On July 23, GIGADEVICE rose 4.37% in regular trading, trading at 603.0 HKD/share, with turnover of 188 million HKD.

On the news front, the stock rebounded after the previous session's sell-off triggered by China Life's disclosure that its 8 asset management plans collectively sold approximately 1.1 million shares on July 8, cashing out about 682 million yuan. The prior session saw the stock drop over 6% on this news, but short-term selling pressure has now largely been absorbed.

Supporting the rebound, the company announced a 5 billion yuan capital injection into its wholly-owned subsidiary Zhuhai Hengqin Xinchun Semiconductor to advance its DRAM chip R&D and industrialization project. Additionally, the company's H1 earnings forecast projects net profit growth of approximately 1,099% year-over-year, while BOCOM International initiated coverage with a Buy rating and a target price of 907 HKD, implying significant upside from current levels.

(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.)