HK Stock Market Move | Hua Hong Grace Semiconductor (01347) rose over 4% in early trading, with wafer shipments in the first half of the year reaching a record high and revenue increasing for ten consecutive quarters on a quarter-on-quarter basis.

Hua Hong Grace Semiconductor (01347) rose over 4% in early trading, and as of the time of writing, it increased by 4.43%, reaching HKD 122.8, with a trading volume of HKD 1.529 billion. In terms of news, Hua Hong Grace Semiconductor announced its interim results. In the first half of the year, it achieved revenue of USD 1.378 billion, a year-on-year increase of 24.5%; the gross margin reached 14.8%, an increase of 4.7 percentage points compared to last year; the profit attributable to equity shareholders amounted to USD 59.568 million, a year-on-year increase of 409%; wafer shipments increased by 17.9% year-on-year, setting a new historical high. As of the end of the second quarter this year, Hua Hong Grace Semiconductor has achieved quarter-on-quarter revenue growth for 10 consecutive quarters. It is noteworthy that Hua Hong Grace Semiconductor expects revenue in the third quarter to be between USD 770 million and USD 780 million, representing a quarter-on-quarter growth of 7.3% to 8.7%, with the gross margin guidance revised upward to 16% to 18%. Sinolink pointed out that, considering the current shortage of capacities in memory, MCU, and certain power devices, combined with the orderly release of new capacity, we judge that the company has a solid upward basis for revenue and profit in the second half of the year.