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Chinese semiconductor firms have achieved record revenues, driven by strong domestic AI demand and U.S. export restrictions. Companies like SMIC and Hua Hong reported significant revenue increases, with expectations for continued growth. The U.S. curbs have accelerated China's push for tech self-sufficiency, leading to increased demand for domestic alternatives. However, Chinese firms still lag in technological capabilities compared to global leaders like TSMC. Despite challenges, the sector is capitalizing on high demand for memory chips and AI infrastructure, indicating a robust growth trajectory for the industry.

- Chinese semiconductor firms achieved record revenues in 2025, driven by AI demand, memory chip shortages, and U.S. export restrictions.  
- Analysts predict continued growth, with major players like Semiconductor Manufacturing International Co. (SMIC) and ChangXin Memory Technologies (CXMT) reporting significant increases in revenue.  
- Despite this success, Chinese companies face challenges in technological capability and access to advanced manufacturing tools, impacting their ability to compete with leading global firms.

CNBC

SMIC

Hua Hong

HUA HONG SEMI

Taiwan Semiconductor

Invesco Semiconductors ETF

Harvest SSE STAR Chip ETF

GraniteShares 2x Long TSM Daily ETF

E Fund CSI Semiconductor Material & Equipment Thematic ETF

VanEck Semiconductor ETF

ChinaAMC CSI Semiconductor Material & Equipment Thematic ETF

First Trust Nasdaq Food & Semicon

Direxion Semicon Bull 3X

SPDR S&P Semicon

Guotai CSI All Share Integrated Circuit ETF

ICBCCS CNI HK Connect Technology ETF

China Merchants CSI Semiconductor Industry ETF

GTJA Allianz SSE STAR Chip Design Thematic ETF

ChinaAMC Guozheng Semiconductor Chip ETF

GX CN SEMICON

iShares Semiconductor ETF

Guotai CSI Semiconductor Material Equipment Theme ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

Guotai CES Semiconductor Chip Industry ETF

Harvest CSI All Share Integrated Circuit ETF

Rayliant-ChinaAMC Trnsfrmtv Chn Tech ETF

GF Fund CSI Semiconductor Material Equipment Theme ETF

GX CN SEMICON-U

Leverage Shares 2X Long TSM Daily ETF

Direxion Daily TSM Bull 2X Shares

Chinese chip firms hit record high revenue driven by the AI boom and U.S. curbs

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CHERY AUTO(09973) rose 15.26%, with a trading turnover 774.0 Million HKD, and a year-to-date rose 3.8%. GEELY AUTO(00175) rose 8.37%, with a trading turnover 4.4 Billion HKD, and a year-to-date rose 33.1%. KNOWLEDGE ATLAS(02513) fell 14.86%, with a trading turnover 2.5 Billion HKD, and a year-to-date rose 570.4%. MINIMAX-W(00100) fell 10.42%, with a trading turnover 1.3 Billion HKD, and a year-to-date rose 475.5%.

- The Hang Seng Index dropped by 0.7% and has fallen 2% year-to-date, while the Hang Seng Tech Index fell by 1.63% with a year-to-date decline of 15.2%.  
- Chery Automobile (09973) rose by 15.26%, with a trading volume of 770 million HKD, marking a 3.8% increase for the year.  
- Geely Automobile (00175) increased by 8.37%, with a trading volume of 4.37 billion HKD, showing a year-to-date gain of 33.1%.

Top Gainers & Losers

CHERY AUTO

GEELY AUTO

GWMOTOR

HANSOH PHARMA

GANFENGLITHIUM

KNOWLEDGE ATLAS

MINIMAX-W

EASTROC

GIGADEVICE

Top 5 HK Stock Gainers/Losers (>100B) (4.2)

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On April 2nd, Hong Kong stocks fluctuated lower, with the Hang Seng Index closing down 0.7% and the Hang Seng TECH Index falling 1.63%. Major technology stocks generally declined, while the automotive sector performed strongly, with Chery Automobile rising over 15%. Several new energy vehicle companies reported a rebound in delivery data, with Leapmotor, Li Auto, and Nio all achieving significant growth. The oil and petrochemical sector also showed strong performance. In terms of individual stocks, Brain Co. B rose over 14%, and Yangtze Optical Fibre and Cable rose nearly 8%

腾讯新闻 - 财经

Hwabao WP CSI Intelligent Electric Vehicle ETF

HSTECH ETF

CSOP HS TECH

Global X Autonomous & Electric V

Hang Seng TECH Index

ISHARESHSTECH

HASCO

LEAPMOTOR

Hua Xia CSI New Energy Vehicles ETF

NIO Inc. USD OV

LI AUTO-W

NIO-SW

NIO Inc

The Hang Seng TECH Index fell by 1.63%, while the automotive sector strengthened | Hong Kong stock market closing review

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The three major A-share indices fell by 0.5% to 1.8% in the first half of the day, with the Shanghai Composite Index down 20 points to 3,927 points, the Shenzhen Index down 158 points to 13,548 points, and the ChiNext down 57 points to 3,189 points. Domestic bank stocks rose against the trend, with ICBC and CCB up 1% and 1.4% respectively. Shipping stocks performed strongly, with CMES and NJTC rising 8.7% and 8.2% respectively. Chip stocks generally declined, with SMIC down 2.7% and Hua Hong down 3.4%. International oil prices remained high, and oil and gas stocks performed well

AASTOCKS

NJTC

SSE Index

WP CSI Banks ETF

Shenzhen Index

ICBC

Hwabao WP CSI Banks ETF

ChinaAMC CSI Banks ETF

ChiNext

Huaan CSI Banks ETF

CMES

Fullgoal CSI 800 Banks ETF

The three major A-share indices of the Shanghai and Shenzhen stock exchanges fell by 0.5% to 1.8% in the first half of the day, with chip stocks declining while shipping and innovative pharmaceutical concept stocks continued to rise

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The computing power leasing concept became active again, with AURORA hitting its daily limit six times in 11 days, NB CONSTRUCTION surging to the daily limit, Hongjing Technology rising over 10%, and UCloud, Capitalonline, Shunwang Technology, and Canatal following suit. Hong Kong chip stocks surged collectively, with ILUVATAR COREX jumping nearly 12%, HUA HONG SEMI and BIREN TECH rising nearly 6%, and SMIC and SHANGHAI FUDAN increasing by over 3%

- On April 1, both A-shares and Hong Kong stocks opened significantly higher as geopolitical tensions in the Middle East eased, with signals from Iran and the U.S. indicating a willingness to end conflicts.  
- The A-share market saw all three major indices rise over 1%, driven by a surge in computing hardware and chip sectors, while in Hong Kong, the Heng Seng Index opened 2% higher and experienced a slight pullback.  
- In the bond market, government bond futures fluctuated, with mixed movements observed across commodity futures, including gains in precious metals but declines in crude oil and coal.

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Canatal

UCloud

ILUVATAR COREX

BIREN TECH

AURORA

Capitalonline

Shunwang Technology

Hang Seng Index

SHANGHAI FUDAN

FMSH

NB CONSTRUCTION

AH Shares Rise Collectively: SSE Index Up 1%, Computing Power Hardware Explodes, Hang Seng Index Up 2%, Internet Tech Stocks Generally Rebound

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The three major A-share indices opened higher, rising between 1.2% and 2.2%. The market rebound is driven by expectations of the end of the Iran war. Domestic bank stocks softened, while domestic real estate company Vanke opened 1.3% higher. Chip stocks performed strongly, with SMIC opening 2.5% higher and HUA HONG SEMI opening 3.9% higher. Oil stocks were slightly weaker, with PetroChina and CNOOC opening lower. BOE opened 2.6% higher, planning to repurchase shares

CNOOC

The three major A-share indices of Shanghai and Shenzhen opened higher by 1.2% to 2.2%, chip stocks rebounded, and oil stocks were slightly weak

Hua Hong Semiconductor Wins SSE Acceptance for Share-Issuance Acquisition Plan

Tip Ranks

Hua Hong Semiconductor Wins SSE Acceptance for Share-Issuance Acquisition Plan

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CHALIECO fell about 14%, SHANDONG MOLONG fell about 15%, MINIMAX fell about 8%, Pony.ai fell about 8%, BYD ELECTRONIC fell about 5%, GDS fell about 4%, Hua Hong Semiconductor fell about 5%

CHALIECO

GDS-SW

Shandong Molong

BYD ELECTRONIC

SHANDONG MOLONG

CAM HS TECH

Tianhong Hang Seng TECH ETF(QDII)

Dacheng Hang Seng Technology ETF(QDII)

Hang Seng TECH ETF I

ChinaAMC Hang Seng Technology ETF(QDII)

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Hang Seng Index closes up 0.15%, Hang Seng TECH Index down 0.86%

Hua Hong Semiconductor posts FY profit attributable $54.9 million

marketscreener

Hua Hong Semiconductor posts FY profit attributable $54.9 million

Taiwan is advancing in wide-bandgap (WBG) semiconductors, focusing on device packaging and deployment in power systems. NIKO Semiconductor Co. Ltd. is a key player, transitioning from silicon MOSFETs to silicon carbide (SiC) and gallium nitride (GaN) modules. The company emphasizes design and application support, leveraging strong relationships with ODMs and OEMs. Taiwan's WBG ecosystem has matured, enabling rapid responses to market demands, particularly in GaN and SiC technologies for electric vehicles and AI power supplies. Innovations in packaging and thermal management are enhancing performance and reliability, positioning Taiwan as a leader in global electrification efforts.

EE Times

Taiwan’s WBG Momentum Extends from Devices to Power Systems

STHH

STMEF

STMicroelectronics China-manufactured STM32 microcontrollers begin volume production | STM Stock News

StockTitan

STMicroelectronics NV ADRhedged

STMicroelectronics NV

STMicroelectronics N.V.

STMicroelectronics China-manufactured STM32 microcontrollers begin volume production | STM Stock News

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Hong Kong's chip stocks rebounded significantly, with Montage Technologyand GigaDevice Semiconductorboth surging over 3%. Other companies, including Hua Hong Semiconductor, ASM Pacific Technology, and Semiconductor Manufacturing International Corporation, also experienced upward movements.

CoinLive

ASMPT

Hong Kong Chip Stocks Rebound with Notable Gains

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

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

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Chinese chip firms hit record high revenue driven by the AI boom and U.S. curbs

Top 5 HK Stock Gainers/Losers (>100B) (4.2)

The Hang Seng TECH Index fell by 1.63%, while the automotive sector strengthened | Hong Kong stock market closing review

The three major A-share indices of the Shanghai and Shenzhen stock exchanges fell by 0.5% to 1.8% in the first half of the day, with chip stocks declining while shipping and innovative pharmaceutical concept stocks continued to rise

AH Shares Rise Collectively: SSE Index Up 1%, Computing Power Hardware Explodes, Hang Seng Index Up 2%, Internet Tech Stocks Generally Rebound