HK Stock Market Move | GigaDevice Semiconductor Inc. (03986) falls by over 11% again, Changxin Technology's IPO pricing has been announced, and H-share cornerstone investors will lift the restrictions starting from this Monday.

GigaDevice Semiconductor Inc. (03986) fell by more than 11%, as of the time of writing, it dropped by 7.08% to HKD 610.5, with a turnover of HKD 700 million. On the news front, on the evening of July 14, Changxin Technology announced its IPO issue price: HKD 8.66 per share. Based on the total share capital after the issue, the corresponding total market value is approximately HKD 579.2 billion. This is significantly lower compared to the market's expectation of a market value of billions or even tens of billions. Some industry insiders have stated that the pricing of Changxin this time fully takes into account the current situation of the company; the valuation of the company should gradually increase with its growth, which is the true "long-termism." In addition, GigaDevice Semiconductor Inc.'s H shares welcomed the lifting of the lock-up of cornerstone investors' shares on July 13. Data shows that a total of 18 shareholders had their shares unlocked, with a total of 14.3943 million shares unlocked. It is worth noting that the proportion of shares released by GigaDevice Semiconductor Inc. on the Hong Kong stock exchange is very low, while the proportion of cornerstone investors accounts for half.