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<Research> INNOSCIENCE (02577.HK) Reverses to Drop Nearly 8% After Higher Open; CLSA Reiterates Outperform
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INNOSCIENCE (02577.HK) opened 3.89% higher today and once reached a peak of HKD89.7. It is now quoted at HKD79.35, down 7.95%, with turnover of 13.2553 million shares, involving HKD1.081 billion. CLSA said in a report that INNOSCIENCE has made steady progress in its 800V DC server business. The broker expects that, as a global leader in gallium nitride (GaN) power semiconductors, the company will continue to benefit from rising GaN penetration in data center applications. The report noted that competitors are raising prices of silicon-based MOSFET and IGBT chips due to strong data center demand and supply shortages. INNOSCIENCE is collaborating with leading AI chip platforms to develop 800V DC power architectures for AI data centers. Its GaN products have been sent as samples for 800V AI servers and are undergoing testing, with overall progress proceeding smoothly. In addition, regarding the patent infringement lawsuit filed by Infineon, the US International Trade Commission (ITC) has issued its final ruling. INNOSCIENCE prevailed on four of six claims, while the remaining two, which involve import bans, only apply to discontinued legacy products and have no material impact on the companys current GaN product sales in the US and globally. CLSA expects INNOSCIENCEs revenue to increase from RMB1.213 billion in 2025 to RMB7.655 billion in 2028. It lowered its earnings forecasts for 2027 and 2028 by 5% each, maintained an Outperform rating, and set a TP of HKD113.6. (ad/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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