On July 22, GigaDevice (03986.HK) rose 3.42% in regular trading, trading at 625.0 HKD/share with turnover of 802 million HKD, extending gains following the previous session's 15%-plus surge.

On the news front, the company's board approved on July 21 the use of 500 million yuan in A-share raised funds to increase capital in its wholly-owned subsidiary Zhuhai Hengqin Xincun Semiconductor for the DRAM Chip R&D and Industrialization Project. Of the total, 50 million yuan will be injected as registered capital, with the remaining 450 million yuan recorded as capital reserve. The subsidiary's registered capital will increase from 150 million yuan to 200 million yuan upon completion.

The capital injection signals accelerated execution of GigaDevice's DRAM strategy amid a widening supply gap as overseas memory giants continue exiting legacy DRAM and SLC NAND Flash capacity. Northbound funds have added positions in the stock for 12 consecutive trading days, while multiple brokerages maintain Buy ratings with significant upside implied by target prices.

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