Movement Alert｜GigaDevice Rises 4.05% in Regular Trading, CXMT IPO Catalyst Continues to Drive Valuation Re-rating

Market Focus

May 21

On May 21, GigaDevice (03986.HK) rose 4.05% in regular trading, trading at 706.0 HKD/share, with trading volume of approximately 444 million HKD. The stock continues to trade near all-time highs as the CXMT (ChangXin Memory Technologies) IPO catalyst sustains momentum.

The rally is a continuation of the re-rating triggered by CXMT's updated prospectus filed on May 17, which revealed explosive Q1 results — revenue surging 719% year-over-year and net profit soaring over 1,688%. CXMT further guided H1 net profit of 50-57 billion yuan, representing growth of over 2,244%. GigaDevice holds a 1.8% stake in CXMT and maintains deep industrial ties, with its chairman also serving as CXMT's chairman. GigaDevice's own Q1 earnings were equally strong, with revenue up 119% to 4.19 billion yuan and net profit jumping 523%, driven by memory chip supply shortages and price increases across DRAM and NOR Flash products amid the AI-fueled storage super cycle.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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