SHA:688347

Hua Hong Grace to Acquire IC Wafer Foundry for 8.27 Billion Yuan; Shares Up 4%

Hua Hong Grace Semiconductor (HKG:1347, SHA:688347) plans to acquire approximately 97.5% of Shanghai Huali Microelectronics for a consideration of 8.27 billion yuan, according to a Shanghai bourse filing on Tuesday.Shanghai Huali Microelectronics produces 12-inch integrated circuit wafer foundry products.The consideration will be funded through the placement of 190,768,392 shares for 43.34 yuan per share.The funds will be used to pay the investors currently owning Huali, Huahong Group, Shanghai Integrated Circuit Fund, National IC Fund Phase II and SDIC Pioneer Fund.The semiconductor company's Shanghai shares jumped 4%, while Hong Kong shares rose 1% during the midday trade.

Hua Hong Semiconductor Changes Name to Hua Hong Grace Semiconductor

Hua Hong Semiconductor (HKG:1347, SHA:688347) changed its English name to Hua Hong Grace Semiconductor, effective May 27, according to a Wednesday filing with the Hong Kong bourse.Shares of the semiconductor company were up over 5% in Thursday afternoon trading.The firm's stock short name will be changed to HUA HONG GRACE from "HUA HONG SEMI" effective June 8.

Hua Hong Semiconductor's Profit Soars 458% in Q1

Hua Hong Semiconductor's (HKG:1347, SHA:688347) attributable profit surged 458% to $20.9 million in the first quarter of 2026 from $3.8 million a year prior, according to a Thursday Hong Kong bourse filing.Earnings per share were $0.012, up from $0.002 in the corresponding period of the previous fiscal year.Revenue climbed 22% to $660.9 million from $540.9 million in the year-ago period, driven mainly by a rise in wafer shipments and an improved average selling price.The semiconductor firm expects a revenue of between $690 million and $700 million for the second quarter of 2026.

Market Chatter: US Halts Chip Equipment Shipments to Hua Hong; Shanghai Shares Drop 5%

The U.S. Department of Commerce has ordered equipment suppliers, including Lam Research, Applied Materials, and KLA, to immediately stop shipping advanced tools to Hua Hong Semiconductor (HKG:1347, SHA:688347), Reuters reported Tuesday, citing two people familiar with the matter.The move targets Hua Hong facilities that U.S. officials believe may produce China's most sophisticated chips, according to the report.Last month, Reuters reported, citing sources, that Hua Hong's contract chipmaker Huali Microelectronics is preparing to launch its 7-nanometer chipmaking process at its Shanghai plant.The Commerce Department's letters to suppliers also seek to prevent shipments to Huali, sources told Reuters.Hua Hong's shares fell 5% in Shanghai and 4% in Hong Kong Wednesday morning.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Morgan Stanley Upgrades Hua Hong Semiconductor to Equalweight from Underweight; Price Target is HK$88