No Data
Mission "core" event comes to an end! Stmicroelectronics and Huahong reach foundry cooperation plans to produce 40nm MCU domestically by the end of next year.
1. STMicroelectronics announced a partnership with Hua Hong Semi, planning to achieve the production of 40nm process MCU chips at Hua Hong's Wuxi plant by the end of 2025; 2. STMicroelectronics CEO Jean-Marc Chery stated that STMicroelectronics is adopting the best practices and technologies learned in the Chinese market for use in Western markets, "The missionary story is over."
Hong Kong stock market review: Hang Seng Index fell by 0.53%, Hang Seng Tech Index fell by 1.24%, mainland real estate stocks showed a noticeable decline.
Most of the large technology stocks fell, with Kuaishou dropping 11.7% after earnings, marking the weakest performance.
Hong Kong stocks surged, Hua Hong Semiconductor (01347) rose more than 3%, the company responded that the cooperation plan with STMicroelectronics is true.
Hua Hong Semi (01347) surged over 3%, as of the time of writing, it has risen by 2.6%, trading at 21.7 Hong Kong dollars, with a transaction volume of 0.391 billion Hong Kong dollars.
STMicroelectronics and Wuhan (01347.HK) establish a partnership program. The CEO stated that the China market cannot be given up.
Global leading silicon carbide chip producer STMicroelectronics announced a partnership program with Hua Hong Semi (01347.HK), emphasizing the crucial importance of establishing production in China for its competitiveness. The company is collaborating with China's second-largest custom chip maker, Hua Hong Semi, preparing to produce 40-nanometer microcontroller chips in Shenzhen by the end of next year. Last year, the company, in partnership with Sanan Optoelectronics, established a silicon carbide chip joint venture in Chongqing, with Sanan Optoelectronics supplying wafers. STMicroelectronics CEO Jean-Marc Chery pointed out that China is the largest and most innovative market for electric vehicles.
A-share chip stocks weaken, Yan Dong Micro falls more than 5%.
On November 20, 2023, Gelonghui reported that Yandong Micro fell over 5%, while Huahong Company, hangzhou changchuan technology, and semiconductor manufacturing international corporation fell over 2%.
Bank of America Securities raised the target price of Huazhong (01347.HK) to 17.8 yuan, maintaining a "underperform" rating.
Bank of America Securities' research report raised the target price of Huahong (01347.HK) from 12 to 17.8 yuan, using a higher expected P/E multiple for 2025. The bank pointed out that this is because the average selling price of the company's wafers should be close to stabilizing, reflected in a 1% growth in average selling price in the third quarter; if local competition eases, shipments and prices are expected to grow by 11% and 8% respectively in 2026. However, the bank believes that the average selling price and gross profit of Huahong wafers will remain weak before the first half of 2025, which is more cautious than market expectations. Therefore, the bank reiterated its "underperform" rating on Huahong. The bank
No Data
No Data
No Data