Stock Track | GIGADEVICE Soars 5.32% Intraday on Strong CXMT Results and Storage Chip Supply Shortages

Stock Track

May 20

GIGADEVICE's stock surged 5.32% during intraday trading on Wednesday, continuing its recent strong performance in the market.

The sharp rise is primarily attributed to explosive first-quarter results from ChangXin Memory Technologies (CXMT), which updated its IPO prospectus recently. CXMT reported staggering revenue growth of 719.13% year-over-year and net profit attributable to shareholders of 24.76 billion yuan. GIGADEVICE holds a 1.8% stake in CXMT, and its chairman also serves as CXMT chairman, creating strong equity and management ties between the companies.

Beyond the equity relationship, GIGADEVICE is deeply integrated into CXMT's supply chain, with projected DRAM-related procurement of 5.71 billion yuan from CXMT this year. Additionally, GIGADEVICE's own first-quarter earnings showed revenue of 4.19 billion yuan, up 119.38% year-over-year, with net profit surging 522.79%. The company is benefiting from what multiple institutions describe as the most severe DRAM supply shortage in 15 years, driven by storage chip shortages and expanding MCU demand across multiple sectors, with AI server demand now contributing over 50% of total DRAM consumption.

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CXMT reported staggering revenue growth of 719.13% year-over-year and net profit attributable to shareholders of 24.76 billion yuan. GIGADEVICE holds a 1.8% stake in CXMT, and its chairman also serves as CXMT chairman, creating strong equity and management ties between the companies.</p><p>Beyond the equity relationship, GIGADEVICE is deeply integrated into CXMT's supply chain, with projected DRAM-related procurement of 5.71 billion yuan from CXMT this year. Additionally, GIGADEVICE's own first-quarter earnings showed revenue of 4.19 billion yuan, up 119.38% year-over-year, with net profit surging 522.79%. The company is benefiting from what multiple institutions describe as the most severe DRAM supply shortage in 15 years, driven by storage chip shortages and expanding MCU demand across multiple sectors, with AI server demand now contributing over 50% of total DRAM consumption.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"03986","symbol_name":"兆易创新","start_time":0,"source_url":"","article_id":"1189186786","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1189186786","pubTimestamp":1779241212,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"GIGADEVICE's stock surged 5.32% during intraday trading on Wednesday, continuing its recent strong performance in the market.The sharp rise is primarily attributed to explosive first-quarter results...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"03986":"兆易创新"},"translate_title":"个股追踪|兆易创新盘中大涨5.32%，CXMT业绩强劲，存储芯片供应短缺","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"03986":1},"content_text":"GIGADEVICE's stock surged 5.32% during intraday trading on Wednesday, continuing its recent strong performance in the market.The sharp rise is primarily attributed to explosive first-quarter results from ChangXin Memory Technologies (CXMT), which updated its IPO prospectus recently. 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