Changes in Hong Kong stocks | Zhaoyi Innovation (03986) opened more than 5%, and net profit in the first half of the year increased by more than 10 times year-on-year, Changxin Technology's IPO is imminent

The Zhitong Finance App learned that GigaYi Innovation (03986) opened more than 5% higher. As of press release, it had risen 5.26% to HK$990, with a turnover of HK$34.511,000.

According to the news, Zhaoyi Innovation is making a profit. It is estimated that in the first half of the year, net profit attributable to shareholders of listed companies will be around RMB 6.9 billion, an increase of about 1099% over the previous year; operating income will be around RMB 11.5 billion, an increase of about 177% over the previous year. During the reporting period, supply in the memory chip industry was tight, the volume and price of the Group's memory chip products rose sharply, and the profit level of the storage business increased. Microcontroller products benefited from demand in the industrial, consumer and automotive sectors, and the scale of shipments also achieved good growth; the fair value of securities held by the Group rose at the end of the period, and the corresponding confirmed fair value change earnings increased dramatically.

It is worth noting that the high-profile domestic memory chip giant Changxin Technology officially launched the Science and Technology Innovation Board IPO issuance process. The subscription date is July 16. The initial public offering of 6.688 billion shares is planned, and the capital is to be raised 29.5 billion yuan, making it the largest amount of capital to be raised in the Science and Technology Innovation Board IPO. According to public information, Zhaoyi Innovation has a close relationship with Changxin Technology, and Zhu Yiming is at the helm. In addition, Zhaoyi Innovation is also the eighth largest shareholder of Changxin Technology, with a shareholding ratio of 1.80%.