Movement Alert｜GIGADEVICE Falls 3.94% in Regular Trading, Semiconductor Sector Weakens as Post-Earnings Selling Pressure Persists

Market Focus

Aug 24

On August 24, GIGADEVICE declined 3.94% in regular trading, trading at 484.8 HKD/share, with turnover of approximately HKD 129 million.

On the news front, the semiconductor sector came under broad pressure, with US storage concept stocks having weakened sharply in prior sessions — SK Hynix ADR and Micron Technology each fell over 7% in a single day, suppressing sentiment across Hong Kong-listed storage names. Within the sector, SMIC fell 2.48%, Montage Tech dropped 3.24%, and Biren Tech declined 2.38%.

The pullback follows the company's blockbuster interim results released on August 18, which showed H1 revenue of RMB 11.57 billion (+178.67% YoY) and attributable net profit of RMB 6.86 billion (+1,091.5% YoY). Despite the record-breaking figures, the stock has continued to retrace as the market adopts a classic sell-the-news posture, with the share price now down over 60% from its 52-week high. The company initiated a buyback program on August 21, repurchasing 247,000 A-shares for approximately RMB 100 million, though this has yet to arrest the downward momentum.

(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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