HK Stock Market Move | Zhuzhou CRRC Times Electric(03898) rose over 11% again. The imbalance between supply and demand in power semiconductors has led to the company's power semiconductor business entering the production stage.

Zhuzhou CRRC Times Electric (03898) rose by over 11%, reaching an increase of 10.96% at 42.12 Hong Kong dollars, with a trading volume of 316 million Hong Kong dollars. On the news front, the imbalance between supply and demand of power semiconductors has intensified. Some IDM giants have extended delivery times for certain power semiconductor products to as long as 30 weeks. Mainstream categories such as MOSFET and IGBT are experiencing varying degrees of supply shortage. Zhuzhou CRRC Times Electric's power semiconductor business has entered the production phase. It is reported that the Yixing Phase III project has started production, and the Zhuzhou Phase III silicon carbide project is also partially in production by 2026, rapidly increasing power semiconductor capacity. Ping An Securities pointed out that as a leading traction converter system supplier in China's rail transit industry, the company's existing traction converter system products cover various types of locomotives, EMUs, and urban rail vehicles, breaking international monopoly, achieving domestic substitution of core train systems, and leading the domestic market. In addition, the company's Beijing Emerging Eastern Aviation Equipment business has made breakthroughs, entering the industry's forefront and creating new growth opportunities. Continued optimism towards the company's "device + system + whole machine" industry chain structure and future development.