HK Stock Market Move | INNOSCIENCE (02577) rose more than 4%, the penetration rate of gallium nitride in silicon-based data center power supplies has surged, and the company's Suzhou factory capacity continues to expand.

INNOSCIENCE (02577) rose over 4% in the morning, and as of the time of publication, it is up 4.17% at HK$47.92, with a turnover of HK$194 million. On the news front, Goldman Sachs released a research report pointing out that as AI data centers migrate to 800V high-voltage direct current (800VDC) architecture, the industry's pursuit of power density and efficiency limits will force widespread adoption of gallium nitride (GaN) devices. The bank believes that as the world's leading IDM-mode gallium nitride supplier, INNOSCIENCE is at the forefront of this trend. The report states that Goldman Sachs expects INNOSCIENCE's revenue compound annual growth rate (CAGR) for 2025 to 2028 to be as high as 73%. This explosive growth is mainly driven by three factors: the penetration of silicon-based data center power into gallium nitride; the extension of product lines from fast charging for consumer electronics to high-value scenarios such as automotive, industrial, and humanoid Siasun Robot & Automation, driving the increase in single-device value; and the continued expansion of production capacity at the Suzhou plant, with monthly capacity expected to exceed 68,000 wafers by the end of 2029.