Trading in stocks can be more lucrative than a company's main operations, as shown by a recent divestment. A Hong Kong-listed gaming company with a market capitalization of 7 billion Hong Kong dollars has sold a portion of its holdings in a leading semiconductor firm.
GALA TECH HOLD (02458.HK) disclosed in an evening announcement that it sold 3,000 shares of Micron Technology (MU) stock via the open market on the 3rd of this month. The total transaction value was approximately $3,031,300 USD (before deducting related transaction fees), equivalent to around 20.58 million Chinese yuan.
According to the announcement, the average selling price for this divestment was about $1,010.43 per share. This sale generated a profit of approximately $1,913,400 USD for GALA TECH HOLD, equivalent to about 12.99 million Chinese yuan. Following this transaction, the company still holds 5,003 shares of Micron Technology.
Regarding the rationale for this sale, the company stated in the announcement that it consistently adheres to prudent financial management and capital utilization principles. It aims to allocate idle funds reasonably while ensuring sufficient liquidity for daily operations. The board further explained that the decision was based on a comprehensive consideration of multiple factors, including Micron Technology's recent stock price performance, market liquidity, valuation levels, overall capital market volatility, macroeconomic changes, and industry trends. The company also conducted a systematic assessment of the potential market risks associated with continued holding, in line with the group's overall investment return objectives and risk control requirements.
It is noteworthy that this is not the first time GALA TECH HOLD has reduced its Micron Technology holdings this year. Between April 16 and April 21, the company had already sold a cumulative total of 8,720 shares of Micron Technology, with a total transaction value of approximately $3,963,100 USD (excluding transaction costs).
Calculated based on data from both announcements, GALA TECH HOLD has sold a total of 11,720 shares of Micron Technology stock this year. The total proceeds from these sales amount to approximately $6,994,400 USD, equivalent to about 47.48 million Chinese yuan, realizing investment gains from previous holdings.
Founded in 2013, GALA TECH HOLD is a gaming company focused on the independent research and development and global publishing of sports simulation mobile games. Its core product portfolio includes titles such as "Football Master," "NBA Basketball Master," "Best Football," and "Best Eleven - Champion Club."
In terms of financial performance, the company reported revenue of 922 million Chinese yuan for 2025, representing an 18.9% year-on-year increase. Its annual profit for 2025 rose to 95.85 million Chinese yuan from 84.15 million Chinese yuan in 2024. This means that the proceeds from selling Micron Technology shares since the beginning of 2026 are nearly equivalent to half of the company's entire profit for 2025.
In the secondary market, as of the close on July 6, GALA TECH HOLD's stock price was HK$5.29 per share, giving the company a total market capitalization of approximately HK$7.55 billion.