HK Stock Market Move | INNOSCIENCE(02577) rose more than 7% to a new high. The company owns the world's largest production base for gallium nitride power semiconductors.

INNOSCIENCE (02577) rose more than 7% in early trading, hitting a high of HKD 42.5, a new record high. As of the time of writing, it is up 5.56% at HKD 41.75, with a trading volume of HKD 3.2719 million and a total market value briefly exceeding HKD 37 billion. Public information shows that INNOSCIENCE is the world's first company to achieve mass production of 8-inch silicon-based gallium nitride wafers, and the only company in the world with industrial-scale production of silicon-based gallium nitride semiconductor products that cover the full voltage spectrum. It is reported that INNOSCIENCE has adopted the integrated device manufacturer (IDM) model, allowing it to control the entire process from product design, manufacturing, packaging, testing to sales. As of June 30, 2024, INNOSCIENCE has the world's largest gallium nitride power semiconductor production base, with a capacity of 12,500 wafers per month. According to Frost & Sullivan data, based on 2023 revenue, the company has a market share of 0.2% in the global power semiconductor industry and 0.4% in the Chinese power semiconductor industry. In addition, based on revenue, the company is ranked first among all gallium nitride power semiconductor companies globally in 2023, with a market share of 33.7%.