HK Stock Market Move | HUA HONG SEMI (01347) rebounded by nearly 7%, the acquisition of Huaxin Micro's merger transaction was accepted by the Shanghai Stock Exchange, and the company intends to rename itself "Huahong Hongli".

HUA HONG SEMI (01347) rebounded by nearly 7%, reaching a 6.25% increase to 8.25 Hong Kong dollars by the time of publication, with a trading volume of 7.71 billion Hong Kong dollars. On the news front, the acquisition of Hua Liwei by Hua Hong Semiconductor has been accepted by the Stock Exchange, signaling that the asset injection process has entered a substantive review phase. It is expected that the subsequent procedures will proceed in an orderly and steady manner. Through the injection of Hua Liwei, HUA HONG SEMI and other companies controlled by the controlling shareholder have substantially resolved industry competition in the 65/55nm and 40nm overlapping technology platforms, optimizing the company's governance structure and business independence, in line with regulatory requirements and market expectations. It is worth noting that HUA HONG SEMI intends to rename itself as "Hua Hong Hongli Semiconductor Co., Ltd." The main reason for this proposed name change is to align the company's name with that of its main operating subsidiary, unify the brand, better reflect the group's corporate image, and the board of directors believes that the name change will be beneficial for the group's future business development, in line with the overall best interests of the company and its shareholders.