HSHUAHO@EP2611A

CHINA OIL & GAS

PETRO-KING

DZUG

CHK OIL

MANY IDEA CLOUD

HAO TIAN INTL

JY GAS

COSCO SHIP DEV

GLOBAL UIN

BG BLUE SKY

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The three major A-share indices fell in the first half of the day, with the Shanghai Composite Index down 0.2%, the Shenzhen Component Index down 0.7%, and the ChiNext Index down 1.5%. Domestic property stocks generally weakened, with leading stock Vanke down 0.4%. SMIC and Hua Hong fell by 1.4% and 2.5%, respectively. To support enterprises in managing exchange rate risks, the People's Bank of China has lowered the foreign exchange risk reserve ratio for forward foreign exchange sales to zero, causing the offshore RMB to quickly depreciate against the US dollar. There are no reverse repos maturing today, with a net injection of 269 billion yuan for the day

AASTOCKS

Hua Hong

SMIC

HUA HONG SEMI

Vanke

CHINA VANKE

Hwabao WP CSI 800 Real Estate ETF

China Southern CSI All Share Real Estate ETF

ChinaAMC CSI All Share Real Estate ETF

Yinhua CSI Interior Real Estate Theme ETF

The three major A-share indices of Shanghai and Shenzhen fell in the first half of the day, with the ChiNext dropping 1.5%. Domestic property stocks weakened, and SMIC and Hua Hong showed a bearish trend

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The three major A-share indices opened lower, with the Shanghai Composite Index down 0.4%, the Shenzhen Component Index down 0.9%, and the ChiNext Index down 1.2%. Lithium mining stocks and chip stocks generally retreated, with Ganfeng Lithium and TIANQI LITHIUM opening down 2% and 2.1%, respectively. SMIC and Hua Hong opened down 1.4% and 1.8%. AI chip stock Cambricon opened down 2%. The central parity rate of the RMB against the USD remained unchanged, and the People's Bank of China lowered the foreign exchange risk reserve ratio to zero

TIANQI LITHIUM

Cambricon

Guotai CSI All Share Integrated Circuit ETF

GANFENGLITHIUM

ChinaAMC Guozheng Semiconductor Chip ETF

Ganfeng Lithium

The three major A-share indices of Shanghai and Shenzhen opened lower by 0.4% to 1.2%, with lithium and chip-related stocks retreating

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Pharmaceutical stocks fell sharply, with WUXI XDC down about 9% and BEONE MEDICINES down about 9%. Technology stocks and automotive stocks also declined, with Bilibili down about 5% and XPeng down about 5%. Semiconductor stocks fell, with HUA HONG SEMI down about 5%

Wallstreetcn

WUXI XDC

XPeng

BeOne Medicines

CATL

BEONE MEDICINES

The Hang Seng Index closed down 1.44%, the Hang Seng Tech Index fell 2.87%, and CATL dropped about 6%

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With the support of the Chinese government, top chip manufacturers such as SMIC and Hua Hong Semiconductor are striving to double the production of advanced semiconductors to meet the demand for artificial intelligence. The goal is to increase the production of 7-nanometer and 5-nanometer chips from less than 20,000 to 100,000 within one to two years, and to plan for an additional increase of 500,000 chips by 2030. However, U.S. export controls may affect the realization of this production increase target

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

GTJA Allianz SSE STAR Chip Design Thematic ETF

Guotai CES Semiconductor Chip Industry ETF

China aims to double advanced chip production capacity, with SMIC and Hua Hong leading the way to meet AI computing demands

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STECH

36Kr learned that the Hang Seng TECH Index's intraday increase expanded to 1%, XPeng rose over 3%, and HUA HONG SEMI rose by 2%

36Kr

CSOP HS TECH

HSTECH ETF

Hang Seng TECH Index

XPENG-W

The Hang Seng TECH Index intraday increase expanded to 1%

Hua Hong Semiconductor (SEHK:1347) reported a return to profitability in Q4 2025 and provided revenue guidance for Q1 2026, leading to a 4.51% share price increase in one day and a 37.91% rise over 90 days. Despite a 137.39% total shareholder return over the past year, analysts consider the stock overvalued at HK$98.4, with a fair value estimate of HK$75.92. Analysts have raised their price target by HK$2, citing stronger revenue growth from AI applications, though profit margins may face pressure. Investors are encouraged to assess the stock's valuation and risks.

Simplywall

A Look At Hua Hong Semiconductor (SEHK:1347) Valuation After Q4 Profit Return And New Revenue Guidance

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KNOWLEDGE ATLAS(02513) rose 42.72%, with a trading turnover 3.2 Billion HKD, and a year-to-date rose 523.9%. MINIMAX-WP(00100) rose 14.52%, with a trading turnover 3.5 Billion HKD, and a year-to-date rose 487.9%. JD HEALTH(06618) fell 6.27%, with a trading turnover 341.2 Million HKD, and a year-to-date rose 2.4%. BIDU-SW(09888) fell 6.25%, with a trading turnover 2.5 Billion HKD, and a year-to-date fell 1.9%.

- The Hang Seng Index fell by 1.1%, with a year-to-date increase of 3.1%, while the Hang Seng Tech Index decreased by 2.91% and is down 5.5% year-to-date.  
- Notable stocks include Zhizhi (02513), which rose by 42.72% with a turnover of 3.24 billion HKD, and MINIMAX-WP (00100), which gained 14.52% with a turnover of 3.53 billion HKD.  
- Conversely, JD Health (06618) and Baidu-SW (09888) declined by 6.27% and 6.25%, respectively, with year-to-date performances of 2.4% and -1.9%.

Top Gainers & Losers

KNOWLEDGE ATLAS

MINIMAX-WP

CHINA RAILWAY

SANHUA

JD HEALTH

BIDU-SW

TME-SW

CTG DUTY-FREE

Top 5 HK Stock Gainers/Losers (>100B) (2.20)

CMB International raised the target price of HUA HONG SEMI to 80 yuan, maintaining a "Hold" rating. Although HUA HONG's product mix and scale continue to improve, with fourth-quarter revenue increasing by 22.4% year-on-year, setting a quarterly record, net profit decreased by 53.4% quarter-on-quarter due to rising labor costs. Full-year revenue for 2025 is expected to grow by 20% to 2.4 billion USD, with gross margin in line with expectations. Management expects first-quarter revenue for 2026 to be between 650 million and 660 million USD

CITIC International raised the target price of Hua Hong Semiconductor to 80 yuan, with a high valuation rating of "Hold."

DBS Group raised the target price of Hua Hong Semiconductor to 88 yuan, maintaining a "Hold" rating. Hua Hong's revenue reached a record high in the fourth quarter of last year, increasing by 22.4% year-on-year to 660 million USD, benefiting from the recovery of domestic demand and the increase in AI application demand. It is expected that U.S. export controls will accelerate the improvement of China's integrated circuit self-sufficiency rate, rising from 18.3% in 2022 to approximately 26.6% by 2027

DBS Bank raised Hua Hong's target price to 88 yuan and maintained a "Hold" rating

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Hong Kong's semiconductor sector experienced a downturn as several key stocks saw significant declines. According to Jin10, TianShu Intelligenceand HongGuang Semiconductorboth fell over 5%, while Hua Hong Semiconductordropped 4.8%. Additionally, NaXin Microelectronicsand Semiconductor Manufacturing International Corporationdecreased by more than 2%. The market sentiment reflects broader concerns impacting the semiconductor industry.

CoinLive

HG SEMI

STOCKS | Hong Kong Semiconductor Stocks Decline Amid Market Weakness

Goldman Sachs analyst Allen Chang has maintained a Buy rating on Hua Hong Semiconductor Ltd. (1347) as of February 13, with a price target of HK$134.00. The stock closed at HK$98.75. Chang, a 4-star analyst, has an average return of 15.0% and a success rate of 55.38%. The consensus for Hua Hong Semiconductor Ltd. is a Moderate Buy, with a price target consensus of HK$102.32.

Tip Ranks

New Buy Rating for Hua Hong Semiconductor Ltd. (1347), the Technology Giant

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Huatai Securities released a research report, pointing out that Hua Hong Semiconductor is entering a fast growth lane due to price increases and capacity expansion. It is expected that sales revenue will reach USD 659.9 million in the fourth quarter of 2025, a year-on-year increase of 22.4%. The gross profit margin is 13%, in line with guidance. The sales revenue guidance for the first quarter of 2026 remains at USD 650 million to USD 660 million, with a gross profit margin between 13% and 15%. The firm raised the target price slightly from HKD 120 to HKD 121, maintaining a "Buy" rating

Guotai CSI Semiconductor Material Equipment Theme ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

Huatai Securities: HUA HONG's price increase and capacity expansion drive growth into the fast lane, target price slightly raised to 121 yuan

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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Market Shocks: AI, Cisco, Rates

AI remains a long term bull but near term earnings uncertainty is fueling and sharper pullbacks rather than a straight line rallyMargins are key now expect short term volatility and selective dipsFocus on profitable AI infra, energy and select financials

We are indeed entering an 'AI volatility phase,' rather than a pure AI bull market. This perspective is the right mindset.

with rate cuts potentially delayed to July, the bank stocks have been granted a reprieve from the net interest margin compression concern.

AI's disruptions are now spreading into more bread and butter, brick and mortar sectors. Hopefully this will strengthen the AI companies, and eventually, the whole US economy, benefiting all.

2026 Resolution-Trade like professional . Do not FOMO. Keep more cash.

Fattycat

BABA Return Rate

BABA Diamond Holder

Markets are overvalued and needs a breather so whatever the narrative is, it looks like a pullback is due.

Crypto winter is coming, everyone get ready and follow the trend. Do not fight the market!

Best hedge against everything, be it weak data, volatility, or market movement, is still precious metals!

Volatility is here to stay. Look towards other economies instead, like emerging market!

The recent job numbers are excellent! Things will only get better from here! Have faith in the economy!

HSHUAHO@EP2611A(25502.HK)

The three major A-share indices of Shanghai and Shenzhen fell in the first half of the day, with the ChiNext dropping 1.5%. Domestic property stocks weakened, and SMIC and Hua Hong showed a bearish trend

The three major A-share indices of Shanghai and Shenzhen opened lower by 0.4% to 1.2%, with lithium and chip-related stocks retreating

The Hang Seng Index closed down 1.44%, the Hang Seng Tech Index fell 2.87%, and CATL dropped about 6%

China aims to double advanced chip production capacity, with SMIC and Hua Hong leading the way to meet AI computing demands

The Hang Seng TECH Index intraday increase expanded to 1%