Stock Track | Hua Hong Semi Soars 7.98% Intraday on Acquisition Milestone and Planned Rebranding

Stock Track04-01

Hua Hong Semi's stock surged 7.98% during intraday trading on Wednesday, following significant corporate developments.

The rally comes after the Shanghai Stock Exchange accepted the company's application for its acquisition of HLMC, marking a key milestone that indicates the asset injection process has entered a substantive review phase. By integrating HLMC, Hua Hong Semi has effectively addressed overlapping competition with other entities under its controlling shareholder in specific process platforms, which optimizes the company's governance structure and operational independence.

Separately, the company plans to change its name to "Hua Hong Hongli Semiconductor Limited" to align with its main operating subsidiary, unifying the corporate brand and better reflecting the group's identity. The board believes this rebranding will support future business growth and serve the best interests of the company and its shareholders.

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