On August 17, HUA HONG GRACE rose 3.15% in regular trading, trading at 132.2 HKD/share, with turnover of HKD 691 million.
The rebound follows a sharp selloff on August 14 when shares plunged over 11% after the company issued Q3 revenue guidance of USD 770-780 million, significantly below market consensus of USD 822.3 million. The Q2 results themselves were strong, with record revenue of USD 717.5 million (up 26.8% YoY) and gross margin of 16.5% exceeding expectations. However, the below-consensus forward guidance triggered heavy profit-taking.
Today's recovery is driven by oversold technical conditions and broad semiconductor sector strength, with SMIC rising 3.25% and GigaDevice gaining 4.11%. Jefferies recently maintained a Hold rating while raising its target price to HKD 140, citing faster-than-expected gross margin recovery, though noting that intense competition in mature-node manufacturing and overcapacity risks remain headwinds.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)