On August 26, GIGADEVICE declined 3.32% in regular trading, trading at 479.2 HKD/share, with turnover of HKD 364 million. The stock had rebounded nearly 5% the prior session before coming under renewed selling pressure, extending the correction that began after its H1 results were released on August 18.

The company reported H1 attributable net profit of RMB 68.57 billion, up 1,091.5% year-over-year, with revenue of RMB 115.66 billion, up 178.67%. However, the blockbuster results had been largely priced in, and market concerns over a potential storage cycle peak continue to suppress valuation. Management previously noted that niche DRAM prices are at historical highs, while Q2 inventory rose 23% quarter-over-quarter. Despite consecutive large-scale buybacks totaling over RMB 400 million from August 21 to 25, selling pressure persists. Peer Montage Technology also fell 2.59% on the same day, reflecting broadly cautious sector sentiment.

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