Movement Alert|Hua Hong Semiconductor Rises 4.43% in Regular Trading, Semiconductor Sector Extends Oversold Rebound

Market Focus
Jun 10

On June 10, Hua Hong Semiconductor rose 4.43% in regular trading, trading at 144.1 HKD/share, with trading volume of 18.01 billion HKD.

On the news front, the semiconductor sector continued its recovery following a sharp selloff triggered by overnight US chip stock declines earlier in the week. The Philadelphia Semiconductor Index had previously fallen over 2%, with Broadcom plunging more than 12% and Micron Technology dropping over 7%, which dragged Hong Kong-listed semiconductor stocks down. Hua Hong Semiconductor had accumulated a decline exceeding 13% over two consecutive trading days before the sector began rebounding on June 9.

Fundamentally, the company reported Q1 revenue of USD 661 million, up 22.2% year-over-year, with gross margin improving 3.8 percentage points to 13.0%. Growth was driven by MCU, standalone flash memory, and BCD process products, with analog and power management as well as NVM storage platforms benefiting from AI server chip demand expansion and overseas customer order recovery, providing support for the stock price recovery.

Within the Semiconductors sector, ILUVATAR COREX rose 16.97%, BIREN TECH rose 7.89%, SMIC rose 1.0%, MONTAGE TECH rose 1.0%, while INNOSCIENCE fell 9.51%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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