HK Stock Market Move | GigaDevice Semiconductor Inc. (03986) rose more than 7%, first-quarter performance disclosure imminent, benefiting from upturn in storage cycle.

GigaDevice Semiconductor Inc. (03986) rose by over 7%, as of the time of writing, it was up 7.46% at 478.4 HKD, with a turnover of 933 million HKD. On the news front, GigaDevice Semiconductor Inc. previously announced that it plans to hold a board meeting on April 29 to consider and approve the first quarter performance of the company and its subsidiaries, with market expectations that the company is expected to benefit from the continued upward trend in the storage industry cycle by 2026. CICC Securities believes that the company is a leading comprehensive chip design enterprise in China, with its main business being the research and development and sales of memory, microcontrollers, sensors, and analog chips, forming a comprehensive product layout of "storage+control+sensing+interconnection". With overseas giants accelerating their exit from niches markets, and AI driving strong demand in the storage industry, as a global leader in niche storage, the company is expected to fully benefit from the upward trend in the storage industry cycle.