HK Stock Market Move | INNOSCIENCE (02577) surged over 30% and reached a new high during trading hours. The company responded that its cooperation with NVIDIA is still in the testing phase.

INNOSCIENCE (02577) saw a substantial increase in its stock price in the morning, surging by over 63% in the afternoon and reaching a high of 72 Hong Kong dollars, setting a new record high. As of the time of writing, the stock had risen by 31.36% to 57.8 Hong Kong dollars, with a trading volume of 4.115 billion Hong Kong dollars. In terms of news, NVIDIA's official website updated the list of partners for its 800V DC power architecture, with INNOSCIENCE being the only Chinese chip company selected as a partner in this round. According to reports from 21st Century Business Herald, INNOSCIENCE, speaking as an investor, mentioned that they have been collaborating with NVIDIA for some time now, primarily focusing on high-power gallium nitride technology. However, the partnership is still in the testing phase and has not yet resulted in any substantial orders. Due to the company's upcoming half-yearly report, they refrained from providing details on the potential outcomes and impact of this collaboration. Huachuang Securities pointed out that INNOSCIENCE is the world's first IDM manufacturer to achieve mass production of 8-inch gallium nitride wafers, specializing in the research, development, manufacturing, and sales of GaN power devices. As the world's only supplier covering the full voltage range of 15V-1200V in gallium nitride power semiconductors, the company focuses on products ranging from 15V to 900V, catering to key sectors such as consumer electronics, data centers, new energy vehicles, and industrial power supplies. In 2023, it held a market share of 42.4% in global GaN discrete device shipments, with a monthly production capacity of 13,000 wafers by the end of 2024, and plans to increase this capacity to 70,000 wafers in the next five years.