HK Stock Market Move | GigaDevice Semiconductor Inc. (03986) rises nearly 10% to a new high. Strong demand and potential supplier exits are expected to drive NOR/NAND growth.
Meggit (03986) rose nearly 10%, reaching a high of 1030 Hong Kong dollars during the trading session, setting a new record high. As of the time of writing, the stock has risen by 7.03% to 1005 Hong Kong dollars, with a trading volume of 1.658 billion Hong Kong dollars.
GigaDevice Semiconductor Inc. (03986) rose nearly 10%, hitting a high of 1030 Hong Kong dollars during trading hours, setting a new record high. As of the latest update, it rose 7.03%, reaching 1005 Hong Kong dollars, with a trading volume of 1.658 billion Hong Kong dollars.
On the news front, media reported in March that Armor is gradually phasing out its traditional NAND product portfolio, with an expected final order date in September 2026. In addition, Micron Technology's production capacity allocation is beginning to shift towards high-value 3DNAND products. HSBC Qianhai Securities believes that the exit of major suppliers from the market has supported price increases and will release about 25% of the global market space for suppliers such as GigaDevice Semiconductor Inc. in the next 2-3 years.
Furthermore, the IPO of Changxin Technology on the Science and Technology Innovation Board is accelerating. The bank believes that with its stable relationship with Changxin Storage, the company is one of the few companies able to expand DDR4 production capacity between 2026 and 2028. At the same time, the bank believes that the company's customized DRAM products for automotive and AI applications are expected to contribute to profitability in the second half of 2026, consolidating the company's strategic layout in the high-value niche DRAM market and supporting continuous growth in average selling prices.
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