HK Stock Market Move | GigaDevice Semiconductor Inc (03986) soared more than 13%, breaking through the ceiling. Domestic storage giants compete for listing. The company benefits from the uptrend in the memory cycle.

GigaDevice Semiconductor Inc. (03986) rose more than 13%, reaching a high of 686.5 Hong Kong dollars, setting a new record high. As of the time of writing, it rose 12.71% to 678.5 Hong Kong dollars, with a turnover of 7.07 billion Hong Kong dollars. On the news front, following ChangXin, Changjiang Storage announced its IPO. On May 19, the website of the China Securities Regulatory Commission showed that the leading domestic storage chip company, Changjiang Storage Holdings Co., Ltd., has initiated an IPO guidance, with CITIC SEC and China Securities Co., Ltd. as the guidance agencies. It is reported that these two companies correspond to the two core directions in the storage industry. Public information shows that GigaDevice Semiconductor Inc., the A-share listed company with the closest relationship to ChangXin Technology, is the leading storage chip company. According to the prospectus, the latest holding ratio of GigaDevice Semiconductor Inc. is 1.8%. In addition, the chairman of GigaDevice Semiconductor Inc., Zhu Yiming, also serves as the chairman of ChangXin Technology. Central China pointed out that GigaDevice Semiconductor Inc. is a leading domestic niche storage and MCU company. The storage cycle is continuously rising, with the company's niche DRAM, SLCNAND, and NORFlash products all seeing increases in volume and price. The company is actively expanding its customized storage, smoothly expanding its customer base in multiple fields, and is expected to contribute revenue in 2026. The company is constantly enriching its MCU product matrix, deeply cultivating the high-quality consumer and industrial markets, and continuously expanding its MCU product technology strength.