SICC's stock surged 8.14% during intraday trading on Monday, marking a significant rebound for the semiconductor company.
The rally comes as sequential metrics suggest stabilization following weak first-quarter results. While Q1 showed a net loss of RMB 60.5 million compared to a profit of RMB 8.52 million in the year-ago period, with revenue declining 10.41% year-over-year due to SiC substrate price erosion of 30-40%, the company reported 3.58% quarter-over-quarter revenue growth with recovering gross margins. Major financial institutions including Goldman Sachs and Morgan Stanley maintain bullish ratings, citing anticipated AI and EV-driven demand recovery in the second half of the year.
The broader semiconductor sector provided additional tailwinds for SICC's recovery, contributing to the stock's strong intraday performance.
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