Zhu Yiming Cashes Out 4.4 Billion Yuan, GigaDevice Plunges Over 5% to Lowest Since May 15, Down 59% from 2023 High

Deep News07-30

GigaDevice Semiconductor Inc. (603986.SH) shares tumbled more than 5% in intraday trading to 344.98 yuan, hitting a new low since May 15 and retreating 59% from the year-to-date peak of 846.66 yuan reached on June 29.

The selloff follows the company's announcement late last night that shareholder Zhu Yiming disposed of a total of 11.1106 million shares, representing 1.58% of the company's total issued shares, through a combination of centralized竞价 and block trades between May 6 and June 12. The sale prices ranged from 339.44 yuan to 538.90 yuan per share, with the total proceeds from the disposal amounting to approximately 4.4 billion yuan.

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