Movement Alert｜GIGADEVICE Falls 3.1% in Regular Trading, Semiconductor Storage Sector Weakens as Profit-Taking Follows Prior Session Rally

Market Focus08-28 10:48

On August 28, GIGADEVICE fell 3.1% in regular trading, trading at 499.6 HKD/share, with turnover of HKD 506 million. The stock had surged nearly 7% intraday during the prior session on August 27, triggering profit-taking pressure.

The broader semiconductor storage sector traded weak, with peers Montage Technology down 2.99%, Hua Hong Grace down 2.28%, and SMIC down 0.7%, reflecting subdued sector sentiment. Despite the company executing continuous share buybacks since August 21 — accumulating over RMB 600 million in repurchases via centralized bidding — and reporting blockbuster H1 results with net profit attributable to shareholders of RMB 6.857 billion (up 1,091.5% YoY), short-term pullback pressure persists following earnings delivery. Management had previously guided that niche DRAM prices would continue a moderate uptrend in H2, though market concerns over a potential storage cycle peak continue to weigh on valuations near-term.

(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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