02577.HK (Innoscience) Hot Stock Analysis: Impact and Prospects of ON Semiconductor GaN Collaboration

02577.HK (Innoscience) made it to the East Money App Hong Kong stock hot list on December 11, 2025, with the main catalyst being the announcement of a strategic collaboration with ON Semiconductor on GaN power device development on December 3. GaN technology plays a key role in high-growth areas such as electric vehicles (EV), artificial intelligence (AI) systems, data centers, and industrial applications, and this collaboration is expected to accelerate the adoption of GaN technology [0]. The market’s positive reaction is reflected in the stock price performance: On December 5, the stock price rose 7.27% to HK$82.6; on December 8, it further rose 6.49% to HK$86.1 with a trading volume of HK$361 million; as of December 10, the stock price was HK$83.15, up 2.213% from the previous trading day [0]. Analysts set a target price of approximately HK$104.85, representing a 29.68% upside from the current stock price, reflecting optimistic expectations for the company’s growth potential [0].

1. The high-growth trajectory of the GaN market (driven by demand from EV, AI, and data centers) makes this collaboration an important long-term growth driver for 02577.HK [0].
2. Collaboration with ON Semiconductor, a well-known enterprise in the semiconductor industry, enhances 02577.HK’s credibility and technical capabilities, which may accelerate the market adoption of its GaN products [0].
3. The gap between the current analyst target price and the stock price indicates that despite the company’s current loss status, investors are still pricing in future growth opportunities [0].

• Expand into high-growth areas such as EV, AI, and data centers through GaN technology applications [0].
• Strengthen technical and market positioning through collaboration with ON Semiconductor [0].
• Potential to reach the analyst target price of HK$104.85 [0].

• 02577.HK is currently in a loss-making state, with a trailing 12 months (TTM) earnings per share (EPS) of -HK$1.16 [0].
• Volatile stock price performance after the collaboration announcement, fluctuating between HK$82.6 and HK$86.1 in early December [0].
• Original shareholders may sell shares after the lock-up period expires, putting downward pressure on the stock price [0].

02577.HK (Innoscience) became a Hong Kong hot stock due to its strategic collaboration with ON Semiconductor on GaN power device development. Since the announcement on December 3, 2025, the stock price has risen significantly, and analysts expect a 29.68% upside to HK$104.85. This collaboration allows the company to capture the growing demand for GaN in high-tech fields. However, investors should note the company’s current loss status, stock price volatility, and potential risk of original shareholders selling shares after the lock-up period expires.