HK Stock Market Move | GigaDevice Semiconductor Inc. (03986) fell more than 6% in the afternoon, China Life Insurance asset management sold GigaDevice Semiconductor Inc. with a total cash out of 680 million yuan.

GigaDevice Semiconductor Inc. (03986) fell more than 6% in the afternoon, hitting a low of 574.5 Hong Kong dollars, which is half of the high point of 1248 Hong Kong dollars from last month. As of the time of writing, it has fallen by 5.86% to 578 Hong Kong dollars, with a trading volume of 3.802 billion Hong Kong dollars. In terms of news, on July 20th, China Life Insurance announced that eight asset management plans under China Life Insurance collectively sold about 1.1092 million shares of GigaDevice Semiconductor Inc. on July 8th, with the selling price ranging from 611.46 yuan per share to 624.61 yuan per share. The total cashed out exceeded 682 million yuan, and all transactions were confirmed on the same day. It is worth noting that GigaDevice Semiconductor Inc. had previously issued a risk warning announcement stating that the storage chip industry has historically shown cyclical fluctuations, and future performance may be affected by changes in the industry supply and demand structure, with the risk of a possible decrease in future profit potential. In addition, with the pricing of ChangXin Technology falling short of market expectations, the premium expectations for GigaDevice Semiconductor Inc. benefiting from ChangXin's listing are gradually being cleared.