A Hong Kong-listed maker of silicon and rubber keypads yesterday surged the most on record after saying it won an order to make masks for Beijing.
Ta Yang Group Holdings Ltd (大洋集團) soared as much as 129 percent to HK$0.63, the highest since November 2018, and was up 35 percent as of the midday break. About 62 million shares changed hands, 275 times Ta Yang’s three-month daily average.
The company said in an exchange filing late on Thursday that it received an order from China’s state-owned Assets Supervision and Administration Commission to make 5 million masks.
Ta Yang, which was not a mask maker before the COVID-19 outbreak in China, added it would be collaborating with a technology firm in Shenzhen to produce the masks and is seeking more orders while exploring the market for personal protective equipment.
Ta Yang, which generates most of its revenue from silicone rubber products and has posted annual losses from 2012 through 2018, is the latest stock in Hong Kong this week to benefit from the global shortage of masks due to the coronavirus.
Moody Technology Holdings Ltd (宏太控股) surged 220 percent on Tuesday after saying it would make masks. Ladies’ apparel producer Veeko International Holdings Ltd (威高國際) and toymaker Kin Yat Holdings Ltd (建溢集團) jumped 79 percent and 18 percent respectively on Thursday after saying they would transform their facilities to make masks.
Hong Kong Television Network Ltd, which operates an online shopping mall that sells masks, has surged 42 percent this year.
TECH BOOST: New TSMC wafer fabs in Arizona are to dramatically improve US advanced chip production, a report by market research firm TrendForce said With Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) pouring large funds into Arizona, the US is expected to see an improvement in its status to become the second-largest maker of advanced semiconductors in 2027, Taipei-based market researcher TrendForce Corp (集邦科技) said in a report last week. TrendForce estimates the US would account for a 21 percent share in the global advanced integrated circuit (IC) production market by 2027, sharply up from the current 9 percent, as TSMC is investing US$65 billion to build three wafer fabs in Arizona, the report said. TrendForce defined the advanced chipmaking processes as the 7-nanometer process or more
OPEN SCIENCE: International collaboration on math and science will persevere even if the incoming Trump administration imposes strict controls, Nvidia’s CEO said Nvidia Corp CEO Jensen Huang (黃仁勳) said on Saturday that global cooperation in technology would continue even if the incoming US administration imposes stricter export controls on advanced computing products. US president-elect Donald Trump, in his first term in office, imposed restrictions on the sale of US technology to China citing national security — a policy continued under US President Joe Biden. The curbs forced Nvidia, the world’s leading maker of chips used for artificial intelligence (AI) applications, to change its product lineup in China. The US chipmaking giant last week reported record-high quarterly revenue on the back of strong AI chip
Qualcomm Inc’s interest in pursuing an acquisition of Intel Corp has cooled, people familiar with the matter said, upending what would have likely been one of the largest technology deals of all time. The complexities associated with acquiring all of Intel has made a deal less attractive to Qualcomm, said some of the people, asking not to be identified discussing confidential matters. It is always possible Qualcomm looks at pieces of Intel instead or rekindles its interest later, they added. Representatives for Qualcomm and Intel declined to comment. Qualcomm made a preliminary approach to Intel on a possible takeover, Bloomberg News and other media
LIMITED MEASURES: The proposed restrictions on Chinese chip exports are weaker than previously considered, following lobbying by major US firms, sources said US President Joe Biden’s administration is weighing additional curbs on sales of semiconductor equipment and artificial intelligence (AI) memory chips to China that would escalate the US crackdown on Beijing’s tech ambitions, but stop short of some stricter measures previously considered, said sources familiar with the matter. The restrictions could be unveiled as soon as next week, said the sources, who emphasized that the timing and contours of the rules have changed several times, and that nothing is final until they are published. The measures follow months of deliberations by US officials, negotiations with allies in Japan and the Netherlands, and
RSS