On June 15, Hua Hong Semiconductor rose 3.02% in regular trading, trading at 140.5 HKD/share, with turnover of 2.99 billion HKD. The gain was supported by continued semiconductor sector recovery and a recent Goldman Sachs target price upgrade.

On the news front, Goldman Sachs significantly raised the company's Hong Kong-listed target price from 87 HKD to 117 HKD. Analysts noted that as domestic AI solutions continue to develop from models to semiconductors, leading Chinese foundries including Hua Hong Semiconductor will benefit from this long-term trend. Additionally, the company recently announced a restructuring with Hualihong, adding 38,000 wafers per month of 12-inch capacity, with complementary process platforms covering broader application scenarios.

Within the semiconductor sector, the broader recovery continued with peers posting gains: Innoscience up 6.67%, Iluvatar CoreX up 3.03%, SMIC up 1.67%, GigaDevice up 1.15%, and Montage Technology up 0.85%. Fundamentally, the company reported Q1 revenue of USD 660.9 million, up 22.2% year-over-year, with gross margin improving 3.8 percentage points to 13.0%, driven by growth in MCU, standalone flash memory, and BCD process products.

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