On July 14, GigaDevice (03986.HK) rose 5.48% in regular trading, trading at 648.0 HKD/share, with turnover of 4.29 billion HKD. The rebound follows a sharp decline of nearly 12% on July 13 when cornerstone investor lock-up shares were officially released.
On the news front, Hong Kong Stock Exchange data revealed significant position changes on July 13, with transfers totaling 29.11 billion HKD in market value, representing 11.79% of shares outstanding. Notably, 2.0215 million shares were transferred into HSBC while 3.529 million shares were transferred out of Huatai Hong Kong. A total of 18 cornerstone investors saw approximately 14.39 million shares unlocked. The market interpreted these transfers as institutional absorption rather than panic selling, improving liquidity sentiment and triggering a technical rebound after the prior session's heavy selling pressure.
The company's fundamentals remain supportive, with first-half net profit expected at approximately 6.9 billion yuan, representing year-over-year growth of roughly 1,099%, driven by memory chip supply tightness and volume-price gains.
(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.)
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