On July 20, Montage Technology rose 6.04% in regular trading, trading at HKD 272.8/share, with turnover of HKD 110 million. The rebound was driven by a combination of a strong H1 profit alert, a proposed share buyback, and supportive analyst commentary following a steep selloff triggered by a Korean antitrust investigation.

The company disclosed expected H1 revenue of approximately RMB 3.335 billion, up 26.6% year-over-year, with attributable net profit of RMB 1.9-2.1 billion, representing growth of 63.9%-81.2%. Chairman Yang Chonghe proposed a share buyback of RMB 300-600 million to support investor confidence. Citi maintained a Buy rating with a HKD 305 target, stating that strong results and the buyback help stabilize price volatility. CLSA maintained a High Conviction Outperform rating with a HKD 454.2 target, noting that MIC pricing follows a structured, technology-driven framework, making substantive pricing misconduct unlikely, and that the pullback offers an attractive accumulation opportunity.

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