Movement Alert｜GigaDevice Rises 5.63% in Regular Trading, Apple Reportedly Seeks to Source CXMT Memory Boosting Supply Chain

Market Focus09:46

On June 29, GigaDevice (03986.HK) rose 5.63% in regular trading, reaching HKD 1,178.0 per share with turnover of HKD 629 million, hitting a fresh all-time high.

On the news front, reports emerged that Apple intends to procure memory products from ChangXin Memory Technologies (CXMT), with Citibank expressing a bullish outlook on CXMT-related supply chain names. GigaDevice founder Zhu Yiming co-founded CXMT, and the two companies maintain technology, foundry, and investment cooperation ties. Additionally, Roundhill Memory ETF (DRAM) recently added GigaDevice to its holdings at a 2.91% weight, marking early international ETF exposure for China's domestic DRAM ecosystem.

The broader memory chip sector remains in a cyclical upswing, with supply shortages driving significant product price increases and sustaining strong operating performance across the industry. The company had previously disclosed that its A-share stock triggered abnormal trading alerts after cumulative gains exceeded 20% over two consecutive sessions.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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