HK Stock Market Move | INNOSCIENCE (02577) closed up more than 5%, TSMC exits gallium nitride business, the company will further increase 8-inch gallium nitride production capacity.

INNOSCIENCE (02577) rose over 5% in the afternoon trading session, with gains of 2.97% as of the deadline, reaching HK$38.1, with a turnover of HK$102 million. On the news front, according to a report by the Science and Technology Board Daily, the global leading wafer foundry TSMC has officially confirmed that it will gradually exit the gallium nitride (GaN) wafer foundry business in the next two years. INNOSCIENCE Chairman Luo Weiwei believes that gallium nitride wafers are not suitable for foundry models; TSMC's abandonment of GaN foundry business is a differentiated choice within the industry. In addition, according to China Business Network, INNOSCIENCE has disclosed plans to further increase its 8-inch wafer production capacity, expecting to increase from the current 13,000 pieces per month to 20,000 pieces by the end of the year. Looking ahead in the medium to long term, the company has previously announced a goal of reaching 70,000 pieces per month in five years, which is more than five times the current level. INNOSCIENCE plans to achieve a significant advantage over traditional silicon-based power semiconductors in both performance and cost through capacity expansion and product iteration in the coming years, bringing customers up to a 40% performance improvement and 30% cost savings.