NEXCHIP's stock price surged 5.28% during intraday trading on Wednesday, marking a significant upward movement for the semiconductor company.

The sharp rise follows news of a substantial share transfer involving HK$479 million, which represents 7.39% of the company's issued share capital. The transaction involved a transfer of 3.6451 million shares to Morgan Stanley Hong Kong Securities, while 2.5639 million shares were transferred out of Cinda International Securities.

NEXCHIP, which made its debut on the Hong Kong Stock Exchange recently, is a leading 12-inch pure-play semiconductor wafer foundry that occupies a critical position in the global semiconductor value chain. The company mass-produces high-quality processed wafers based on integrated circuit design blueprints for various semiconductor companies.