On June 18, GigaDevice (03986.HK) rose 3.44% in regular trading, trading at 866.5 HKD/share, with turnover of 297 million HKD.

On the news front, GigaDevice was formally included in the FTSE 50 Index on June 18, with passive allocation funds expected to bring incremental buying demand. Simultaneously, global niche storage supply-demand remains tight, as major manufacturers shift mature process capacity toward HBM and advanced products. According to TrendForce, NOR Flash and SLC NAND contract prices have accumulated gains exceeding 100% and 130%-150% respectively in the first half of the year.

Fundamentally, the company reported Q1 net profit surging 522.79% year-over-year to 1.461 billion yuan, with gross margin rising 12.17 percentage points sequentially to 57.08%. The company is among the few capable of expanding DDR4 capacity through its partnership with CXMT during the current supply shortage, while its customized DRAM products for automotive and edge AI applications are expected to contribute revenue in H2.

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