Innoscience (02577.HK) Hot Stock Analysis Report

This analysis is based on the mentioned information of hot Hong Kong stocks, focusing on the market performance and business fundamentals of Innoscience (02577.HK). Innoscience is the world’s largest 8-inch silicon-based GaN power semiconductor IDM (Integrated Device Manufacture) manufacturer with full industry chain capabilities, ranking first globally in terms of revenue in 2023 [3]. As a core material for power electronics, gallium nitride demand continues to grow, benefiting from energy efficiency requirements in consumer electronics, renewable energy, automotive electronics, and data centers [0]. In July 2025, the company was included in NVIDIA’s 800V DC power supply architecture partner list (the only one in China) and reached a cooperation agreement with Onsemi, significantly enhancing market recognition [3]. As of 13:31 UTC+8 on December 30, 2025, the company’s share price was HK$76.50, an increase of 11.07% from the previous closing price, with a trading volume of 7.1518 million shares, 4.23 times the 10-day average trading volume, indicating high market attention [2].

1. Strategic Value of Partnerships
   : Entering NVIDIA’s 800V power supply architecture supply chain not only verifies technical strength but also opens up high-end market space in automotive and data centers. Cooperation with global semiconductor giants enhances industry influence [3].
2. Competitive Advantage in Manufacturing Capability
   : As a leading global 8-inch GaN IDM manufacturer, the company has advantages in production efficiency and cost control, which can better meet the large-scale demand of the global GaN market [3].
3. Trading Characteristics Reflect Market Differences
   : A 4.23x increase in trading volume reflects strong participation willingness from institutions and retail investors, but an amplitude of 10.11% and a turnover rate of 1.36% also indicate differences in market expectations [2].

: The global GaN power semiconductor market continues to grow, and the company, as an industry leader, directly benefits; cooperation with NVIDIA and Onsemi will promote product penetration in high-end application scenarios [0][3].

: The company has not yet achieved profitability (PE TTM loss), with a PB ratio as high as 15.32 times, facing great valuation pressure [2]; GaN technology competition is fierce, requiring continuous R&D investment to maintain leadership [0]; cyclical fluctuations in the global semiconductor industry and geopolitical risks may affect business stability [0].

Innoscience is a global leader in the GaN power semiconductor field, gaining market attention with its technical strength and important partnership relationships. Recently, both its share price and trading volume have shown significant changes. Investors need to pay attention to the company’s industry position, technical advantages, and cooperation progress, while noting risks such as high valuation and not yet being profitable, and should conduct independent analysis based on their own situation.