HK Stock Market Move | INNOSCIENCE (02577) is now up more than 4%, raising over HK$ 1.5 billion in net proceeds from the rights issue. The company is partnering with NVIDIA to support the 800V architecture.

INNOSCIENCE (02577) is currently up by over 4%, as of press time, up by 4.23% to HK$74, with a turnover of HK$2.38 billion. In terms of news, INNOSCIENCE announced the completion of a placement of a total of 20.7 million new H shares, raising approximately HK$1.55 billion. INNOSCIENCE stated that HK$4.82 billion will be used for capacity expansion, HK$3.76 billion for debt repayment, and HK$6.92 billion for operational funds and general corporate purposes. This placement will further enhance the company's financial strength, market competitiveness, and overall strength, promoting long-term healthy development. A research report released by Lyon stated that Nvidia is promoting a new 800 VDC AI server architecture, which can improve power efficiency and is expected to be launched in 2027. This design demonstrates the demand for gallium nitride in AI servers, and the market is estimated to have a TAM of $100 billion. INNOSCIENCE's collaboration with Nvidia makes it the only supplier capable of providing a complete gallium nitride solution. INNOSCIENCE holds a 30% market share and should have a potential revenue share of RMB 21 billion. Lyon raised its forecast and target price to HK$113.6, and reiterated its "outperform" rating.