Stock Track | GIGADEVICE Soars 5.09% Intraday as Oversold Recovery Continues, Buyback Plan and Earnings Optimism Lift Sentiment

Stock Track
08/05

GIGADEVICE shares surged 5.09% during intraday trading on Wednesday, extending a sharp rebound from an earlier oversold condition triggered by a limit-down event on its A-share listing earlier in the week.

The rally was fueled by the company’s ongoing buyback and stake-increase initiatives. GIGADEVICE plans to repurchase between RMB 10 billion and 20 billion worth of A-shares for cancellation, while Chairman Zhu Yiming has committed to no share sales for 12 months and intends to increase his holdings by at least RMB 1 billion. An extraordinary shareholders’ meeting is set for August 20 to approve the buyback scheme, and the board will review interim results on August 18, with expectations for solid earnings providing additional support.

The broader semiconductor sector also showed strength, with peers such as HUA HONG GRACE, SMIC, MONTAGE TECH, and SG MICRO all posting gains, further underpinning the positive sentiment around GIGADEVICE.

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