Movement Alert|GigaDevice Rises 6.67% in Regular Trading, CXMT IPO Hearing Scheduled for Today Catalyzes Upside

Market Focus
05/27

On May 27, GigaDevice (03986.HK) rose 6.67% in regular trading, trading at 897.5 HKD/share, with trading volume of approximately 255 million HKD, hitting a fresh all-time high.

The rally was directly catalyzed by ChangXin Memory Technologies (CXMT) facing its STAR Market IPO hearing today. GigaDevice holds 1.8% of CXMT, and its chairman Zhu Yiming concurrently serves as CXMT's chairman. CXMT's updated prospectus revealed explosive Q1 revenue of 50.8 billion yuan and net profit of 24.76 billion yuan, with H1 net profit projected at 50-57 billion yuan. The company plans to raise 29.5 billion yuan for DRAM manufacturing upgrades.

Beyond the IPO catalyst, GigaDevice benefits from a structural supply shortage in niche memory. As global memory giants redirect capacity toward HBM and advanced products for AI, legacy 2D NAND and SLC NAND face widening supply gaps. GigaDevice, as China's leading NOR Flash and SLC NAND designer, reported Q1 gross margin of 57.07%, up 12.17 percentage points quarter-over-quarter, with all three product lines entering an upcycle.

(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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