Movement Alert｜GigaDevice Rises 3.18% in Regular Trading, Rebounding as CXMT IPO Catalyst and Global Memory Boom Continue

Market Focus

Jun 01

On June 1, GigaDevice (03986.HK) rose 3.18% in regular trading, trading at 763.5 HKD/share, with trading volume of approximately 565 million HKD. The stock is rebounding after falling nearly 20% from its weekly high of 917.5 HKD recorded in late May.

The recovery comes as CXMT (ChangXin Memory Technologies) IPO momentum continues following its successful passage through the SSE listing committee on May 27 and immediate submission for registration. CXMT plans to raise 29.5 billion yuan in what would be the second-largest IPO in STAR Market history. Additionally, the global memory sector remains buoyant after Micron Technology surpassed a $1 trillion market cap, with UBS projecting further upside driven by AI infrastructure buildout transforming the traditionally cyclical memory industry.

GigaDevice previously clarified that it holds only 1.8% of CXMT and that any fair value changes from the IPO would not directly impact its net profit. The company reported Q1 revenue of 4.188 billion yuan, up 119% year-over-year, with net profit surging 523% to 1.461 billion yuan, reflecting strong underlying business momentum in the AI-driven storage 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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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