On June 18, Hua Hong Semiconductor rose 3.58% in regular trading, trading at 164.9 HKD/share, with turnover of 2.364 billion HKD. The stock gained momentum as the Shanghai Stock Exchange M&A Review Committee is scheduled to review the company's proposed acquisition of a 97.4988% stake in Hualigwei through share issuance on this date.
The restructuring plan, previously announced alongside the company's integration with Hualigwei, is expected to add 38,000 wafers per month of 12-inch capacity, achieving deep complementarity between the two parties' process platforms. Goldman Sachs recently raised its target price for Hua Hong Semiconductor from 87 HKD to 117 HKD, citing long-term benefits from domestic AI solutions development. Meanwhile, the broader semiconductor sector showed strength, with ILUVATAR COREX up 11.35%, INNOSCIENCE up 7.45%, GIGADEVICE up 6.64%, MONTAGE TECH up 3.52%, and SMIC up 1.19%.
(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.)