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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

JOLIMARK

PANGAEA CONNECT

WEILI HOLDINGS

MAN YUE TECH

SMIT

BJ DIGITAL

FY FINANCIAL

NEW GONOW RV

RADIANCE HLDGS

PERFECTECH INTL

00100

03750

06613

01347

02513

02050

01810

00358

02600

09868

MINIMAX-W(00100) rose 10.53%, with a trading turnover 2.8 Billion HKD, and a year-to-date rose 415.2%. CATL(03750) rose 6.38%, with a trading turnover 4.4 Billion HKD, and a year-to-date rose 40.7%. SANHUA(02050) fell 4.89%, with a trading turnover 594.3 Million HKD, and a year-to-date fell 9.7%. XIAOMI-W(01810) fell 4.57%, with a trading turnover 8.3 Billion HKD, and a year-to-date fell 27.7%.

- The Hang Seng Index fell by 1.06%, with a year-to-date decline of 1.2%, while the Hang Seng Tech Index decreased by 0.79% and is down 11% for the year.  
- MINIMAX-W (00100) rose by 10.53% with a trading volume of HKD 2.76 billion, marking a significant year-to-date increase of 415.2%.  
- Additionally, CATL (03750) increased by 6.38%, while SMC (02050) and Xiaomi Group (01810) dropped by 4.89% and 4.57%, respectively, with respective year-to-date declines of 9.7% and 27.7%.

Top Gainers&Losers

MINIMAX-W

CATL

Lens

HUA HONG SEMI

KNOWLEDGE ATLAS

SANHUA

XIAOMI-W

JIANGXI COPPER

CHALCO

XPENG-W

Top 5 HK Stock Gainers/Losers (>100B) (5.27)

688347

SMIC and HUA HONG SEMI saw stock increases of 3% and 7%, respectively, following CLSA's report on Huawei's new semiconductor principle, 'Tao's Law.' This principle aims to enhance chip performance by improving transistor density. CLSA identifies SMIC and HUA HONG SEMI as potential beneficiaries of this development, which could accelerate China's semiconductor industry growth.

AASTOCKS News

Hua Hong

SMIC

JCET

NAURA

AMEC

SMIC HK SDR 5to1

SMIC  and HUA HONG SEMI Gain 3% and 7%; CLSA Says Potential Beneficiaries of Huawei's "Tao's Law"

00992

159131

As of May 27, 2026, the Hwabao (159131) Hong Kong Stock Connect Information Technology ETF rose by 1.89%, with the latest price reported at 1.079 yuan, and a scale of 1.19 billion yuan, with 1.126 billion shares. This ETF closely tracks the Hong Kong Stock Connect Information C Index, with the top ten weighted stocks including Semiconductor Manufacturing International Corporation and LENOVO GROUP. Recent net inflow of funds reached 313 million yuan, indicating strong market demand

同壁财经

LENOVO GROUP

Hwabao WP CSI HK Connect Information Technology Composite ETF

KB LAMINATES

ASMPT

SENSETIME-W

KINGDEE INT'L

SUNNY OPTICAL

UBTECH ROBOTICS

KINGBOARD HLDG

LENOVO GROUP-R

Lenovo Group

SENSETIME-WR

Xiaomi Corporation

XIAOMI-WR

Xiaomi HK SDR 2to1

Explosive growth! "SMIC + Hua Hong" weights over 23%, the largest Hong Kong Stock Connect Information Technology ETF Hwabao (159131) surged over 2%, with funds rapidly subscribing 194 million shares!

601600

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

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%

LNVGY

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.

Hang Seng Index

Hang Seng TECH Index

Hang Seng China Enterprises Index

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

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

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%.

CMOC

EASTROC

YOFC

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

00522

603986

06809

688981

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)

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