Reported about 1 year ago
World Advanced (5347) stock price has been on an upward trend since rebounding from the quarter line support on April 22, starting from 80 yuan. Recently, the company announced a joint venture with NXP Semiconductors to establish a 12-inch wafer fab in Singapore and global semiconductor giants, resulting in a positive trend. The stock price hit a new high since April 2022 at 111 yuan on the 7th with a bullish technical outlook, suggesting further upside potential in the short term. The joint venture aims to start mass production at the new plant by 2027 and reach a monthly capacity of 55,000 wafers by 2029, with an initial investment of around $7.8 billion, where World Advance will contribute $2.4 billion and hold a 60% stake in the venture.
Source: YAHOO