On June 2, GigaDevice (03986.HK) fell 3.25% in regular trading, trading at 679.5 HKD/share, with trading volume of approximately 330 million HKD. The stock has retreated significantly from its all-time high of 917.5 HKD reached in late May.

The decline extends the ongoing correction driven by controlling shareholder Zhu Yiming's large-scale share reduction plan. Between May 11 and May 25, Zhu cumulatively reduced his holdings by 6.33 million shares through block trades and centralized bidding, cashing out between 2.14 billion and 2.57 billion yuan. The reduction plan, first disclosed in early April, permits sales of up to 11.21 million shares through July, meaning further selling pressure remains ahead.

The broader semiconductor sector is also under pressure, with peers including Montage Technology down 3.65%, Iluvatar CoreX down 4.93%, and InnoScience down 2.82%. Industry analysts have noted that following sustained rallies, the A-share and H-share semiconductor sectors have reached historically elevated crowding levels, creating conditions for technical pullbacks.

(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.)