Chinese memory chip leader GigaDevice reached a capital markets milestone on January 13, officially listing on the Hong Kong Stock Exchange and successfully establishing a dual A+H capital platform, opening a new chapter in its global expansion. Market enthusiasm was high: the company listed at an offering price of HK$162 per share and surged at the open to HK$230 per share. By around 11:00 a.m., the stock had reached a high of HK$248.8 per share, reflecting a gain of over 50% and showcasing strong market confidence in this domestic memory leader.
The listing was backed by robust global investor support. GigaDevice secured 17 cornerstone investors, including funds such as GenTao Capital, Green Better (a Xiaomi affiliate), Yunfeng Capital, Metazone (affiliated with TCL), and Taikang Life Insurance, which together subscribed to a total of $300 million (approx. HK$2.332 billion). Among them, Huaqin Communication (Hong Kong) subscribed to $30 million, while Shanghai Gopher Asset Management and Huatai Capital jointly subscribed to $29.7 million, and Yunfeng Capital entities collectively subscribed to $25 million. Participation from these prominent institutions underscores strong recognition of the company’s core competitiveness and growth potential.
The strong market performance reflects a steady recovery in the company’s financials. Following a cyclical downturn, GigaDevice’s net profit declined to RMB 161 million in 2023. However, with the industry rebound in 2024, the company staged a strong recovery, achieving revenue of RMB 7.356 billion and net profit of RMB 1.101 billion, both showing substantial year-over-year growth. This positive trend continued into the first half of 2025, with revenue of RMB 4.150 billion and net profit of RMB 588 million, indicating enhanced earnings stability. Currently, its niche DRAM business is growing rapidly, while NOR Flash operations benefit from rising demand for edge-side AI applications. Combined with an upward cycle in the memory industry, the company is well-positioned for future growth.
ICgoodFind : GigaDevice’s A+H dual listing will broaden its financing channels, support R&D and capacity expansion, and inject stronger momentum into China’s domestic memory industry.
