On July 31, GIGADEVICE surged 28.09% in regular trading, trading at HK$521.0/share, with turnover of HK$1.311 billion.

On the news front, Chairman Zhu Yiming recently proposed a buyback of 10 to 20 billion yuan of A-shares for cancellation, while simultaneously planning to purchase no less than 1 billion yuan of company shares using personal funds between December 2026 and July 2027. He also committed to not reducing his 6.80% combined stake for 12 months. The move follows Zhu's completion of approximately 4.4 billion yuan in share sales between May 6 and June 12, with the stock having retreated nearly 60% from its June high. The market interpreted this low-level buyback-and-purchase combination as a strong signal to stabilize the share price, significantly boosting investor confidence. Additionally, listing expectations for ChangXin Memory, also chaired by Zhu, continue to intensify. Hong Kong-listed storage concept stocks rallied broadly today, with Montage Technology up 16.31% and other peers posting strong gains, creating a multi-catalyst resonance driving the sharp rebound.

(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.)