Stock Track | Hua Hong Semiconductor Soars 5.07% Intraday on Broker Buy Rating, AI-Driven Orders and Capacity Expansion

Stock Track06-03

Hua Hong Semiconductor's stock surged 5.07% during intraday trading on Wednesday, marking a significant upward movement.

The rally follows a maintained Buy rating from Open Source Securities, which cited multiple positive factors including benefits from Huawei's Tao Law reshaping the value of mature process nodes and AI cycle-driven order growth. The company reported strong first-quarter financials with revenue reaching US$661 million, up 22.2% year-over-year, and an improving gross margin. Management provided optimistic guidance for the second quarter with expected revenue of US$690-700 million and a gross margin between 14-16%, supported by anticipated average selling price increases of 10-25% across product lines for the full year.

Further supporting the positive sentiment is the company's ongoing capacity expansion, with Fab 9A expected to reach full production early next year and Fab 9B having commenced construction in March. The broader semiconductor sector also experienced a rally, contributing to the positive momentum for Hua Hong Semiconductor.

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