Core Viewpoint - Tianyue Advanced (02631) has established business partnerships with over half of the top ten global power semiconductor manufacturers, focusing on high-quality silicon carbide substrates for power and RF devices used in electric vehicles, AI data centers, and photovoltaic systems [1] Group 1: Company Performance - Tianyue Advanced's stock rose over 6% in the afternoon, currently up 5.09% at HKD 61.9, with a trading volume of HKD 215 million [1] Group 2: Industry Insights - According to Huaxi Securities (002926), addressing the thermal management issues of CoWoS packaging is crucial for the development of AI computing chips [1] - If CoWoS replaces Interposer with SiC, and assuming a 35% compound annual growth rate (CAGR) over 28 years with a 70% replacement of SiC, it is projected that over 2.3 million 12-inch SiC substrates will be needed by 2030, equivalent to approximately 9.2 million 6-inch substrates, significantly exceeding current production capacity [1]

Group 1 - The company Dongwei Semiconductor (688261.SH) expects to have sales transactions with client A amounting to 155 million yuan from January to July 2026, which represents 15.45% of similar business activities [1] - The actual transaction amount with client A from January to October 2025 was 98.4586 million yuan [1] - Client A will no longer be considered an associated party of the company starting from the end of July 2026 [1]

Core Viewpoint - InnoCare (02577) has seen a significant stock price increase following the announcement of a strategic partnership with ON Semiconductor to accelerate the application and layout of Gallium Nitride (GaN) technology [1] Group 1: Strategic Partnership - InnoCare has entered into a strategic cooperation with ON Semiconductor to enhance the application of GaN technology [1] - The partnership will integrate InnoCare's advanced GaN manufacturing capabilities with ON Semiconductor's expertise in system packaging and integration [1] - This collaboration aims to expedite the deployment of GaN technology in key sectors such as electric vehicles, artificial intelligence, data centers, and industrial applications [1] Group 2: Financial Implications - The strategic partnership is expected to generate several hundred million dollars in GaN sales for InnoCare over the coming years [1] - The collaboration is anticipated to provide both companies with a competitive edge in market expansion and positioning within the aforementioned critical sectors [1]

香港聯合交易所有限公司及證券及期貨事務監察委員會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，並明確表示概不就因本公告全部或任何部分內容而產生或依賴該 等內容而引致的任何損失承擔任何責任。 BASiC Semiconductor Co., Ltd. 深圳基本半導體股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 警告 本公告乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會 （「證監會」）的要求而刊發，僅用作提供資料予香港公眾人士。閣下閱覽本公告， 即代表閣下知悉、接納並向本公司、其聯席保薦人、保薦人兼整體協調人、整體 協調人、顧問或承銷團成員表示同意： 1 (a) 在聯交所網站登載本公告，並不引起本公司、本公司的聯席保薦人、保薦人 兼整體協調人、整體協調人、顧問或承銷團成員在香港或任何其他司法權區 必須進行發售或配售活動的責任。本公司最終會否進行發售或配售仍屬未知 之數； (b) 本公告所涉及的上市申請並未獲批准，聯交所及證監會或會接納、發回或拒 絕有關的公開發售及╱或上市申請； (c) 本公告不應被視為誘導認購或購買任何證券，亦無意作出該等勸誘； (d) 本公司或 ...

Core Viewpoint - ON Semiconductor's stock price increased by over 6.4% to $54.78 following the announcement of a strategic partnership with Innoscience to advance the application and layout of gallium nitride technology [1] Group 1: Strategic Partnership - Innoscience and ON Semiconductor have formed a strategic collaboration to accelerate the application of gallium nitride technology [1] - The partnership will integrate Innoscience's advanced gallium nitride manufacturing capabilities with ON Semiconductor's expertise in system packaging and integration [1] - This collaboration aims to expedite the deployment of gallium nitride in sectors such as electric vehicles, artificial intelligence, data centers, and industrial applications [1]

Group 1: Company Announcements - JD Industrial (07618) plans to globally issue 211 million shares, with an expected listing date of December 11 [1] - China Gas (00384) adheres to its "green city operator" strategy, building a multi-energy complementary energy system and ecological collaboration, signing a strategic cooperation agreement with EVE Energy [1] - China Nuclear International (02302) indirectly controlled parent company China Uranium Industry officially listed on the Shenzhen Stock Exchange, highlighting its enhanced capital market position [1] - Innoscience (02577) and ON Semiconductor have reached a strategic cooperation agreement to accelerate the development of the gallium nitride industry ecosystem [1] - Innoscience (02577) won a lawsuit against Infineon, with the ITC ruling that the two involved patents were not infringed [1] - Wangshan Wangshui-B (02630) and Ascletis Pharma (02096) signed a licensing agreement for the new indication of VV116 [1] - China Biopharmaceutical (01177) received approval for the launch of the Rotigotine patch [1] - Dechra Pharmaceuticals-B (06996) received approval in Hong Kong for the use of Hivio® in treating multiple myeloma and diffuse large B-cell lymphoma [1] - Xianruida Medical-B (06669) received approval from the National Medical Products Administration for the registration application of the microcatheter V-otter [1] - Jiajie Ankang-B (02617) had its Tiengogatin tablets approved for inclusion in the priority review list by the National Medical Products Administration [1] - Yuexiu Transportation Infrastructure (01052) plans to acquire 85% equity of Shandong Qinbin Expressway for 1.1535 billion yuan [1] Group 2: Share Buybacks and Holdings - Tencent Holdings (00700) repurchased 1.04 million shares for 636 million HKD on December 3 [2] - Xiaomi Group-W (01810) spent approximately 302 million HKD to repurchase 7.5 million shares on December 3 [2] - Midea Group (00300) repurchased 121.27 million A-shares for 99.9984 million yuan on December 3 [2] - SF Express (06936) repurchased 163.86 million A-shares for 62.1907 million yuan on December 3 [2] - COSCO Shipping Holdings (01919) repurchased 3 million shares for 41.3725 million HKD on December 3 [2] - China Feihe (06186) repurchased 400,000 shares for 16.7927 million HKD on December 3 [2] - Galen Pharmaceuticals-B (01672) repurchased 130.6 million shares for 15.9275 million HKD on December 3 [2] - Fenbi (02469) repurchased 453.05 million shares for 14.359 million HKD on December 3 [2] - Jieli Trading Treasure (08017) saw Chairman and Executive Director Liu Yong increase holdings by 1 million shares [2] - Yiming Anke-B (01541) had Executive Director Tian Wenzhi increase holdings by 50,000 H-shares [2] - Dongfang Electric (01072) announced that Senior Vice President Wang Jun plans to reduce holdings by no more than 6,250 shares [2] - Red Star Macalline (01528) shareholder Hangzhou Haoyue plans to reduce holdings by no more than approximately 131 million shares [2] Group 3: Operating Performance - Agile Group (03383) reported a total pre-sale amount of approximately 8.08 billion yuan in the first 11 months, a year-on-year decrease of 45.2% [2]

Core Points - Mingwei Electronics (688699.SH) announced that its wholly-owned subsidiary, Tongling Qiming Semiconductor Technology Co., Ltd., received government subsidies totaling RMB 1.1008 million, which are related to revenue [1][3] - The company will account for the subsidies according to relevant regulations, and the final impact on operating performance will depend on the annual audit results [3] - For the first three quarters of 2025, Mingwei Electronics reported revenue of RMB 462 million and a net loss attributable to shareholders of RMB 26.51 million, indicating pressure on profitability amid industry fluctuations and increased competition [3] - The government subsidies will not alter the company's main business structure or development direction, although there remains some uncertainty regarding subsequent matters [3] Financial Performance - Revenue for the first three quarters of 2025 was RMB 462 million [3] - Net loss for the same period was RMB 26.51 million [3] - The government subsidy amount is relatively limited compared to the company's overall revenue scale [3]

Market Overview - The Hong Kong stock market experienced a decline on December 3, with the Hang Seng Index closing at 25,760.73 points, down 1.28% [2] - The total market turnover for the day was 1,644 million HKD, with southbound funds net buying 22.79 million HKD [2] Southbound Capital Activity - Southbound funds have net bought Alibaba for 15 consecutive days, accumulating a total of 286.49 million HKD [6] - On December 3, net purchases included Xiaomi Group at 8.7 million HKD, Alibaba at 4.27 million HKD, and Meituan at 2.97 million HKD, while Tencent Holdings saw a net sell-off of 7.32 million HKD [6] Semiconductor Sector - Semiconductor stocks showed resilience, with notable gains including Huahong Semiconductor up 1.58% and Hard Egg Innovation up 1.02% [3] AI and GPU Market Insights - HSBC's investment management head for China and core Asia, Shen Yu, indicated that China's AI capital expenditure story is just beginning, with significant growth expected in domestic GPU and AI computing power over the next 12 to 18 months [5] - The domestic GPU replacement rate is projected to rise rapidly to over 50% in the coming years, potentially reaching 79%, which will drive the development of AI applications in China [5] Stock Index Changes - FTSE Russell announced the inclusion of companies such as CATL and China Hongqiao into the FTSE China 50 Index, effective December 22 [11] - The changes will also see the removal of companies like CITIC Securities and Great Wall Motors from the index [11] Regulatory Actions - The Hong Kong Securities and Futures Commission has instructed the Hong Kong Stock Exchange to suspend trading of Daxian Education shares starting December 3, 2025, amid ongoing investigations [12][15]

东微半导公告称，公司于2025年12月3日召开相关会议，审议通过2026年度日常关联交易预计议案。 2026年1-7月预计与关联方客户A出售商品及服务金额1.55亿元，占同类业务比例15.45%；2025年1-10月 实际发生9845.86万元，占比9.81%。公司与客户A关联关系将于2026年7月底解除。该事项尚需股东会 审议，关联股东需回避表决。保荐机构中金公司同意上述预计事项。 ...

Core Viewpoint - Onsemi and Innoscience have signed a Memorandum of Understanding (MoU) to explore opportunities for accelerating the deployment of Gallium Nitride (GaN) power devices, starting with 40-200V power devices, to significantly expand their customer base [1][2]. Group 1: Collaboration Benefits - The collaboration aims to overcome existing barriers to GaN deployment, focusing on mainstream market applications such as industrial, automotive, telecommunications, consumer electronics, and AI data centers [2][3]. - Benefits for Onsemi's customers include faster time-to-market through rapid prototyping and design integration, scalable manufacturing capabilities to meet high demand, and reduced system costs due to optimized packaging and simplified thermal management [2][3]. Group 2: Market Potential and Growth - GaN technology is expected to play a crucial role in improving electronic products by enabling smaller, more efficient power systems, thereby saving energy and reducing CO2 emissions [3]. - The GaN market is projected to reach $2.9 billion by 2030, with Onsemi expected to capture 11% of the global power semiconductor market, growing at a compound annual growth rate (CAGR) of 42% from 2024 to 2030 [3][4]. Group 3: Product Portfolio Expansion - The partnership will enhance Onsemi's comprehensive smart power product portfolio, which currently includes silicon, silicon carbide (SiC), and GaN technologies, allowing for optimal power systems across various applications [4]. - This integrated product offering positions Onsemi as a leading supplier of fully integrated power systems, maximizing performance and energy efficiency amid rising global electrification and AI energy demands [4].