Movement Alert｜Biren Technology Rises 3.42% in Regular Trading, Semiconductor Sector Broad Rebound After Technical Oversold Conditions

Market Focus06-29

On June 29, Biren Technology rose 3.42% in regular trading, trading at 60.05 HKD/share, with turnover of 215 million HKD.

The semiconductor sector staged a broad-based rebound, with HUA HONG GRACE up 7.34%, GIGADEVICE up 7.85%, MONTAGE TECH up 6.67%, ILUVATAR COREX up 4.24%, and SMIC up 2.75%, reflecting significant sector-wide recovery momentum. Biren Technology had previously plunged over 16% in a single session on June 26, wiping out approximately 13.2 billion HKD in market capitalization, leaving the stock in technically oversold territory.

Providing additional valuation support, DBS recently issued its inaugural assessment of the company with a fair value of 80.74 HKD, implying approximately 35% upside from current levels. DBS projected revenue CAGR of 147% for fiscal years through 2028, significantly above the industry average of 72%, citing structural opportunities from expanding capital expenditure among Chinese cloud service providers as a key growth catalyst.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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