HK Stock Market Move | HUA HONG SEMI (01347) has risen more than 3% in intraday trading. Institutions say the new CEO is expected to accelerate the development of the company's process platform.

HUA HONG SEMI (01347) rose by more than 3% during trading hours, closing at a 3.35% increase to HK$20.65 with a turnover of HK$1.09 billion. Huatai released a research report stating that according to announcements by the Shanghai Stock Exchange and the Hong Kong Stock Exchange on January 1st, HUA HONG SEMI has appointed a new CEO, Bai Peng. Mr. Bai is a heavyweight figure in the global semiconductor industry and had previously worked at Intel for many years, holding important positions such as Director of R&D and Vice President. The firm believes that this appointment will help Hua Hong accelerate the development of its technology platform, including advanced and specialty processes. The report further mentioned that as of the 3rd quarter of 2024, the A/H listed company HUA HONG SEMI has three 8-inch semiconductor wafer fabs and one 12-inch semiconductor wafer fab in operation. The company's total capacity (8-inch equivalent) is 392,000 wafers per month. The company's process nodes range from 40nm to 1um, covering logic/RF, BCD, standalone NVM, embedded NVM, and discrete devices. On December 10, 2024, Hua Hong announced the commissioning of the new Wuxi Phase II wafer fab, with plans to reach a capacity of 20,000 wafers per month by the end of 2025.