Movement Alert|Hua Hong Semiconductor Rises 5.6% in Regular Trading, Semiconductor Sector Extends Oversold Rebound

Market Focus
Jun 12

On June 12, Hua Hong Semiconductor rose 5.6% in regular trading, trading at HKD 148.9/share, with turnover of HKD 1.111 billion. The stock continues its recovery after a cumulative drop exceeding 13% earlier this month triggered by a sharp sell-off in US chip stocks.

The rebound is driven by a broad recovery across the semiconductor sector. Following the June 8 plunge sparked by a 2%+ decline in the Philadelphia Semiconductor Index and a 12%+ crash in Broadcom, the sector has been staging a multi-day recovery. Within the sector, SMIC rose 4.02%, Montage Technology gained 7.18%, GigaDevice advanced 6.62%, Iluvatar CoreX added 2.82%, and Innoscience climbed 3.69%.

On fundamentals, Hua Hong 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 in MCU, standalone flash memory, and BCD process products has provided support for the stock's oversold recovery. The company is the world's sixth-largest and mainland China's second-largest foundry, specializing in mature-node specialty processes at 28nm and above.

(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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