Shares of GigaDevice (03986) surged nearly 9% during the morning trading session, reaching a new all-time high. At the time of writing, the stock was up 8.50%, trading at HK$1,175, with a turnover of HK$1.965 billion.

Citi has indicated that, according to market speculation, Apple has shown interest in memory chips from ChangXin Storage. This recognition is seen as transforming ChangXin Storage's narrative from one of "domestic substitution" to that of a "credible global fourth-largest DRAM manufacturer." The bank believes that obtaining approval for Apple to procure memory from ChangXin Storage may face challenges, but Apple's consideration alone serves as a strong endorsement of ChangXin Storage's technological progress. It is anticipated that this news will have a positive impact on ChangXin Storage and its associated supply chain.