On July 7, InnoScience (02577.HK) declined 3.08% in regular trading, trading at HK$55.10/share, with turnover of HK$157 million.
On the news front, despite Soochow Securities initiating coverage with a Buy rating and a target price of HK$96.90 based on the company's 8-inch GaN-on-Si mass production platform advantages and AI power/automotive electronics growth potential, the broader semiconductor sector continued its correction. Within the sector, GigaDevice fell 8.21%, Montage Technology dropped 7.52%, and SMIC declined 1.78%, reflecting broad-based selling pressure.
Meanwhile, InnoScience's ongoing patent dispute with Infineon spanning China, the US, and Germany continued to weigh on sentiment. Although InnoScience secured favorable rulings domestically — including a Suzhou court judgment ordering Infineon to cease sales and pay RMB 10 million in damages, upheld by China's Supreme Court — the cross-border litigation uncertainty persists. Combined with profit-taking pressure following earlier gains, the stock extended its pullback for a second consecutive session.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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