HK Stock Market Move | INNOSCIENCE (02577) continues to rise by nearly 4%, with a total increase of over 17% this week. The company plans to expand its production capacity of 8-inch gallium nitride wafers.

INNOSCIENCE (02577) rose by nearly 4%, with a cumulative increase of over 17% for the week. As of the time of writing, it has risen by 3.46% to 43.3 Hong Kong dollars, with a turnover of 1.09 billion Hong Kong dollars. On the news front, it is reported that INNOSCIENCE is accelerating the expansion of its 8-inch gallium nitride wafer production capacity. The company plans to increase the current monthly capacity of 13,000 pieces to 20,000 pieces by the end of 2025. The long-term goal is to further expand the monthly capacity to 70,000 pieces within the next five years. INNOSCIENCE expects that industrialization of 12-inch GaN will not enter a large-scale commercialization stage until at least 2030. Before that, the company will focus on maximizing the scale effect and cost advantage of the 8-inch platform. In addition, according to the Science and Technology Innovation Board Daily, TSMC has officially confirmed that it will gradually withdraw from gallium nitride (GaN) wafer foundry business in the next two years. INNOSCIENCE Chairman Luo Weiwei believes that GaN wafers are not suitable for foundry models; TSMC's abandonment of GaN foundry business is a differentiation choice within the industry. On June 30, INNOSCIENCE announced that international semiconductor giant STMicroelectronics (STM) had voluntarily committed not to reduce its holdings within the next 12 months.