HK Stock Market Move | FORTIOR (01304) rose more than 7% during trading yesterday and has been added to the Hong Kong Stock Connect list. The company focuses on BLDC motor drive control chip technology.
FORTIOR (01304) surged over 7% in intraday trading, as of the time of writing, it rose 5.22% to HK$157.1, with a turnover of HK$56.77 million.
FORTIOR (01304) rose more than 7% during the trading day and, at the time of writing, increased by 5.22% to 157.1 Hong Kong dollars, with a trading volume of 56.7703 million Hong Kong dollars.
On the news front, on July 29, FORTIOR announced the exercise of the over-allotment option, issuing 2.8116 million H shares at 120.5 Hong Kong dollars per share. This issuance aims to meet the market's oversubscribed demand and enhance the company's capital strength. In addition, the Shenzhen Stock Exchange announced the adjustment of the list of stocks eligible for trading under the Stock Connect program, adding FORTIOR to the list, effective from August 4.
Public information shows that FORTIOR (Fortior Technology (Shenzhen) Co.,) is a chip design company specializing in the design and development of BLDC motor drive control chips. The group's product portfolio includes motor control chips (such as MCU, ASIC), motor drive chips (such as HVIC), intelligent power module IPM, and power devices (such as MOSFET). According to Frost & Sullivan data, the group is the first chip design company in China to focus on BLDC motor drive control chip design, and as of December 31, 2023, the group's market share in China's BLDC motor control and drive chip market reached 4.8% (by revenue), ranking sixth, and the only Chinese company among the top ten companies in the market.
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