Stock Track | HUA HONG GRACE Soars 13.29% Intraday on M&A Approval and Production Capacity Expansion

Stock Track06-24

HUA HONG GRACE's stock price soared 13.29% during intraday trading on Wednesday, marking a significant upward movement for the semiconductor company.

The surge follows the recent approval by the Shanghai Stock Exchange M&A Review Committee for the company's major restructuring plan. The approval allows HUA HONG GRACE to acquire 97.4988% equity of Shanghai Huali Microelectronics via share issuance, with a total transaction value of RMB 8.268 billion. The company will also raise up to RMB 7.556 billion in supplementary funds. This acquisition is expected to inject Huali Micro's 65/55nm and 40nm logic process capabilities into HUA HONG GRACE, adding 38,000 wafers per month of 12-inch production capacity and significantly strengthening its market position in specialty process wafer foundry services.

Additionally, the company's 40nm ultra-low-power specialty process has entered stable mass production, catering to growing low-power chip demand for IoT and wearable devices. The market is responding positively to these strategic developments that enhance the company's technological capabilities and production scale.

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