On June 4, GigaDevice (03986.HK) rose 3.6% in regular trading, trading at HKD 778.0/share, with trading volume of HKD 451 million.

On the news front, the FTSE China 50 Index recently completed its quarterly rebalancing, with GigaDevice being newly included. The adjustment, effective after market close on June 18, is expected to attract passive fund inflows. Additionally, Morgan Stanley significantly raised its target price for the company from RMB 348 to RMB 585, citing an expanding supply-demand gap in the storage industry for the second half — Micron's equipment relocation from Taiwan to the US is reducing capacity over the next 2-4 quarters, while SK Hynix's Wuxi plant further cuts DDR4 output. Third-quarter DDR4 prices are projected to rise 20%. The company's Q1 net profit surged 521.7% year-over-year with gross margin reaching 57.1%, confirming the storage upcycle thesis. UBS also increased its stake to 6.02% at approximately HKD 804 per share.

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