NOVOSENSE (02676) surged over 16% in early trading this morning, reaching a high of HKD 220 and setting a new post-listing record. As of writing, the stock was up 8.7% at HKD 205, with a turnover of HKD 197 million.

The company reported Q1 revenue of RMB 1.141 billion, a year-on-year increase of 59.17%. Its net loss attributable to shareholders narrowed to RMB 35.7365 million, an improvement of 30.39% compared to the same period last year.

Analysis suggests the analog chip industry is entering an upcycle, driven by synergistic demand from emerging sectors like automotive and AI. Breaking down the downstream applications: 1) The automotive electronics industry continues to deepen its trends towards electrification and intelligence. The company has established a comprehensive automotive chip product portfolio through focused development. By the end of 2025, its cumulative shipments in the automotive electronics field had exceeded 1.418 billion units. Its MCU+ products for the three major automotive smart terminals have achieved mass production and vehicle application. 2) The rapid development of the AI server market is driving demand for chips in areas like high-density power management and high-speed data transmission. The company's high-voltage GaN drivers for AI server power supplies have already begun batch shipments.