GIGADEVICE's stock price soared 5.17% during the intraday session on Monday, reflecting a significant positive market movement.

The surge appears to be driven by strong insider confidence, as the company recently disclosed the exercise results of its stock option incentive plan. Thirty-seven employees exercised a total of 1.25 million shares, generating total profits of approximately RMB 7.14 billion, which signals robust belief in the company's future business prospects among its own personnel.

Furthermore, the company's strong fundamental performance is supporting the positive sentiment. GIGADEVICE reported a remarkable 522.79% year-over-year growth in net profit for the first quarter, with its gross margin improving to 57.08%. This robust performance is reinforced by ongoing tight supply-demand conditions in the storage chip sector.