GigaDevice's stock price hit the daily limit down at 13:19, 13:22, and 14:10 during the July 13 session, closing at 550.80 yuan, with a latest market cap of 386.52 billion yuan. On that day, the memory chip sector saw a broad sell-off, with Demingli and Shannon Semiconductor also hitting limit down. The combined turnover on the Shanghai and Shenzhen exchanges reached 2.82 trillion yuan, and over 4,600 stocks across the market declined. GigaDevice announced last Thursday evening that it expects a net profit attributable to shareholders of about 6.9 billion yuan for the first half of the year, a year-on-year increase of approximately 1,099 percent, yet the stock still suffered a heavy blow. As of the latest reporting period, the number of GigaDevice A-share holders exceeded 240,000, with the number of shareholders surging by over 50,000 in just one month.
