GIGADEVICE's stock plummeted 5.12% during intraday trading, reflecting significant selling pressure following the stock's recent surge to record highs.

The decline comes as institutional investors engage in profit-taking after the stock broke through the HK$1,000 milestone. Fund flow data reveals a clear pattern of institutional outflows at elevated price levels, with the stock's trailing PE ratio approaching 170x, creating tension between valuation and fundamentals.

Despite strong fundamental support from memory chip price increases and first-quarter net profit growth of 522.79% year-over-year, the stock faces near-term consolidation pressure after its parabolic advance, with similar distribution patterns observed in its A-share equivalent.