On June 24, Novosense (02676.HK) rose 5.21% in regular trading, trading at 217.8 HKD/share, with turnover of approximately 52.87 million HKD. The rally was driven by continued catalysts from GaN domestic substitution expectations and AI server isolated power demand.

On the news front, Infineon's GaN power device sales ban, coupled with South Korea's investment of 750 billion KRW in SiC/GaN power semiconductors, has intensified global supply chain security concerns and accelerated downstream domestic substitution. As a leading domestic isolated gate driver chip company, Novosense is deeply aligned with top GaN manufacturers such as Innoscience, strategically positioned in AI server 800V high-voltage power systems and new energy vehicle powertrain systems, with GaN driver orders expected to materialize.

Additionally, the company recently launched discrete and integrated isolated power solutions tailored for high-power AI server scenarios. It also announced the adoption of an H-share plan and an A-share restricted stock incentive plan covering 528 core personnel. Within the semiconductor sector, the broader segment showed strength, with HUA HONG GRACE up 17.14%, SMIC up 8.61%, and GIGADEVICE up 7.21%.

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