HK Stock Market Move | INNOSCIENCE (02577) rose over 6% in early trading, reaching a strategic cooperation agreement with ON Semiconductor to promote the development of the gallium nitride ecosystem.

INNOSCIENCE (02577) rose more than 6% in early trading, and as of the time of publication, it rose by 4.16% to 76.4 Hong Kong dollars, with a turnover of 1.88 billion Hong Kong dollars. On the news front, INNOSCIENCE has reached a strategic cooperation with ON Semiconductor to jointly accelerate the application and layout of the gallium nitride industry. This strategic cooperation will integrate INNOSCIENCE's mature and advanced gallium nitride manufacturing capabilities with ON Semiconductor's experience and advantages in system packaging and integration through wafer procurement, accelerating the rapid deployment of gallium nitride in fields such as new energy vehicles, artificial intelligence, data centers, and industrial sectors. The announcement stated that this strategic cooperation is expected to bring hundreds of millions of dollars in gallium nitride sales to the company in the coming years and provide growth opportunities for both parties in the market development and layout in the above-mentioned key areas.