HK Stock Market Move | INNOSCIENCE(02577) rose over 8% at the close to reach a new high. The company owns the world's largest gallium nitride power semiconductor production base.

INNOSCIENCE (02577) rose more than 8% at the close, reaching a high of HK$37.3, setting a new record since its listing. As of the time of writing, it had risen by 8.12% to HK$37.3, with a trading volume of HK$12.5891 million. According to public information, INNOSCIENCE is the world's first company to achieve mass production of 8-inch silicon-based gallium nitride wafers, and is also the only company in the world with industrial-scale production of silicon-based gallium nitride semiconductor products. It is reported that INNOSCIENCE has adopted the IDM model of integrated device manufacturers, enabling it to control the entire process from product design, manufacturing, packaging, testing to sales. As of June 30, 2024, INNOSCIENCE owns the world's largest gallium nitride power semiconductor production base, with a capacity of 12,500 wafers per month. According to data from Frost & Sullivan, based on revenue in 2023, the company's market share in the global power semiconductor industry is 0.2%, and in the Chinese power semiconductor industry is 0.4%. Furthermore, according to the same source, based on revenue, the company ranked first among all gallium nitride power semiconductor companies globally in 2023, with a market share of 33.7%.