Lyon: Montage Technology (06809) faces relatively low risk of price manipulation accusations in South Korea, with attractive valuation providing opportunities for cumulative gains.

Lyon released a research report stating that in response to the investigation by South Korean prosecutors into three memory interface chip (MIC) manufacturers for alleged price monopoly, Montage Technology (06809) stated that it has always complied with regulations and operated normally. The bank believes that, given that MIC prices follow a structured and technology-driven pricing framework, the likelihood of substantial pricing issues is low. Montage Technology's stock price has seen a pullback, providing additional accumulation opportunities in an attractively valued situation. Lyon currently has a target price of 454.2 Hong Kong dollars for Montage Technology H shares and maintains a rating of "highly confident outperforming the market".