HK Stock Market Move | GigaDevice Semiconductor Inc. (03986) rebounds over 6%, net profit in the first half of the year increases by over 10 times year-on-year, Changxin Technology is about to go public.

GigaDevice Semiconductor Inc. (03986) rebounded over 6%, as of the time of writing, rising 4.13% to 655 Hong Kong dollars with a turnover of 6.47 billion Hong Kong dollars. On the news front, stocks in the storage sector experienced a downward trend yesterday. GigaDevice Semiconductor Inc. staff stated that this round of stock price adjustment is highly correlated with external markets, "the current decrease in the company's stock price is similar to that of SK Hynix, with a decrease of over 30% from the high point to now. We are both in the storage business and experienced a similar trend when the stock prices were rising." As for concerns about the company's business performance in the market, the staff member mentioned "the performance forecast is the most convincing proof of our performance." On the evening of July 9th, GigaDevice Semiconductor Inc. announced its performance forecast for the first half of 2026: revenue is expected to be around 11.5 billion yuan, a year-on-year increase of 177%; net profit attributable to shareholders is expected to be around 6.9 billion yuan, a staggering increase of 1099% year-on-year; non-GAAP net profit is expected to be around 4.85 billion yuan, an increase of 791% year-on-year. Additionally, on July 16th, Changxin Technology will conduct offline and online subscription for its new shares. Changxin Technology plans to raise 29.5 billion yuan, becoming the second largest IPO in the history of the Sci-Tech Innovation Board and the largest IPO in the entire A-share market this year.