①In the first two months, the export value of integrated circuits increased by nearly 70% year-on-year. How high is the prosperity of the industrial chain? ②The semiconductor sector in Hong Kong’s stock market has once again strengthened. Which specific directions are receiving more market attention?
Cailian Press reported on March 10 (Editor: Feng Yi) that driven by the elimination of macro risk sentiment and positive data catalysts, the semiconductor chip sector in Hong Kong’s stock market collectively strengthened today. Among them, AI-related stocks showed the most active increase.
As of press time, GPU manufacturer Tianshu Zhixin (09903.HK) surged nearly 30%, Montage Technology (06809.HK), which involves memory concepts, rose about 11%, and several other stocks, including Biren Technology (06082.HK), also increased by more than 7%.
In terms of news, data released by the General Administration of Customs on March 10 showed that from January to February, China’s integrated circuit exports amounted to 304.67 billion yuan, a year-on-year increase of 68.9%.
In addition, according to SIA data, global semiconductor sales in January 2026 were $82.54 billion, a year-on-year increase of 46.1%, marking 27 consecutive months of year-on-year growth.
At the micro level, Guoxin Securities further analyzed that SMIC and Hua Hong Semiconductor had capacity utilization rates of 95.7% and 103.8%, respectively, for the fourth quarter of 2025, remaining at relatively high levels. The destocking cycle for analog chips and power semiconductors is nearing its end, and they are currently in an upward cycle.
On the other hand, due to the continued popularity of the OpenClaw concept over the past week, there has been growing attention on the trend toward the localization of AI computing chips.
From a medium-term perspective, the market generally has strong expectations for the approach of the inflection point of generative AI in 2026, and the AI mainline may continue to drive demand across the semiconductor industry chain. NVIDIA previously stated that computing demand is still growing exponentially.
From a fundamental perspective, entering 2026, price increases across the entire industrial chain—from memory chips to power devices, from wafer foundries to packaging and testing—ranged from 10% to 80%.
Huaxin Securities even stated that this round of price increases is fundamentally a result of the explosive growth in AI computing infrastructure strongly displacing traditional production capacity.
Data shows that the global AI chip market size has surged from USD 110 billion in 2019 to USD 726 billion in 2025.
The institution believes that the semiconductor industry is experiencing a wave of price increases that appears to reflect a comprehensive recovery but is actually highly polarized, with structural improvements in supply chain activity. Agentic AI may also drive a revaluation of CPU value.
