Stock Track | Biren Technology Soars 5.08% Intraday on Semiconductor Sector Rally and Strong Earnings Results

Stock Track04-24

Biren Technology's stock surged 5.08% during intraday trading on Friday, marking a significant upward movement for the semiconductor company.

The rally was supported by a broad semiconductor sector upswing, with peers like HUA HONG SEMI and SMIC posting substantial gains. Additionally, Biren Technology recently reported annual revenue of RMB 1.035 billion, representing a more-than-threefold year-over-year increase and marking its first breakthrough above the RMB 1 billion threshold, with gross margin at approximately 53.8%.

Further contributing to the positive sentiment, the company announced it completed Day-0 adaptation and inference verification of Tencent's Hunyuan Hy3 preview language model on its Bili 166 series GPU products, strengthening its position in the domestic AI chip ecosystem. The stock also appears to be experiencing a technical rebound following recent declines.

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