Cooling manufacturer Chi Hong (3017) registered a historic revenue of 9.88 billion TWD in May, driven by the demand for AI servers and ASIC applications, marking an 87% year-on-year increase. The stock closed at 724 TWD, representing a rise of 3.28%. US foreign investors are optimistic about Chi Hong's prospects in the AI server sector, raising their target price to 820 TWD with a 'buy' rating.

According to Chi Hong's latest report, the revenue for May was up 8.47% month-on-month, and year-to-date revenue for 2025 reached 42.321 billion TWD, a year-on-year increase of 64.16%. The growth in revenue was attributed to the production and shipment of ASIC servers and improved assembly yields of the GB200.

Chairman Shen Qingxing noted that due to limited production capacity failing to meet market demand, Chi Hong plans to invest further in Vietnam, with three new factories already under construction.

Encouraged by strong financial results, Chi Hong’s stock saw increased trading volume, opening at 704 TWD, peaking at 724 TWD, hitting a low of 702 TWD, and closing at 724 TWD with an increase of 23 TWD. This positive trend also benefited peer companies like Shuanghong (3324) and Jiancai (3653), which closed at 631 TWD (up 18 TWD, +2.94%) and 1475 TWD (up 55 TWD, +3.87%) respectively.