On July 24, GIGADEVICE fell 3.22% at open, trading at 541.5 HKD/share, with turnover of approximately 10.67 million HKD.

On the news front, the semiconductor sector came under broad pressure, with peers HUA HONG GRACE down 2.28% and SMIC down 1.34%, reflecting weak sector sentiment. Meanwhile, the market continues to digest the disclosure that eight asset management plans under China Life collectively sold approximately 1.1097 million shares of GIGADEVICE on July 8, cashing out roughly 682 million yuan. Debate persists over whether this reduction represents routine portfolio rebalancing or signals a valuation warning for the storage chip leader, sustaining near-term pressure on sentiment.

The stock has retreated over 50% from its peak last month. Although it rebounded 4.37% in the prior session, the sustainability of that recovery remains unconfirmed. Institutional coverage remains supportive, with a recent buy initiation citing a target price of 907 HKD, implying significant upside from current levels.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)