HK Stock Market Move | Hua Hong Grace Semiconductor (01347) rose nearly 5% in morning trading; the company launched a RMB300 million to RMB500 million buyback plan; price increases are expected to continue through 2027.

Hua Hong Grace Semiconductor (01347) rose nearly 5% in morning trading. As of press time, it was up 3.57% at HK$79.75, with turnover of HK$375 million. On the news front, Hua Hong Grace Semiconductor announced a plan to repurchase its A-shares, with total repurchase funds of no less than RMB300 million and no more than RMB500 million. All repurchased shares will be cancelled. Based on the upper limit of the repurchase price, the expected repurchase volume is approximately 1.1739 million to 1.9566 million shares, accounting for 0.0609% to 0.1015% of the company's total share capital. It is worth noting that at the latest earnings briefing, Hua Hong Grace Semiconductor executives said the company's average selling price in the fourth quarter will rise slightly compared with the third quarter, and price increases are expected to continue through 2027. The company is also optimistic about opportunities for logic foundries to participate in the memory and silicon photonics markets.