Stock Track | HUA HONG SEMI Soars 5% on Partnership Deal with STMicroelectronics

Stock Track11-22

Shares of Hong Kong-listed HUA HONG SEMI (01347) climbed 5% in intraday trading on Friday, following an announcement of a strategic partnership with European chipmaker STMicroelectronics.

The surge in HUA HONG SEMI's stock came after STMicroelectronics revealed plans to collaborate with the Chinese foundry to manufacture microcontroller chips at the 40-nanometer node in Shenzhen by the end of 2025. STMicro's CEO emphasized the importance of having local manufacturing capabilities in China to maintain a competitive position.

This partnership deal highlights the growing demand for advanced semiconductor manufacturing capabilities in China and the potential growth opportunities for domestic chipmakers like HUA HONG SEMI. As a leading foundry in the region, the company is well-positioned to benefit from the increasing need for localized chip production.

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