On July 10, GigaDevice (03986.HK) rose 6.17% in regular trading, trading at 965.0 HKD/share, with turnover of 669 million HKD.

On the news front, the company released a positive earnings forecast after market close on July 9, projecting H1 net profit attributable to shareholders of approximately 6.9 billion yuan, representing a year-over-year increase of approximately 1,099%. Based on Q1 net profit of 1.461 billion yuan, Q2 net profit is estimated at approximately 5.439 billion yuan, an increase of roughly 272% quarter-over-quarter.

The company stated that during the reporting period, tight supply conditions in the memory chip industry drove both volume and price increases for its storage products, significantly elevating storage segment profitability. Additionally, microcontroller products benefited from demand in industrial, consumer, and automotive sectors, with shipment volumes achieving solid growth. The simultaneous improvement in revenue scale and earnings quality propelled overall operating performance to substantial gains.

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