Movement Alert|GigaDevice Rises 3.61% in Regular Trading, CXMT IPO Approval and Global Memory Rally Continue to Fuel Momentum

Market Focus
05/29

On May 29, GigaDevice (03986.HK) rose 3.61% in regular trading, trading at 804.0 HKD/share, with trading volume of approximately 407 million HKD, as the stock continued to trade near all-time highs.

The rally extends gains driven by multiple catalysts in recent sessions. ChangXin Memory Technologies (CXMT) received approval from the SSE Listing Committee on May 27 for its STAR Market IPO, a landmark event for China's DRAM industry. GigaDevice holds 1.8% of CXMT and maintains a deep business collaboration, with projected related-party procurement from CXMT expected to reach 5.7 billion yuan in fiscal year 2026, up from 1.18 billion yuan previously. Additionally, Micron Technology surged over 19% earlier in the week, pushing its market cap past one trillion USD, with UBS raising its target price to 1,625 USD, signaling strong global memory sector momentum.

GigaDevice has clarified that its CXMT stake is accounted for under other equity instrument investments, meaning fair value changes from CXMT's listing will not directly impact net profit. The company reported Q1 revenue of 4.188 billion yuan and net profit of 1.461 billion yuan.

(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.)

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