On June 29, Hua Hong Grace rose 3.22% in regular trading, trading at HK$203.8/share, with turnover of HK$1.62 billion. The semiconductor sector staged a broad-based rebound, with peers SMIC up 3.94%, Montage Technology up 8.48%, and GigaDevice up 8.77%.

On June 26, chip stocks had suffered a sharp selloff triggered by Apple's memory chip shortage-driven price hikes and the Korean KOSPI index hitting circuit breakers with an intraday drop exceeding 8%. Hua Hong Grace fell over 6% that day. Following the short-term correction, market sentiment has recovered, supported by medium-to-long-term catalysts including the Shanghai Stock Exchange's approval of the company's acquisition of 97.5% equity in Shanghai Huali Microelectronics for 8.27 billion yuan, and TSMC's across-the-board 5%-10% price increases on all advanced process nodes below 7nm covering approximately 75% of wafer revenue.

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