Innoscience (02577) soared more than 8% in Hong Kong trading, extending its recent gains. At press time, the stock climbed 7.72% to HK$41.15 with turnover reaching HK$158 million.

The semiconductor firm is accelerating expansion of its 8-inch gallium nitride (GaN) wafer production capacity. Currently operating at 13,000 wafers monthly, Innoscience plans to boost output to 20,000 wafers per month by end-2025. Its long-term target envisions a fivefold increase to 70,000 monthly wafers within five years.

Company projections indicate 12-inch GaN technology won't achieve large-scale commercialization before 2030. Until then, Innoscience will focus on maximizing economies of scale and cost advantages through its 8-inch platform.

As the world's first IDM manufacturer achieving mass production of 8-inch GaN wafers, Innoscience has deep expertise in GaN power devices. Notably, STMicroelectronics (STM), its largest cornerstone investor holding 12.5921 million H-shares (27% of float), pledged not to dilute its stake for 12 months after the lock-up period expired on June 30.