Hong Kong-listed InnoScience hits two-week high on onsemi tie-up

Shares of InnoScience (Suzhou) Technology 2577.HK jump 6.5% to HK$78.15, their highest level since November 20

Stock on course for the biggest one-day pct rise since October 27

China-based gallium nitride on silicon (GaN-on-Si) semiconductor product producer announced strategic cooperaton agreement with onsemi ON.O to jointly accelerate application and deployment of the GaN industry

InnoScience's GaN manufacturing capabilities will be integrated with onsemi's experience in system packaging and integration, to accelerate implementation of GaN in new energy vehicles, artificial intelligence, data centres and industry - InnoScience

InnoScience expects the deal to bring hundreds of millions of US dollars in GaN sales in coming years to the company while providing a first-mover advantage for both parties in market development and deployment in key areas - InnoScience

YTD, InnoScience stock up 140.6%, Hang Seng TECH Index .HSTECH up 23.6%