香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 HUA HONG SEMICONDUCTOR LIMITED 1. 考慮及批准刊發本公司及其附屬公司就二零二五年十月一日至十二月三十一 日止三個月期間的第四季度未經審核財務業績；及 2. 商議任何其他事項。 華虹半導體有限公司 （於香港註冊成立之有限公司） （股份代號：01347） 董事會會議日期通知 華虹半導體有限公司（「本公司」）特此通知，本公司謹訂於二零二六年二月十二日 （星期四）上午十時舉行董事會會議，以商討下列事項： 承董事會命 華虹半導體有限公司 董事會主席兼執行董事 白鵬先生 中國上海，二零二六年一月二十九日 1 於本公告日期，本公司董事分別為： 執行董事： 白鵬 （董事會主席兼總裁） 非執行董事： 葉峻 孫國棟 陳博 熊承艷 獨立非執行董事： 張祖同 王桂壎太平紳士 封松林 2 ...

人民财讯1月29日电，港股收盘，恒生指数涨0.51%，恒生科技指数跌1%。内房股大涨，融创中国涨超 29%，世茂集团涨超23%，碧桂园涨超16%，万科企业涨超8%。半导体板块下跌，华虹半导体跌超 5%，中芯国际跌超2%。 转自：证券时报 ...

Group 1 - The semiconductor sector in the Hong Kong stock market experienced a significant decline in the afternoon session, with notable drops in major companies [1] - Hua Hong Semiconductor saw a decline of over 5%, while ASMPT fell by more than 4%, and SMIC dropped over 3% [1] - Other companies such as Shanghai Fudan and Jingmen Semiconductor also followed the downward trend [1]

Core Viewpoint - Chip stocks experienced a significant decline, with notable drops in companies such as Hua Hong Semiconductor, ASMPT, SMIC, and Shanghai Fudan [1] Group 1: Market Performance - Hua Hong Semiconductor (01347) fell by 4.89%, trading at 116.7 HKD [1] - ASMPT (00522) decreased by 4.84%, with a price of 104.2 HKD [1] - SMIC (00981) saw a decline of 3.28%, priced at 76.7 HKD [1] - Shanghai Fudan (01385) dropped by 0.78%, trading at 50.75 HKD [1] Group 2: Industry Developments - NVIDIA's CEO Jensen Huang recently visited China, leading to market speculation about the approval of the H200 chip for entry into China [1] - The introduction of the H200 chip is expected to address the shortage of high-end computing resources in the domestic AI industry, accelerating the development of large models and promoting AI application iterations in the short term [1] - Long-term, the logic of domestic AI chip substitution remains unchanged [1] Group 3: Analysis and Forecast - First Shanghai's report indicates that the impact of the H200's release on the domestic computing power industry chain is very limited [1] - The primary reason is that the H200's main application scenario is in training, while domestic computing power focuses on small to medium models, vertical model training, and inference applications, resulting in low overlap between the two [1] - By 2026, domestic computing power is expected to undergo a generational upgrade, with new products targeting performance comparable to the H100, while the H200's cost-effectiveness in inference scenarios is deemed low [1] - Additionally, domestic computing power is evolving towards super-node directions, further enhancing its cost-performance ratio [1]

Group 1 - Hong Kong chip stocks experienced a significant decline in the afternoon trading session, with notable drops in share prices [1] - Hua Hong Semiconductor (01347.HK) fell by 4.89%, trading at HKD 116.7 [1] - ASMPT (00522.HK) decreased by 4.84%, with shares priced at HKD 104.2 [1] - Semiconductor Manufacturing International Corporation (00981.HK) saw a decline of 3.28%, trading at HKD 76.7 [1] - Shanghai Fudan (01385.HK) dropped by 0.78%, with shares at HKD 50.75 [1]

Core Viewpoint - Chip stocks experienced a significant decline in the afternoon trading session, with major companies like Hua Hong Semiconductor, ASMPT, and SMIC seeing notable drops in their stock prices. The market is reacting to the news of NVIDIA's CEO Jensen Huang visiting China and the potential approval of the H200 chip for entry into the Chinese market, which could address the domestic AI industry's high-end computing resource shortages in the short term, while the long-term logic of domestic AI chip substitution remains unchanged [1]. Group 1 - Hua Hong Semiconductor (01347) fell by 4.89%, trading at 116.7 HKD [1] - ASMPT (00522) decreased by 4.84%, trading at 104.2 HKD [1] - SMIC (00981) dropped by 3.28%, trading at 76.7 HKD [1] Group 2 - The approval of the H200 chip is expected to accelerate the development of large models and promote the iteration of AI applications in the domestic market [1] - First Shanghai's report indicates that the impact of the H200 on the domestic computing power industry chain is very limited, as the primary application scenarios for H200 are in training, while domestic computing power focuses on small to medium models and inference applications, leading to low overlap in application scenarios [1] - By 2026, the domestic computing power is expected to undergo a generational upgrade, with new products targeting performance comparable to H100, while the cost-effectiveness of H200 in inference scenarios is not high [1] - Domestic computing power is evolving towards super-node development, which will further enhance the cost-effectiveness of domestic computing solutions [1]

Market Performance - The Hong Kong stock market continued its upward trend with all three major indices closing higher: Hang Seng Index up 2.58% at 27,826.91 points, Hang Seng Tech Index up 2.53% at 5,900.16 points, and the National Enterprises Index up 2.89% at 9,512.24 points [2] - Leading sectors included optical communications, oil, gold, telecommunications, and real estate, while tea and aviation stocks faced downward pressure [3] Optical Communications - Demand for AI infrastructure has spurred the optical communications industry, with Changfei Optical Fiber Cable (06869.HK) leading the sector, closing up 15.43% at 75.20 HKD [4][5] - Corning, a major player in the fiber optics market, saw a single-day increase of over 15%, reaching a historical high, following a long-term agreement with Meta for the procurement of $6 billion worth of fiber optic cables by 2030 [4] Energy Sector - Geopolitical risks have heightened energy security expectations, with China National Offshore Oil Corporation (00883.HK) and China Petroleum & Chemical Corporation (00857.HK) both reaching historical highs, closing up 4.85% and 4.99% respectively [5][6] - The U.S. military's recent military exercises in the Middle East have raised concerns about energy supply stability, contributing to the rise in oil stocks [6] Gold Market - The weakening U.S. dollar has stimulated international gold prices, with Chifeng Jilong Gold Mining (06693.HK) rising 10.65% [7] - The dollar index experienced its largest single-day drop since April 2023, pushing gold prices above $5,200 per ounce [7] Telecommunications - The telecommunications sector is entering a new phase of "deep integration," with China Telecom (00728.HK) rising 6.27% [9] - The Ministry of Industry and Information Technology reported that the three major operators have added 108,000 data center racks, indicating a shift in focus from "broad coverage" to "deep integration" [9] Real Estate - Regulatory optimizations have boosted confidence in the real estate sector, with China Jinmao (00817.HK) rising 11.92% [11] - Feedback from multiple real estate companies indicates that the regulatory body has lifted the monthly reporting requirements for most firms, enhancing market expectations for liquidity and operational environment improvements [11] Individual Stock Movements - Wuneng Zhixing (00800.HK) rose 2.11% as it prepares to launch autonomous buses in Abu Dhabi [17][18] - Kuaishou-W (01024.HK) increased by 4.44%, with its AI product, Keling, surpassing 12 million monthly active users and achieving a 350% growth in paid users [19]

Group 1: Hong Kong Stock Market Performance - Most property stocks in Hong Kong rose, with China Jinmao (00817) up 7.95%, Greentown China (03900) up 5.79%, and China Overseas Macro Yang Group (00081) up 4.62%. Vanke Enterprises (02202) also saw a gain of 2.49% following significant progress in debt resolution, with the extension proposals for two medium-term notes totaling 5.7 billion yuan approved [1][1]. - Pop Mart (09992) increased by over 4.8%, reflecting confidence in its development as it recently repurchased shares for the first time since early 2024, which is expected to attract more investors [1][1]. - Nanshan Aluminum International (02610) rose over 4.7% after announcing plans to invest approximately 4.37 billion USD (about 30.56 billion yuan) in a new aluminum project in Indonesia [1][1]. Group 2: Notable Company Announcements - Alibaba Health (00241) rose over 3.3% after launching a new feature for its AI medical application "Hydrogen Ion" [2][2]. - GCL Global (GCL.US) increased by 9.91% ahead of its earnings call scheduled for January 30, 2026 [5][5]. - Ericsson (ERIC.US) continued its upward trend with a 4.03% increase after reporting a strong Q4 2025 financial performance, with adjusted EBITA rising 24% year-on-year [5][5]. Group 3: Market Trends and Price Adjustments - The gold market saw a significant rise, with spot gold prices surpassing 5200 USD, leading to a 7.38% increase in the shares of Wan Guo Gold Group (03939) [2][2]. - The semiconductor sector showed strong performance, with stocks like Naxin Micro (02676) up 10.62% and a price adjustment announcement from Zhongwei Semiconductor indicating a price increase of 15% to 50% due to supply-demand pressures [3][4]. - The storage sector also experienced a pre-market surge, with Micron Technology (MU.US) up 5.44% as price increases spread across the storage market [7][7].

Group 1 - Semiconductor stocks are performing strongly, with notable increases in share prices: Naxin Micro up 14.45% to HKD 161.6, Zhaoyi Innovation up 9.84% to HKD 352.6, Huahong Semiconductor up 5.87% to HKD 120.9, and SMIC up 3% to HKD 78.9 [1] - On January 27, 2023, Zhongwei Semiconductor announced a price increase for MCU and Norflash products due to severe supply-demand conditions and significant cost pressures, with price adjustments ranging from 15% to 50% [1] - Guokai Micro also issued a price increase notice, with KGD products seeing price hikes of 40% for 512Mb, 60% for 1Gb, and 80% for 2Gb, while prices for external DDR products will be announced separately [1] Group 2 - Dongguan Securities believes that the AI-driven semiconductor industry is experiencing widespread price increases, which may exert cost pressure on downstream consumer electronics (such as smartphones and computers), potentially affecting terminal shipments [1] - The investment in AI facilities is expected to increase steadily until 2026, which is considered a certain event, suggesting investment opportunities in advanced semiconductor packaging, related equipment, and CPUs [1]

Group 1 - The semiconductor sector in Hong Kong has seen a collective surge, with notable increases in stock prices for companies such as Naxin Micro, which rose over 13% to reach a historical high, and others like Zhaoyi Innovation and Huahong Semiconductor also experiencing significant gains [1] - Two semiconductor companies, Zhongwei Semiconductor and Guokai Micro, have issued price increase notices, indicating that certain chip products will see price hikes ranging from 15% to 80% [1] - Zhongwei Semiconductor has decided to adjust prices for MCU and Norflash products by 15% to 50%, while Guokai Micro announced price increases of 40% for 512Mb KGD products, 60% for 1Gb KGD products, and 80% for 2Gb KGD products starting in January [1] Group 2 - Analysts suggest that the current round of price increases is beneficial for upstream design and storage companies like Zhongwei Semiconductor and Guokai Micro, potentially improving their performance [1] - However, these price hikes may impose cost pressures on downstream manufacturers, which could ultimately lead to higher prices for electronic products for consumers [1]