On August 19, GIGADEVICE fell 3.77% in regular trading, trading at 499.0 HKD/share, with turnover of HKD 190 million.

The decline followed a classic sell-the-news pattern after the company released blockbuster H1 results on August 18. GIGADEVICE reported H1 revenue of RMB 11.566 billion, up 178.67% YoY, and net profit attributable to shareholders of RMB 6.857 billion, surging 1091.5% YoY. Q2 standalone net profit reached RMB 5.396 billion, up 1482.99% YoY and 269% sequentially. The results were driven by tight supply in the storage chip industry with both volume and pricing rising, alongside strong MCU shipment growth across industrial, consumer, and automotive segments.

However, the earnings had been largely telegraphed by prior guidance, and the stock had already rallied over 6% on both A-share and HK markets on August 17. Concurrently, global storage stocks sold off broadly, with leveraged SK Hynix ETF dropping over 13%, Montage Technology falling 3.71%, and Hua Hong Grace declining 4.97%, amplifying sector-wide pressure.

(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.)