Core Viewpoint - The semiconductor sector in the Hong Kong stock market experienced a significant afternoon rally, with notable gains in several key companies [1] Group 1: Company Performance - Zhaoyi Innovation (03986.HK) saw its stock price increase by over 9% [1] - Huahong Semiconductor (01347.HK) experienced a rise of more than 3% [1] - Other companies such as SMIC (00981.HK) and InnoCare Pharma (02577.HK) also followed the upward trend [1]

Group 1 - The top three stocks with net inflows are Yingfu Fund (02800) with 6.826 billion, Hang Seng China Enterprises (02828) with 2.151 billion, and Kuaishou-W (01024) with 1.553 billion [1] - The top three stocks with net outflows are Tencent Holdings (00700) with -0.920 billion, China Mobile (00941) with -0.365 billion, and China Hongqiao (01378) with -0.257 billion [1] - In terms of net inflow ratio, Jiangsu Ninghu Expressway (00177) leads with 68.66%, followed by COSCO Shipping Ports (01199) with 62.64%, and Beijing Enterprises Water Group (00371) with 62.27% [1] Group 2 - The top ten stocks by net inflow include Xiaomi Group-W (01810) with 1.020 billion and Southern Hang Seng Technology (03033) with 0.944 billion [2] - The top ten stocks by net outflow also include China People's Insurance Group (01339) with -0.255 billion and GCL-Poly Energy (03800) with -0.213 billion [2] - The net outflow ratio for China National Building Material (03323) is -48.46%, followed by Gao Xin Retail (06808) at -48.27% and Swire Properties (01972) at -47.79% [3]

致：香港交易及結算所有限公司 公司名稱: 英諾賽科（蘇州）科技股份有限公司 呈交日期: 2026年1月7日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02577 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 525,541,187 | RMB | | 1 | RMB | | 525,541,187 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 525,541,187 | RMB | | 1 | RMB | | 525,541,187 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- ...

Group 1 - Semiconductor stocks are rising in line with the market, with notable increases in shares of Huahong Semiconductor (up 6.07%), ASMPT (up 4.56%), Horizon Robotics (up 4.39%), and others [1][1][1] - Samsung Electronics and SK Hynix plan to increase server DRAM prices by 60% to 70% in Q1 2026 compared to Q4 2025, with similar price hikes proposed for PC and smartphone DRAM customers [1][1][1] - The National Integrated Circuit Fund's stake in SMIC increased from 4.79% to 9.25% as of December 29, 2025, indicating growing confidence in the semiconductor sector [1][1][1] Group 2 - Guotai Junan states that with the global semiconductor cycle bottoming out and domestic policy and funding support, leading manufacturers like SMIC are expected to experience a recovery in both performance and valuation [1][1][1] - Dongxing Securities highlights the exponential growth in computing power demand driven by generative AI, suggesting a focus on semiconductor storage, testing equipment, and magnetic components as key investment areas [1][1][1]

Group 1 - Semiconductor stocks are rising in line with the market, with notable increases in shares of Huahong Semiconductor (up 6.07%), ASMPT (up 4.56%), Horizon Robotics (up 4.39%), and others [1][1][1] - Samsung Electronics and SK Hynix plan to increase server DRAM prices by 60% to 70% in Q1 2026 compared to Q4 2025, with similar price hikes proposed for PC and smartphone DRAM customers [1][1][1] - The National Integrated Circuit Fund's stake in SMIC's H-shares increased from 4.79% to 9.25% as of December 29, 2025, indicating growing confidence in the semiconductor sector [1][1][1] Group 2 - Guotai Junan states that with the global semiconductor cycle bottoming out and domestic policy and funding support, leading manufacturers like SMIC are expected to experience a recovery in both performance and valuation [1][1][1] - Dongxing Securities highlights the exponential growth in computing power demand driven by generative AI, suggesting a focus on semiconductor storage, testing equipment, and magnetic components as key investment areas [1][1][1]

Market Overview - The Hong Kong stock market indices experienced fluctuations but closed higher, with the Hang Seng Index rising by 0.86% to 25,854.60 points, the Hang Seng Tech Index increasing by 1.74%, and the National Enterprises Index up by 1.12% [1][9]. Technology Sector - The technology sector saw a broad increase, with notable gains in internet companies such as Baidu, which rose over 8%, and both NetEase and Xiaomi, which increased by over 2% [1][9]. - The semiconductor sector was particularly strong, highlighted by InnoTek's surge of over 15%. This growth is attributed to the ongoing AI arms race and a shift in power supply architecture led by Nvidia, transitioning from traditional AC to 800V DC, which is expected to drive a significant upgrade in AI computing infrastructure [2][12]. Robotics Sector - Robotics stocks also saw significant gains, with companies like Yujian rising over 13%. Analysts suggest this increase may be linked to rumors of a potential executive order from the Trump administration regarding robotics in 2026 and recent supplier visits in North America related to Tesla's Optimus project [6][13]. Oil Sector - Oil stocks performed well, with China National Offshore Oil Corporation (CNOOC) increasing by over 3%. CNOOC reported that its offshore gas fields around Hainan Island are projected to exceed 10 million tons of oil equivalent in cumulative production by 2025, marking five consecutive years of production growth and setting a new record for the gas field's development [7][14]. New Listings - Six new stocks were listed today, with notable performances including InnoSilicon rising over 24%, Meilian shares increasing by over 7%, and Wuyi Vision surging by over 29% [8][15].

Group 1 - The Hong Kong semiconductor sector experienced a significant rally towards the end of trading on December 30, with notable gains in several companies [1] - InnoCare Pharma saw an increase of over 15% [1] - SMIC (Semiconductor Manufacturing International Corporation) rose nearly 5% [1] - Hua Hong Semiconductor gained more than 4% [1]

Group 1 - InnoCare Pharma (02577.HK) saw a nearly 15% increase in stock price, reaching a rise of 14.39% to HKD 77.5 [1] - The trading volume for InnoCare Pharma was HKD 729 million at the time of reporting [1]

Core Insights - InnoCare (02577) saw a nearly 15% increase in stock price, reaching 77.5 HKD with a trading volume of 729 million HKD [1] - NXP has confirmed the closure of its "Echo" wafer fab in Chandler, Arizona, with the last batch of wafers expected to be produced in Q1 2027 [1] - TSMC will gradually exit the GaN foundry business by July 2025 and completely cease GaN foundry services by mid-2027 [1] Company Developments - NVIDIA announced partnerships with over ten companies, including CoreWeave and Oracle, to prepare for an 800V DC power architecture and achieve a power density of 1 MW in ultra-high-density computing environments [1] - In August, InnoCare became the only Chinese chip company to join NVIDIA's 800V DC power architecture partner list, providing a full-chain GaN solution for AI data centers, enabling a single cabinet power density breakthrough of 300 kW [1]

Group 1 - InnoLux (02577) saw a nearly 15% increase in stock price, reaching HKD 77.5 with a trading volume of HKD 729 million [1] - NXP has confirmed the closure of its "Echo" wafer fab in Chandler, Arizona, with the last batch of wafers expected in Q1 2027 [1] - TSMC will completely exit the GaN foundry business by mid-2027, having announced a gradual withdrawal in July 2025 [1] Group 2 - NVIDIA has announced partnerships with over ten companies, including CoreWeave and Oracle, to prepare for ultra-high-density computing environments with 800V DC power architecture and 1 MW power density per rack [1] - In August, InnoLux became the only Chinese chip company to join NVIDIA's 800V DC power architecture partnership, providing a full-chain GaN solution for AI data centers, enabling power density breakthroughs of 300 kW per rack [1]