Hua Hong Semiconductor (1347.HK) shares continued to recover on May 17, rising 4.24 per cent to HK $28.3, with a total market capitalization of HK $36.84 billion, up about 15 per cent over the past three trading days. The company previously released quarterly results that sales revenue in the first quarter of this year reached another record high of $594.6 million, up 95.1% from a year earlier and 12.6% from a month earlier. The profit attributable to the owners of the parent company was $102.9 million, up 211.4% from a year earlier and down 22.9% from a month earlier. First Shanghai refers to the company's Q1 profit significantly exceeding expectations, maintaining the buy rating, with a target price of HK $40. Southwest Securities refers to the first coverage, given a "buy" rating, the company is expected to return to the home net profit compound growth rate of 23.8% in the next three years.