Movement Alert｜GIGADEVICE Falls 3.15% in Regular Trading, CXMT IPO Siphon Effect and Memory Price Peak Warning Continue to Weigh

Market Focus

Jul 29

On July 29, GIGADEVICE fell 3.15% in regular trading, trading at 432.8 HKD/share, with turnover of 480 million HKD. The stock extended its recent weakness, having retreated over 50% from its high last month.

On the news front, CXMT (ChangXin Memory Technologies) debuted on the STAR Market on July 27 with a first-day surge exceeding 465% and turnover surpassing 1,400 billion yuan, creating a massive siphon effect that continues to divert capital from the broader storage sector. GIGADEVICE founder Zhu Yiming simultaneously heads CXMT, fueling market concerns over potential competition and management distraction. Additionally, Morgan Stanley recently warned that memory prices are approaching a peak, while the lingering impact of China Life's asset management plans collectively selling approximately 1.11 million shares for around 682 million yuan in proceeds continues to suppress sentiment.

(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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