On July 7, Hua Hong Semiconductor rose 5% in regular trading, trading at HK$187.7/share, with turnover of HK$2.142 billion.

On the news front, Goldman Sachs published a research note on July 6 significantly raising Hua Hong Semiconductor's target price from HK$174 to HK$333, maintaining a \"Buy\" rating. The bank expects that capability upgrades in large-scale AI models will drive demand for AI chips and data center power management chips. Goldman Sachs is bullish on the company's continued 12-inch capacity expansion and product mix migration toward 40nm and 28nm nodes, projecting operating margins to gradually improve from the current 1% to 4%, 8%, and 12%, eventually reaching a normalized level of 14% to 17%.

The stock had previously retreated from recent highs following a strong rally driven by the approval of its acquisition of Huali Micro and wafer foundry price hike expectations. The prior trading session saw a 4.89% decline amid profit-taking and significant southbound capital outflows. Today's rebound was catalyzed by the substantial target price upgrade.

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