, JD and Meituan rise after earnings

INNOSCIENCE rose 10.20%; Semiconductor Manufacturing International Corporation (SMIC) fell 3.07%, with a transaction volume of HKD 3.22 billion; Hua Hong Semiconductor fell 1.24%, with a transaction volume of HKD 2.263 billion; Montage Technology rose 6.25%, with a transaction volume of HKD 935 million; Zhaoyi Innovation rose 1.58%, with a market capitalization of HKD 359.3 billion

Hong Kong Stock Movement: INNOSCIENCE rises 10.20%, patent ruling and large transactions boost market confidence

INNOSCIENCE(02577.HK)