Stock Track | GIGADEVICE Soars 10.66% Intraday on Major Stakeholder CXMT's Exceptional Earnings Forecast

Stock Track05-18 09:31

GIGADEVICE's stock price surged 10.66% during intraday trading on Monday, following a sharp opening gain.

The significant rise is attributed to an updated prospectus from ChangXin Memory Technologies (CXMT), a leading domestic memory chip manufacturer in which GIGADEVICE holds a 1.8% stake. CXMT reported exceptional financial performance, with first-quarter revenue soaring 719.13% year-over-year and net profit attributable to parent company owners skyrocketing over 1688%.

Furthermore, CXMT forecasts its net profit for the first half of 2026 to reach between RMB 50 billion and RMB 57 billion, representing a staggering year-over-year increase of 2244.03% to 2544.19%. The close strategic relationship is reinforced by GIGADEVICE's Chairman Zhu Yiming, who also serves as the Chairman of CXMT, creating a uniquely synergistic structure within the domestic memory industry chain.

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