UB#HUAHORC2611C

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

RONGZUN INT’L H

ASIA PIONEER

160 HEALTH

VC HOLDINGS

CENTRALCHINA MT

ASTRUM

HENGDELI

HAITIAN ANTENNA

CN CULTURE GP

TOMO HOLDINGS

00650

00100

01384

01347

02579

01072

09903

01609

09696

02465

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

HUA HONG SEMI

CNGR

DONGFANG ELEC

ILUVATAR COREX

STAR SPORTS MED

TIANQI LITHIUM

LOPAL TECH

Top 10 HK Stock Losers (5.8)

03296

01024

01208

09888

06869

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

BIDU-SW

YOFC

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

02824

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

MEITUAN

NVIDIA

Corning

POP MART

SMIC

Montage Technology

GIGADEVICE

HTSC

ZIJIN GOLD INTL

ZIJIN MINING

Zijin Mining

CMOC

Drinda

MEITU

XL2CSOPHYNIX

Tencent

TENCENT-R

Tencent HK SDR 10to1

Tencent Holdings Limited

Alibaba

BABA-WR

Alibaba HK SDR 5to1

MEITUAN-WR

Meituan

Meituan HK SDR 5to1

Hua Hong

NVIDIA Corporation

POP MART HK SDR 20to1

KUAISHOU-WR

SMIC HK SDR 5to1

MONTAGE TECH

Huatai Securities Co., Ltd. GDR Class A RegS

BIDU-SWR

Baidu

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

688347

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.

AASTOCKS News

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

01357

09992

159516

588170

159546

During intraday trading on May 8, Hong Kong's three major indices fluctuated lower, with both the Hang Seng Index and the Hang Seng Tech Index falling more than 1%. Affected by the sharp drop in US chip stocks overnight and geopolitical risks, Hong Kong's semiconductor sector plunged collectively, with HUA HONG SEMI and SMIC seeing significant declines. Meanwhile, market funds showed a clear shift from high to low valuations and structural gaming. AI application concept stocks performed actively, with MEITU surging more than 14%; toy trend leader POP MART rose more than 5% against the trend, driven by position adjustments by well-known investors, with extremely active trading

- On May 8, Hong Kong's major stock indices experienced declines, with the Hang Seng Index reflecting overall weakness.  
- Semiconductor stocks were heavily impacted following a drop in the Philadelphia semiconductor index and concerns over AI chip supply, while companies like Meitu and Pop Mart saw significant gains.  
- The lithium battery sector also faced downward pressure, with notable drops from Tianqi Lithium and Ganfeng Lithium, despite Xiaomi's stock rising amid strong profit expectations.

Guotai CSI Semiconductor Material Equipment Theme ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

Guotai CSI All Share Integrated Circuit ETF

XL2CSOPSMSN

Sandisk

CHINA SHENHUA

CSEC/China Shenhua

XUNCE

MARKETINGFORCE

Deutsche Bank AG

GANFENGLITHIUM

Ganfeng Lithium

CATL

XIAOMI-W

Goldman Sachs

HSBC HOLDINGS

HSBC

Sandisk - WI

Deutsche Bank AG Subscription Rights

Deutsche Postbank AG

CATL HK SDR 30to1

Xiaomi Corporation

XIAOMI-WR

Xiaomi HK SDR 2to1

GS Hldg R

HSBC 5xShortSG241213

HSBC Holdings Plc

Hong Kong Stocks Intraday | Three Major Indices Fluctuate and Weaken, Semiconductor Sector Plunges, AI Applications and POP MART Buck the Trend

The HSI closed up 412 points at 26,626, reflecting a positive trend in Hong Kong equities, driven by gains in major stocks like KUAISHOU-W and HUA HONG SEMI. The market turnover reached HKD312.489 billion. Notable performers included JOHNSON ELEC H, which soared 20%, and TECHTRONIC IND, gaining 10.3% after a target price increase by JPM. Overall, the market showed strong performance across various sectors, including technology and automotive stocks, amidst favorable external market conditions.

HSI Closes Up 412 pts; KUAISHOU-W, HUA HONG SEMI Surge; JOHNSON ELEC H Soars 20%

06082

06809

00669

00087

00857

01171

00883

01898

01088

BIREN TECH(06082) rose 14.8%, with a trading turnover 1.0 Billion HKD, and a year-to-date rose 198.7%. MONTAGE TECH(06809) rose 11.19%, with a trading turnover 1.7 Billion HKD, and a year-to-date rose 234.5%. PETROCHINA(00857) fell 8.48%, with a trading turnover 3.4 Billion HKD, and a year-to-date rose 27.6%. YANKUANG ENERGY(01171) fell 6.73%, with a trading turnover 974.1 Million HKD, and a year-to-date rose 52.8%.

BIREN TECH

TECHTRONIC IND

SWIRE PACIFIC B

PETROCHINA

YANKUANG ENERGY

CNOOC

CHINA COAL

Top 5 HK Stock Gainers/Losers (>100B) (5.7)

STECH

00HSI

The HSI rose 410 points to 26,623 at midday, driven by positive US market performance and strong earnings from AMD boosting chip stocks. The HSTECH gained 3.1%, with notable surges in KUAISHOU-W and HUA HONG SEMI, both up over 7%. Major stocks like TENCENT and BABA-W also saw gains, while turnover reached HKD165.774 billion. The overall market sentiment remains optimistic amid potential peace talks between the US and Iran.

Hang Seng TECH Index

Hang Seng Index

HSI Up 410 pts at Half Day; HSTECH Gains 3%; KUAISHOU-W  and HUA HONG SEMI Surge Over 7%

SOXL

CLSA has reaffirmed its High-Conviction Outperform rating on LQKJand Outperform ratings on GIGADEVICE, SMIC, and HUA HONG SEMI. The report includes target prices for these stocks: LQKJ at RMB209.6, GIGADEVICE at RMB399.5, SMIC at RMB152, and HUA HONG at RMB177.5 for A shares, with respective performances noted. Short selling data indicates significant activity in SMIC and HUA HONG SEMI.

Direxion Semicon Bull 3X

CLSA's Ratings and TPs for CN Semis (Table)

UB#HUAHORC2611C(55843.HK)